Allegiant Travel (ALGT) 10-Q 2 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 15, 2016
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		16,528,261
Amendment Flag	false
Entity Central Index Key	1,362,468
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	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 102,134	$ 87,112
Restricted cash	9,323	10,358
Short-term investments	240,654	245,583
Accounts receivable	14,346	15,146
Expendable parts, supplies and fuel, net	15,581	15,583
Prepaid expenses	16,316	18,276
Other current assets	2,161	3,185
TOTAL CURRENT ASSETS	400,515	395,243
Property and equipment, net	930,550	885,942
Long-term investments	68,434	64,752
Deposits and other assets	5,296	5,725
TOTAL ASSETS	1,404,795	1,351,662
CURRENT LIABILITIES:
Accounts payable	11,070	6,801
Accrued liabilities	91,080	109,462
Air traffic liability	241,218	198,136
Current maturities of notes payable, net of related costs	79,767	74,069
TOTAL CURRENT LIABILITIES	423,135	388,468
Long-term debt, net of current maturities and related costs	571,280	567,609
Deferred income taxes	47,919	45,580
TOTAL LIABILITIES:	1,042,334	1,001,657
SHAREHOLDERS' EQUITY:
Common stock, par value $.001	22	22
Treasury stock	(509,048)	(453,415)
Additional paid in capital	230,519	228,945
Accumulated other comprehensive income, net	423	834
Retained earnings	640,545	573,619
TOTAL SHAREHOLDERS' EQUITY	362,461	350,005
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,404,795	$ 1,351,662

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash dividend declared per share:	$ 0.30	$ 0.25
OPERATING REVENUE:
Scheduled service revenue	$ 201,606	$ 200,529
Ancillary revenue:
Air-related charges	120,929	105,069
Third party products	11,258	10,797
Total ancillary revenue	132,187	115,866
Fixed fee contract revenue	6,800	4,368
Other revenue	8,022	8,478
Total operating revenue	348,615	329,241
OPERATING EXPENSES:
Aircraft fuel	53,659	69,626
Salary and benefits	69,208	58,553
Station operations	30,734	23,852
Maintenance and repairs	26,492	21,392
Depreciation and amortization	24,685	24,347
Sales and marketing	5,808	7,101
Aircraft Rental	233	718
Other	16,670	15,553
Total operating expenses	227,489	221,142
OPERATING INCOME	121,126	108,099
OTHER (INCOME) EXPENSE:
Interest income	(966)	(105)
Interest expense	7,239	6,826
Other, net	(9)	4
Total other expense	6,264	6,725
INCOME BEFORE INCOME TAXES	114,862	101,374
Provision for income taxes	42,882	36,551
NET INCOME	71,980	64,823
Net loss attributable to noncontrolling interest	0	(44)
NET INCOME ATTRIBUTABLE TO ALLEGIANT TRAVEL COMPANY	$ 71,980	$ 64,867
Earnings per share to common shareholders:
Basic	$ 4.29	$ 3.75
Diluted	$ 4.29	$ 3.74
Shares used for computation:
Basic	16,678	17,197
Diluted	16,699	17,237

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income	$ 71,980	$ 64,823
OTHER COMPREHENSIVE INCOME (LOSS):
Change in available for sale securities, net of tax	291	303
Foreign currency translation adjustment	(105)	0
Change in derivatives, net of tax	(331)	994
Reclassification of derivative gains into Other revenue	(266)	(477)
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME	(411)	820
TOTAL COMPREHENSIVE INCOME	71,569	65,643
Net loss attributable to noncontrolling interest	0	(44)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ALLEGIANT TRAVEL COMPANY	$ 71,569	$ 65,687

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES:
Net income	$ 71,980	$ 64,823
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	24,685	24,347
(Gain)/loss on aircraft and other equipment disposals	(1,950)	2,816
Provision for obsolescence of expendable parts, supplies and fuel	495	394
Amortization of deferred financing costs	357	242
Share-based compensation expense	2,287	5,033
Deferred income taxes	2,234	1,993
Excess tax benefits from share-based compensation	0	(1,734)
Changes in certain assets and liabilities:
Accounts receivable	0	0
Prepaid expenses	1,960	(2,552)
Accounts payable	4,269	4,612
Accrued liabilities	8,633	12,489
Air traffic liability	43,082	48,446
Other, net	2,407	2,051
Net cash provided by operating activities	160,439	162,960
INVESTING ACTIVITIES:
Purchase of investment securities	(89,994)	(82,335)
Proceeds from maturities of investment securities	91,533	79,433
Purchase of property and equipment, including pre-delivery deposits	(71,689)	(64,128)
Other investing activities	4,061	145
Net cash used by investing activities	(66,089)	(66,885)
FINANCING ACTIVITIES:
Cash dividends paid to shareholders	(32,783)	(48,050)
Excess tax benefits from share-based compensation	0	1,734
Proceeds from the issuance of long-term debt	28,000	37,500
Repurchase of common stock	(55,633)	(54,739)
Principal payments on long-term debt	(18,677)	(13,336)
Other financing activities	(235)	(1,686)
Net cash used by financing activities	(79,328)	(78,577)
Net change in cash and cash equivalents	15,022	17,498
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	87,112	89,610
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 102,134	$ 107,108

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
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, 2015, 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 may 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. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2016-09, which is intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. This ASU is effective for fiscal years, and interim periods within those years, beginning on or after December 15, 2016 and early adoption is permitted. The Company has adopted the changes related to income taxes and cash flow presentation for excess tax benefits as of March 31, 2016 on a prospective basis, and prior periods have not been retrospectively adjusted. The remaining provisions of this ASU do not have an impact on the Company's Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02 related to leases. This standard will require leases with durations greater than twelve months to be recognized on the balance sheet and is effective for interim and annual reporting periods beginning after December 15, 2018, although early adoption is permitted. The Company is currently assessing the impact of this new standard, specifically on its Consolidated Balance Sheets, but does not expect adoption to significantly change the recognition, measurement or presentation of lease expenses within the Consolidated Statements of Income or Cash Flows. In May 2014, the FASB issued ASU 2014-09, intended to create a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. On April 1, 2015, the FASB proposed deferring the effective date by one year, to December 15, 2017, for annual and interim periods