Allegiant Travel (ALGT) 10-Q 9 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	1-May-14
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Allegiant Travel CO	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	17,907,363
Amendment Flag	'false	'
Entity Central Index Key	'0001362468	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Well Known Seasoned Issuer	'Yes	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$90,118	$97,711
Restricted cash	10,774	10,531
Short-term investments	254,769	253,378
Accounts receivable	18,651	16,857
Expendable parts, supplies and fuel, net of an allowance for obsolescence of $1,997 and $1,702 at March 31, 2014 and December 31, 2013, respectively	17,642	19,428
Prepaid expenses	30,116	26,643
Deferred income taxes	3,503	4,206
Other current assets	1,350	1,167
Total current assets	426,923	429,921
Property and equipment, net	442,818	451,584
Restricted cash, net of current portion	305	305
Long-term investments	20,924	36,037
Investment in and advances to unconsolidated affiliates, net	2,138	1,655
Deposits and other assets	11,134	10,689
Total assets	904,242	930,191
Current liabilities:	'	'
Current maturities of long-term debt	20,434	20,237
Accounts payable	21,927	15,823
Accrued liabilities	51,488	87,203
Air traffic liability	209,114	167,388
Total current liabilities	302,963	290,651
Long-term debt and other long-term liabilities: [Abstract]	'	'
Long-term debt, net of current maturities	208,905	214,063
Deferred income taxes	49,505	48,160
Total liabilities	561,373	552,874
Stockholders' equity:	'	'
Common stock, par value $.001, 100,000,000 shares authorized; 22,143,224 and 22,036,893 shares issued; 17,907,911 and 18,544,248 shares outstanding, as of March 31, 2014 and December 31, 2013, respectively	22	22
Treasury stock, at cost, 4,235,313 and 3,492,645 shares at March 31, 2014 and December 31, 2013, respectively	-259,689	-186,291
Additional paid in capital	214,093	209,213
Accumulated other comprehensive loss, net	-4	-12
Retained earnings	387,020	352,811
Total Allegiant Travel Company stockholders' equity	341,442	375,743
Noncontrolling interest	1,427	1,574
Total equity	342,869	377,317
Total liabilities and stockholders' equity	$904,242	$930,191

Consolidated_Balance_Sheets_Cu1

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Allowance for obsolescence (in dollars)	$1,997	$1,702
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	22,143,224	22,036,893
Common stock, shares outstanding	17,907,911	18,544,248
Treasury stock, shares	4,235,313	3,492,645

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
OPERATING REVENUE:	'	'
Scheduled service revenue	$203,521	$179,933
Ancillary revenue:	'	'
Air-related charges	85,454	76,813
Third party products	10,629	10,717
Total ancillary revenue	96,083	87,530
Fixed fee contract revenue	2,646	5,187
Other revenue	274	309
Total operating revenue	302,524	272,959
OPERATING EXPENSES:	'	'
Aircraft fuel	108,949	108,491
Salary and benefits	46,439	41,162
Station operations	22,233	19,345
Maintenance and repairs	20,600	18,128
Sales and marketing	7,818	5,808
Aircraft lease rentals	9,429	303
Depreciation and amortization	18,431	16,892
Other	11,354	10,463
Total operating expenses	245,253	220,592
OPERATING INCOME	57,271	52,367
OTHER (INCOME) EXPENSE:	'	'
(Earnings) loss from unconsolidated affiliates, net	3	-38
Interest income	-205	-262
Interest expense	3,128	2,188
Total other expense	2,926	1,888
INCOME BEFORE INCOME TAXES	54,345	50,479
PROVISION FOR INCOME TAXES	20,270	18,648
NET INCOME	34,075	31,831
Net loss attributable to noncontrolling interest	-147	-101
NET INCOME ATTRIBUTABLE TO ALLEGIANT TRAVEL COMPANY	$34,222	$31,932
Earnings per share to common stockholders:	'	'
Basic (in Dollars per share)	$1.87	$1.66
Diluted (in Dollars per share)	$1.86	$1.65
Weighted average shares outstanding used in computing earnings per share to common stockholders:	'	'
Basic (in Shares)	18,166	19,081
Diluted (in Shares)	18,248	19,207

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]	'	'
Net income	$34,075	$31,831
Other comprehensive income:	'	'
Unrealized gain on available-for-sale securities	13	83
Income tax expense related to unrealized gain or loss on available-for-sale securities	-5	-31
Total other comprehensive income	8	52
Total comprehensive income	34,083	31,883
Comprehensive loss attributable to noncontrolling interest	-147	-101
Comprehensive income attributable to Allegiant Travel Company	$34,230	$31,984

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
OPERATING ACTIVITIES:	'	'
Net income	$34,075	$31,831
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	18,431	16,892
Loss on aircraft and other equipment disposals	1,350	1,315
Provision for obsolescence of expendable parts, supplies and fuel	295	180
Amortization of deferred financing costs and original issue discount	149	183
Stock-based compensation expense	2,189	2,309
Deferred income taxes	2,048	4,207
Excess tax benefits from stock-based compensation	-1,323	-607
Changes in certain assets and liabilities:	'	'
Restricted cash	-243	-1,827
Accounts receivable	-1,794	4,019
Expendable parts, supplies and fuel	1,491	2,748
Prepaid expenses	-3,473	-2,287
Other current assets	-183	420
Accounts payable	7,427	5,123
Accrued liabilities	5,200	5,331
Air traffic liability	41,726	37,987
Net cash provided by operating activities	107,365	107,824
INVESTING ACTIVITIES:	'	'
Purchase of investment securities	-66,086	-147,591
Proceeds from maturities and sale of investment securities	79,802	95,627
Purchase of property and equipment, including pre-delivery deposits	-11,070	-13,097
Interest during refurbishment of aircraft	0	-123
Proceeds from sale of property and equipment	55	243
Investment in unconsolidated affiliates, net	-483	-709
Change in deposits and other assets	-272	10,187
Net cash provided by (used in) investing activities	1,946	-55,463
FINANCING ACTIVITIES:	'	'
Cash dividends paid to shareholders	-41,787	0
Excess tax benefits from stock-based compensation	1,323	607
Proceeds from exercise of stock options and stock-settled SARs	2,240	189
Repurchase of common stock	-73,397	-23,180
Principal payments on long-term debt	-4,987	-2,877
Payments for deferred financing costs	-296	0
Payments for sale of ownership interest in subsidiary	0	-50
Net cash used in financing activities	-116,904	-25,311
Net change in cash and cash equivalents	-7,593	27,050
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	97,711	89,557
CASH AND CASH EQUIVALENTS AT END OF PERIOD	90,118	116,607
Non- cash transactions:	'	'
Assets acquired in sale of ownership interest in subsidiary	$0	$56

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	Basis of Presentation: The accompanying unaudited consolidated financial statements include the accounts of Allegiant Travel Company (the “Company”) and its majority-owned operating subsidiaries. Investments in affiliates in which the Company’s ownership interest ranges from 20 to 50 percent and in which the Company has the ability to exercise significant influence over operating and financial policies are accounted for under the equity method. All intercompany balances and transactions have been eliminated.
	These unaudited consolidated financial statements reflect all normal recurring adjustments, which management believes are necessary to present fairly the financial position, results of operations, and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto included in the annual report of the Company on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission.
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
	The interim results reflected in the unaudited consolidated financial statements are not necessarily indicative of the results that may be expected for other interim periods or for the full year.

Investment_Securities

Investment Securities	3 Months Ended
	Mar. 31, 2014
Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure Text Block [Abstract]	'
Investment Securities	'
	Investment Securities
	The Company’s investments in marketable securities are classified as available-for-sale and are reported at fair market value with the net unrealized gain or (loss) reported as a component of accumulated other comprehensive income in stockholders’ equity. Investment securities are classified as cash equivalents, short-term investments and long-term investments based on maturity date. Cash equivalents have maturities of three months or less, short-term investments have maturities of greater than three months but equal to or less than one year and long-term investments are those with a maturity date greater than one year. As of March 31, 2014, all of the Company’s long-term investments consisted of government debt securities and municipal debt securities with contractual maturities of less than 18 months. Investment securities consisted of the following:
		As of March 31, 2014									As of December 31, 2013
				Gross Unrealized									Gross Unrealized
		Cost		Gains		(Losses)			Market Value		Cost		Gains		(Losses)			Market Value
	Money market funds	$	239	$	—	$	—		$	239	$	20,172	$	—	$	—		$	20,172
	Certificates of deposit	10,014		—		(4		)	10,010		—		—		—			—
	Commercial paper	77,790		8		(2		)	77,796		75,905		8		(2		)	75,911
	Municipal debt securities	139,159		23		(1		)	139,181		181,870		17		(19		)	181,868
	Government debt securities	10,003		—		—			10,003		10,008		—		—			10,008
	Corporate debt securities	39,073		—		(28		)	39,045		45,150		—		(16		)	45,134
	Total	$	276,278	$	31	$	(35	)	$	276,274	$	333,105	$	25	$	(37	)	$	333,093
	The amortized cost of investment securities sold is determined by the specific identification method with any realized gains or losses reflected in other (income) expense.  The Company had minimal realized losses for the three-months ended March 31, 2014 and 2013.

LongTerm_Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Long-Term Debt	'
	Long-Term Debt
	Long-term debt consisted of the following:
		As of March 31, 2014		As of December 31, 2013
	Senior secured term loan facility, interest at LIBOR plus 4.25% with LIBOR floor of 1.5%, due March 2017	$	120,944	$	121,230
	Notes payable, secured by aircraft, interest at LIBOR plus 2.46%, due November 2019	46,450		48,000
	Note payable, secured by real estate, interest at 2.86%, due October 2018	9,884		9,953
	Notes payable, secured by aircraft, interest at 3.99%, due October 2018	43,575		45,775
	Note payable, secured by aircraft, interest at 4.65%, due July 2016	8,486		9,342
	Total long-term debt	229,339		234,300
	Less current maturities	20,434		20,237
	Long-term debt, net of current maturities	$	208,905	$	214,063
	Senior Secured Term Loan Facility
	In March 2011, the Company borrowed $125,000 under a senior secured term loan facility (the “Term Loan”). The Term Loan matures in March 2017, bears interest based on the London Interbank Offered Rate (“LIBOR”) or prime rate with interest payable quarterly or more frequently until maturity and includes a LIBOR floor of 1.5 percent. The Term Loan contains restrictions on future borrowing, provides for maximum annual capital expenditures and contains other affirmative and negative covenants. In addition to quarterly principal payments equal to 0.25 percent of the initial loan, the Term Loan also provides for mandatory and optional prepayment provisions.
	The mandatory prepayment provisions are associated with cash proceeds from the sale of certain assets (which are not reinvested), cash proceeds from the issuance or incurrence of indebtedness for money borrowed in violation of the covenants in the Term Loan, cash proceeds from insurance or condemnation awards (which are not reinvested) and for 25 percent of the Company’s excess cash flow (as defined in the Term Loan) if the Company’s leverage ratio exceeds 1.5:1 as of the end of any year.  In the event the Company does not reinvest the cash proceeds from the sale of certain assets or from insurance or condemnation awards or if the Company incurs indebtedness in violation of the covenants in the Term Loan, the prepayment will be due within three business days following the date of the event requiring the prepayment.  The prepayment associated with a failure to meet the leverage ratio test would be payable within a specified number of days after the end of the year for the covenant calculation.
	As of March 31,2014, the Company is in compliance with all covenants under the Term Loan and no events occurred which would have required any prepayment of the debt.
	In April 2014, the Company prepaid in full the $120.9 million balance and accrued interest of $0.2 million of the Company's Term Loan. See Note 9 — Subsequent Events for additional information related to the Term Loan repayment.
	Other
	In April 2014, the Company borrowed $45.3 million under a loan agreement secured by 53 MD-80 aircraft. The note payable issued under the loan agreement bears interest at LIBOR plus 2.95 percent and is payable in monthly installments through April 2018.
	In September 2013, the Company borrowed $48,000 under a modified loan agreement secured by four Airbus A320 series aircraft. The notes payable issued under the modified loan agreement bear interest at 3.99 percent per annum and are payable in monthly installments through October 2018.
	In October 2013, the Company borrowed $10,000 under a loan agreement secured by real estate purchased for the Company's headquarter offices in the second quarter of 2013. The note payable issued under the loan agreement bears interest at 2.86 percent per annum and is payable in monthly installments through October 2018 when a balloon payment is due.
	In November 2013, the Company borrowed $48,000 under a loan agreement secured by four Airbus A320 series aircraft. The notes payable issued under the loan agreement bear interest at LIBOR plus 2.46 percent per annum and are payable in monthly installments through November 2019.
	In June 2012, the Company borrowed $14,000 under loan agreements secured by two Boeing 757-200 aircraft purchased in the first half of 2012. The note payable issued under the loan agreements bears interest at 4.65 percent per annum and is payable in monthly installments through July 2016. In April 2014, the Company prepaid the portion of the note relating to one Boeing 757-200 aircraft in the amount of $4.1 million. Currently, only one Boeing 757-200 remains encumbered under this loan agreement. See Note 9 — Subsequent Events.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Stockholders' Equity	'
	Stockholders’ Equity
	The Company is authorized by the Board of Directors to acquire the Company’s stock through open market purchases under its share repurchase program. During the three months ended March 31, 2014, the Company repurchased 730,162 shares through open market purchases at an average price of $98.82 per share for a total expenditure of $72,157. During the three months ended March 31, 2013, the Company repurchased 284,283 shares through open market purchases at an average price of $78.15 per share for a total expenditure of $22,218.  After an increase in repurchase authority approved in February 2014, the Company had $67,657 in unused stock repurchase authority remaining as of March 31, 2014.
	On November 14, 2013, the Company’s Board of Directors declared a special cash dividend of $2.25 per share on its outstanding common stock payable to stockholders of record on December 13, 2013.  On January 3, 2014, the Company paid cash dividends of $41,787 to these stockholders.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The Company measures certain financial assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Accounting standards pertaining to fair value measurements establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
	Level 1 - Defined as observable inputs such as quoted prices in active markets for identical assets or liabilities
	Level 2 - Defined as inputs other than Level 1 inputs that are either directly or indirectly observable
	Level 3 - Defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions
	The Company uses the market approach valuation technique to determine fair value for investment securities. The assets classified as Level 1 consist of money market funds for which original cost approximates fair value. The assets classified as Level 2 consist of certificates of deposit, commercial paper, municipal debt securities, government debt securities, and corporate debt securities, which are valued using quoted market prices or alternative pricing sources including transactions involving identical or comparable assets and models utilizing market observable inputs.
	For those assets classified as Level 2 that are not in active markets, the Company obtained fair value from pricing sources using quoted market prices for identical or comparable instruments and based on pricing models which include all significant observable inputs, including maturity dates, issue dates, settlement date, benchmark yields, reported trades, broker-dealer quotes, issue spreads, benchmark securities, bids, offers and other market related data. These inputs are observable or can be derived from or corroborated by observable market data for substantially the full term of the asset.
	Assets measured at fair value on a recurring basis at March 31, 2014 and December 31, 2013 were as follows:
				Fair Value Measurements at Reporting Date Using
	Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Cash equivalents
	Money market funds	$	239	$	239	$	—	$	—
	Municipal debt securities	342		—		342		—
	Total cash equivalents	581		239		342		—
	Short-term investments
	Certificates of deposit	10,010		—		10,010		—
	Commercial paper	77,796		—		77,796		—
	Municipal debt securities	117,915		—		117,915		—
	Corporate debt securities	39,045		—		39,045		—
	Government debt securities	10,003		—		10,003		—
	Total short-term investments	254,769		—		254,769		—
	Long-term investments
	Municipal debt securities	20,924		—		20,924		—
	Total long-term investments	20,924		—		20,924		—
	Total investment securities	$	276,274	$	239	$	276,035	$	—
				Fair Value Measurements at Reporting Date Using
	Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Cash equivalents
	Money market funds	$	20,172	$	20,172	$	—	$	—
	Municipal debt securities	23,506		—		23,506		—
	Total cash equivalents	43,678		20,172		23,506		—
	Short-term investments
	Commercial paper	75,911		—		75,911		—
	Municipal debt securities	122,325		—		122,325		—
	Corporate debt securities	45,134		—		45,134		—
	Government debt securities	10,008		—		10,008		—
	Total short-term investments	253,378		—		253,378		—
	Long-term investments
	Municipal debt securities	36,037		—		36,037		—
	Total long-term investments	36,037		—		36,037		—
	Total investment securities	$	333,093	$	20,172	$	312,921	$	—
	There were no significant transfers between Level 1 and Level 2 assets for the three months ended March 31, 2014 or during the year ended December 31, 2013.
	The Company has determined the estimated fair value of its debt to be Level 3 as certain inputs used are unobservable. The fair value of the Company's debt was estimated using either indicative pricing from market information or the discounted amount of future cash flows. The discounted cash flows use the current rates available to the Company for debt of the same remaining maturities and consideration of default and credit risk. As of March 31, 2014, the estimated fair value and the carrying value of its debt, including current maturities were $218,542 and $229,339, respectively. As of December 31, 2013, the estimated fair value and the carrying value of its debt, including current maturities were $224,850 and $234,300, respectively.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	For the three months ended March 31, 2014, the Company did not have any material unrecognized tax benefits. The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. There was no accrued interest or penalties at March 31, 2014.

Earnings_per_Share

Earnings per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings per Share	'
	Earnings per Share
	Basic and diluted earnings per share are computed pursuant to the two-class method. Under this method, the Company attributes net income to two classes, common stock and unvested restricted stock awards. Unvested restricted stock awards granted to employees under the Company’s Long-Term Incentive Plan are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock.
	Diluted net income per share is calculated using the more dilutive of two methods. Under both methods, the exercise of employee stock options and stock-settled stock appreciation rights are assumed using the treasury stock method. The assumption of vesting of restricted stock, however, differs:
	1	Assume vesting of restricted stock using the treasury stock method.
	2	Assume unvested restricted stock awards are not vested, and allocate earnings to common shares and unvested restricted stock awards using the two-class method.
	For the three months ended March 31, 2014 and March 31, 2013, the second method which assumes unvested awards are not vested, was used in the computation because it was more dilutive than the first method. The following table sets forth the computation of net income per share, on a basic and diluted basis for the periods indicated (shares in table below are in thousands):
		Three Months Ended March 31,
		2014			2013
	Basic:
	Net income attributable to Allegiant Travel Company	$	34,222		$	31,932
	Less: Net income allocated to participating securities	(254		)	(216		)
	Net income attributable to common stock	$	33,968		$	31,716
	Net income per share, basic	$	1.87		$	1.66
	Weighted-average shares outstanding	18,166			19,081
	Diluted:
	Net income attributable to Allegiant Travel Company	$	34,222		$	31,932
	Less: Net income allocated to participating securities	(253		)	(214		)
	Net income attributable to common stock	$	33,969		$	31,718
	Net income per share, diluted	$	1.86		$	1.65
	Weighted-average shares outstanding	18,166			19,081
	Dilutive effect of stock options, restricted stock and stock-settled stock appreciation rights	121			172
	Adjusted weighted-average shares outstanding under treasury stock method	18,287			19,253
	Participating securities excluded under two-class method	(39		)	(46		)
	Adjusted weighted-average shares outstanding under two-class method	18,248			19,207

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	The Company is subject to certain legal and administrative actions it considers routine to its business activities. The Company believes the ultimate outcome of any pending legal or administrative matters will not have a material adverse impact on its financial position, liquidity or results of operations.
	In August 2013, the Company entered into purchase agreements for two Airbus A320 series aircraft. As of March 31, 2014, the contractual obligations for these two aircraft were $23.4 million to be paid in 2014 upon taking ownership of the aircraft.
	In August 2012, the Company entered into lease agreements for nine used Airbus A319 aircraft with expected deliveries through the third quarter of 2015. As of March 31, 2014, two of these leased Airbus A319 aircraft were inducted into revenue service. The Company expects to take possession of the remaining aircraft under these lease agreements in 2014 and 2015.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	In April 2014, the Company borrowed $45.3 million under a loan agreement secured by 53 MD-80 aircraft. The note payable issued under the loan agreement bears interest at a floating rate based on LIBOR and is payable in monthly installments through April 2018. The proceeds along with internally generated funds were used to prepay in full the $120.9 million balance and accrued interest of $0.2 million of the Company's Term Loan originally due March 2017.
	Additionally, in April 2014, the Company prepaid the portion of the note payable related to one Boeing 757-200 aircraft in the amount of $4.1 million originally due July 2016. Currently, only one Boeing 757-200 remains encumbered under this loan agreement.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies - (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation: The accompanying unaudited consolidated financial statements include the accounts of Allegiant Travel Company (the “Company”) and its majority-owned operating subsidiaries. Investments in affiliates in which the Company’s ownership interest ranges from 20 to 50 percent and in which the Company has the ability to exercise significant influence over operating and financial policies are accounted for under the equity method. All intercompany balances and transactions have been eliminated.
	These unaudited consolidated financial statements reflect all normal recurring adjustments, which management believes are necessary to present fairly the financial position, results of operations, and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto included in the annual report of the Company on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission.
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
	The interim results reflected in the unaudited consolidated financial statements are not necessarily indicative of the results that may be expected for other interim periods or for the full year.

Investment_Securities_Tables

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2014
Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure Text Block [Abstract]	'
Summary of Investment Securities	'
	Investment securities consisted of the following:
		As of March 31, 2014									As of December 31, 2013
				Gross Unrealized									Gross Unrealized
		Cost		Gains		(Losses)			Market Value		Cost		Gains		(Losses)			Market Value
	Money market funds	$	239	$	—	$	—		$	239	$	20,172	$	—	$	—		$	20,172
	Certificates of deposit	10,014		—		(4		)	10,010		—		—		—			—
	Commercial paper	77,790		8		(2		)	77,796		75,905		8		(2		)	75,911
	Municipal debt securities	139,159		23		(1		)	139,181		181,870		17		(19		)	181,868
	Government debt securities	10,003		—		—			10,003		10,008		—		—			10,008
	Corporate debt securities	39,073		—		(28		)	39,045		45,150		—		(16		)	45,134
	Total	$	276,278	$	31	$	(35	)	$	276,274	$	333,105	$	25	$	(37	)	$	333,093

LongTerm_Debt_Tables

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Summary of Long-Term Debt	'
	Long-term debt consisted of the following:
		As of March 31, 2014		As of December 31, 2013
	Senior secured term loan facility, interest at LIBOR plus 4.25% with LIBOR floor of 1.5%, due March 2017	$	120,944	$	121,230
	Notes payable, secured by aircraft, interest at LIBOR plus 2.46%, due November 2019	46,450		48,000
	Note payable, secured by real estate, interest at 2.86%, due October 2018	9,884		9,953
	Notes payable, secured by aircraft, interest at 3.99%, due October 2018	43,575		45,775
	Note payable, secured by aircraft, interest at 4.65%, due July 2016	8,486		9,342
	Total long-term debt	229,339		234,300
	Less current maturities	20,434		20,237
	Long-term debt, net of current maturities	$	208,905	$	214,063

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Assets Measured at Fair Value On a Recurring Basis	'
	Assets measured at fair value on a recurring basis at March 31, 2014 and December 31, 2013 were as follows:
				Fair Value Measurements at Reporting Date Using
	Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Cash equivalents
	Money market funds	$	239	$	239	$	—	$	—
	Municipal debt securities	342		—		342		—
	Total cash equivalents	581		239		342		—
	Short-term investments
	Certificates of deposit	10,010		—		10,010		—
	Commercial paper	77,796		—		77,796		—
	Municipal debt securities	117,915		—		117,915		—
	Corporate debt securities	39,045		—		39,045		—
	Government debt securities	10,003		—		10,003		—
	Total short-term investments	254,769		—		254,769		—
	Long-term investments
	Municipal debt securities	20,924		—		20,924		—
	Total long-term investments	20,924		—		20,924		—
	Total investment securities	$	276,274	$	239	$	276,035	$	—
				Fair Value Measurements at Reporting Date Using
	Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Cash equivalents
	Money market funds	$	20,172	$	20,172	$	—	$	—
	Municipal debt securities	23,506		—		23,506		—
	Total cash equivalents	43,678		20,172		23,506		—
	Short-term investments
	Commercial paper	75,911		—		75,911		—
	Municipal debt securities	122,325		—		122,325		—
	Corporate debt securities	45,134		—		45,134		—
	Government debt securities	10,008		—		10,008		—
	Total short-term investments	253,378		—		253,378		—
	Long-term investments
	Municipal debt securities	36,037		—		36,037		—
	Total long-term investments	36,037		—		36,037		—
	Total investment securities	$	333,093	$	20,172	$	312,921	$	—

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Computation of Net Income Per Share, Basic and Diluted	'
	The following table sets forth the computation of net income per share, on a basic and diluted basis for the periods indicated (shares in table below are in thousands):
		Three Months Ended March 31,
		2014			2013
	Basic:
	Net income attributable to Allegiant Travel Company	$	34,222		$	31,932
	Less: Net income allocated to participating securities	(254		)	(216		)
	Net income attributable to common stock	$	33,968		$	31,716
	Net income per share, basic	$	1.87		$	1.66
	Weighted-average shares outstanding	18,166			19,081
	Diluted:
	Net income attributable to Allegiant Travel Company	$	34,222		$	31,932
	Less: Net income allocated to participating securities	(253		)	(214		)
	Net income attributable to common stock	$	33,969		$	31,718
	Net income per share, diluted	$	1.86		$	1.65
	Weighted-average shares outstanding	18,166			19,081
	Dilutive effect of stock options, restricted stock and stock-settled stock appreciation rights	121			172
	Adjusted weighted-average shares outstanding under treasury stock method	18,287			19,253
	Participating securities excluded under two-class method	(39		)	(46		)
	Adjusted weighted-average shares outstanding under two-class method	18,248			19,207

Investment_Securities_Detail_I

Investment Securities (Detail) - Investment Securities (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Cost	$276,278	$333,105
Gross Unrealized Gains	31	25
Gross Unrealized Losses	35	37
Market Value	276,274	333,093
Money market funds	'	'
Cost	239	20,172
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Market Value	239	20,172
Certificates of deposit	'	'
Cost	10,014	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	4	0
Market Value	10,010	0
Commercial paper	'	'
Cost	77,790	75,905
Gross Unrealized Gains	8	8
Gross Unrealized Losses	2	2
Market Value	77,796	75,911
Municipal debt securities	'	'
Cost	139,159	181,870
Gross Unrealized Gains	23	17
Gross Unrealized Losses	1	19
Market Value	139,181	181,868
Government debt securities	'	'
Cost	10,003	10,008
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Market Value	10,003	10,008
Corporate debt securities	'	'
Cost	39,073	45,150
Gross Unrealized Gains	0	0
Gross Unrealized Losses	28	16
Market Value	$39,045	$45,134

LongTerm_Debt_LongTerm_Debt_Co

Long-Term Debt Long-Term Debt - Components of Long-Term Debt (Detail) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Nov. 30, 2013

Dec. 31, 2013

Oct. 31, 2013

Sep. 30, 2013

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2012

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

In Thousands, unless otherwise specified

Due March 2017

Due March 2017

Due November 2019

Due November 2019

Due November 2019

Due October 2018

Due October 2018

Due October 2018

Due July 2016

Due July 2016

Due July 2016

Notes Payable, Three Point Nine Nine Percent, Due October Two Thousand Eighteen

Notes Payable, Three Point Nine Nine Percent, Due October Two Thousand Eighteen

Notes Payable, Two Point Eight Six Percent, Due October Two Thousand Eighteen

Notes Payable, Two Point Eight Six Percent, Due October Two Thousand Eighteen

Due October 2018

Due October 2018

Due October 2018

Due October 2018

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Secured Long-term Debt, Noncurrent

'

'

$120,944

$121,230

$46,450

$48,000

$48,000

'

$10,000

$48,000

$8,486

$9,342

$14,000

$43,575

$45,775

$9,884

$9,953

Long-term Debt, Fair Value

229,339

234,300

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Less current maturities

20,434

20,237

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt, net of current maturities

$208,905

$214,063

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest Rate

'

'

4.25%

4.25%

2.46%

2.46%

2.46%

2.86%

2.86%

3.99%

4.65%

4.65%

4.65%

3.99%

3.99%

2.86%

'

Notes Payable

'

'

1.50%

1.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

LongTerm_Debt_Detail

Long-Term Debt (Detail) (USD $)

3 Months Ended

1 Months Ended

Mar. 31, 2014

Mar. 10, 2011

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2012

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2013

Oct. 31, 2013

Sep. 30, 2013

Mar. 31, 2014

Jun. 30, 2012

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Apr. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2013

Due July 2016

Due July 2016

Due July 2016

Due March 2017

Due March 2017

Due October 2018

Due October 2018

Due October 2018

Boeing 757 [Member]

Boeing 757 [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Due March 2017

Notes Payable, Three Point Nine Nine Percent, Due October Two Thousand Eighteen

Notes Payable, Three Point Nine Nine Percent, Due October Two Thousand Eighteen

Notes Payable, Three Point Nine Nine Percent, Due October Two Thousand Eighteen

Notes Payable, Two Point Eight Six Percent, Due October Two Thousand Eighteen

Notes Payable, Two Point Eight Six Percent, Due October Two Thousand Eighteen

Notes Payable, Two Point Eight Six Percent, Due October Two Thousand Eighteen

aircraft

aircraft

Due July 2016

Due April 2018

MD-80 Aircraft [Member]

Subsequent Event [Member]

Due October 2018

Due October 2018

Airbus A320 [Member]

Due October 2018

Due October 2018

Airbus A320 [Member]

aircraft

Secured Debt

aircraft

aircraft

Number Of Aircraft Used As Collateral

'

'

'

'

'

'

'

'

'

'

1

2

'

'

53

'

'

'

4

'

'

4

Loan Payable (in Dollars)

'

$125,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument LIBOR Percentage Rate Minimum

'

'

'

'

'

1.50%

1.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument Periodic Payment Principal Percent

0.25%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of Company's Excess Cash Flow

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Leverage Ratio

1.5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Secured Long-term Debt, Noncurrent

'

'

8,486,000

9,342,000

14,000,000

120,944,000

121,230,000

'

10,000,000

48,000,000

'

'

4,102,000

45,300,000

'

'

43,575,000

45,775,000

'

9,884,000

9,953,000

'

Interest Rate

'

'

4.65%

4.65%

4.65%

4.25%

4.25%

2.86%

2.86%

3.99%

'

'

'

'

'

'

3.99%

3.99%

'

2.86%

'

'

Repayments of Secured Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

120,944,000

'

'

'

'

'

'

Interest Payable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$200,000

'

'

'

'

'

'

Stockholders_Equity_Detail

Stockholders' Equity (Detail) (USD $)	0 Months Ended	3 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 03, 2014	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Stock Repurchased During Period, Shares (in Shares)	'	730,162	284,283	'
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)	'	$98.82	$78.15	'
Payments for Repurchase of Common Stock	'	$4,987	$2,877	'
Stock Repurchase Program, Remaining Authorized Repurchase Amount	'	67,657	'	'
DividendsPaidCommonAndRestrictedStock	'	'	'	$2.25
PaymentOfDividendsParticipatingSecurities	41,787	41,787	0	'
Open Market Purchases	'	'	'	'
Payments for Repurchase of Common Stock	'	$72,157	$22,218	'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Disclosures [Abstract]	'	'
Debt Instrument, Fair Value Disclosure	$218,542	$224,850
Long-term Debt, Fair Value	$229,339	$234,300

Fair_Value_Measurements_Detail1

Fair Value Measurements (Detail) - Fair Value Measurements at Reporting Date Using (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment Securities	$276,274	$333,093
Estimate of Fair Value	'	'
Investment Securities	'	333,093
Estimate of Fair Value | Cash equivalents	'	'
Cash Equivalents	581	43,678
Estimate of Fair Value | Short-term investments	'	'
Investment Securities	254,769	253,378
Estimate of Fair Value | Long-term investments	'	'
Investment Securities	276,274	36,037
Fair Value, Inputs, Level 1	'	'
Investment Securities	'	20,172
Fair Value, Inputs, Level 1 | Cash equivalents	'	'
Cash Equivalents	239	20,172
Fair Value, Inputs, Level 1 | Short-term investments	'	'
Investment Securities	0	0
Fair Value, Inputs, Level 1 | Long-term investments	'	'
Investment Securities	239	0
Fair Value, Inputs, Level 2	'	'
Investment Securities	'	312,921
Fair Value, Inputs, Level 2 | Cash equivalents	'	'
Cash Equivalents	342	23,506
Fair Value, Inputs, Level 2 | Short-term investments	'	'
Investment Securities	254,769	253,378
Fair Value, Inputs, Level 2 | Long-term investments	'	'
Investment Securities	276,035	36,037
Fair Value, Inputs, Level 3	'	'
Cash Equivalents	0	0
Investment Securities	'	0
Fair Value, Inputs, Level 3 | Short-term investments	'	'
Investment Securities	0	0
Fair Value, Inputs, Level 3 | Long-term investments	'	'
Investment Securities	0	0
Money market funds | Estimate of Fair Value | Cash equivalents	'	'
Cash Equivalents	239	20,172
Money market funds | Fair Value, Inputs, Level 1 | Cash equivalents	'	'
Cash Equivalents	239	20,172
Money market funds | Fair Value, Inputs, Level 2	'	'
Cash Equivalents	0	0
Money market funds | Fair Value, Inputs, Level 3	'	'
Cash Equivalents	0	0
Commercial paper | Estimate of Fair Value | Short-term investments	'	'
Investment Securities	77,796	75,911
Commercial paper | Fair Value, Inputs, Level 1 | Short-term investments	'	'
Investment Securities	0	0
Commercial paper | Fair Value, Inputs, Level 2 | Short-term investments	'	'
Investment Securities	77,796	75,911
Commercial paper | Fair Value, Inputs, Level 3 | Short-term investments	'	'
Investment Securities	0	0
Municipal debt securities | Estimate of Fair Value | Cash equivalents	'	'
Cash Equivalents	342	23,506
Municipal debt securities | Estimate of Fair Value | Short-term investments	'	'
Investment Securities	117,915	122,325
Municipal debt securities | Estimate of Fair Value | Long-term investments	'	'
Investment Securities	20,924	36,037
Municipal debt securities | Fair Value, Inputs, Level 1	'	'
Cash Equivalents	0	0
Municipal debt securities | Fair Value, Inputs, Level 1 | Short-term investments	'	'
Investment Securities	0	0
Municipal debt securities | Fair Value, Inputs, Level 1 | Long-term investments	'	'
Investment Securities	0	0
Municipal debt securities | Fair Value, Inputs, Level 2 | Cash equivalents	'	'
Cash Equivalents	342	23,506
Municipal debt securities | Fair Value, Inputs, Level 2 | Short-term investments	'	'
Investment Securities	117,915	122,325
Municipal debt securities | Fair Value, Inputs, Level 2 | Long-term investments	'	'
Investment Securities	20,924	36,037
Municipal debt securities | Fair Value, Inputs, Level 3	'	'
Cash Equivalents	0	0
Municipal debt securities | Fair Value, Inputs, Level 3 | Short-term investments	'	'
Investment Securities	0	0
Municipal debt securities | Fair Value, Inputs, Level 3 | Long-term investments	'	'
Investment Securities	0	0
Corporate debt securities | Estimate of Fair Value | Short-term investments	'	'
Investment Securities	39,045	45,134
Corporate debt securities | Fair Value, Inputs, Level 1 | Short-term investments	'	'
Investment Securities	0	0
Corporate debt securities | Fair Value, Inputs, Level 2 | Short-term investments	'	'
Investment Securities	39,045	45,134
Corporate debt securities | Fair Value, Inputs, Level 3 | Short-term investments	'	'
Investment Securities	0	0
Government debt securities | Estimate of Fair Value | Short-term investments	'	'
Investment Securities	10,003	10,008
Government debt securities | Estimate of Fair Value | Long-term investments	'	'
Investment Securities	20,924	'
Government debt securities | Fair Value, Inputs, Level 1 | Short-term investments	'	'
Investment Securities	0	0
Government debt securities | Fair Value, Inputs, Level 1 | Long-term investments	'	'
Investment Securities	0	'
Government debt securities | Fair Value, Inputs, Level 2 | Short-term investments	'	'
Investment Securities	10,003	10,008
Government debt securities | Fair Value, Inputs, Level 2 | Long-term investments	'	'
Investment Securities	20,924	'
Government debt securities | Fair Value, Inputs, Level 3 | Short-term investments	'	'
Investment Securities	0	0
Government debt securities | Fair Value, Inputs, Level 3 | Long-term investments	'	'
Investment Securities	0	'
Certificates of deposit | Estimate of Fair Value | Short-term investments	'	'
Investment Securities	10,010	'
Certificates of deposit | Fair Value, Inputs, Level 1 | Short-term investments	'	'
Investment Securities	0	'
Certificates of deposit | Fair Value, Inputs, Level 2 | Short-term investments	'	'
Investment Securities	10,010	'
Certificates of deposit | Fair Value, Inputs, Level 3 | Short-term investments	'	'
Investment Securities	$0	'

Earnings_per_Share_Detail_Earn

Earnings per Share (Detail) - Earnings Per Share (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Basic:	'	'
Net income attributable to Allegiant Travel Company (in Dollars)	$34,222	$31,932
Net income attributable to common stock (in Dollars)	33,969	31,718
Net income per share, diluted (in Dollars per share)	$1.86	$1.65
Net income attributable to common stock (in Dollars)	33,968	31,716
Net income per share, basic (in Dollars per share)	$1.87	$1.66
Weighted-average shares outstanding	18,166	19,081
Dilutive effect of stock options, restricted stock and stock-settled stock appreciation rights	121	172
Adjusted weighted-average shares outstanding under treasury stock method	18,287	19,253
Participating securities excluded under two-class method	-39	-46
Two-Class Method, Weighted Average Number of Shares Outstanding, Diluted	18,248	19,207
Basic	'	'
Basic:	'	'
Less: Net income allocated to participating securities (in Dollars)	254	216
Diluted	'	'
Basic:	'	'
Less: Net income allocated to participating securities (in Dollars)	$253	$214

Commitments_and_Contingencies_

Commitments and Contingencies (Detail) (USD $)	Mar. 31, 2014	Aug. 31, 2013	Aug. 31, 2012	Mar. 31, 2014
In Thousands, unless otherwise specified		Airbus A320 [Member]	Airbus A319 [Member]	Airbus A319 [Member]
		Capital Addition Purchase Commitments [Member]	aircraft	aircraft
		aircraft
Long-term Purchase Commitment [Line Items]	'	'	'	'
Number Of Aircraft Committed To Purchase	'	2	'	'
Number Of Aircraft Leased	'	'	9	2
Purchase Commitment, Remaining Minimum Amount Committed	$23,360	'	'	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2014	Jun. 30, 2012	Mar. 31, 2014	Apr. 30, 2014
	Due April 2018	Boeing 757 [Member]	Boeing 757 [Member]	MD-80 Aircraft [Member]	Due March 2017
	Subsequent Event [Member]	aircraft	aircraft	Subsequent Event [Member]	Secured Debt
				aircraft	Subsequent Event [Member]
Subsequent Event [Line Items]	'	'	'	'	'
Secured Long-term Debt, Noncurrent	$45,300,000	'	'	'	'
Number Of Aircraft Used As Collateral	'	1	2	53	'
Repayments of Secured Debt	'	'	'	'	120,944,000
Interest Payable	'	'	'	'	$200,000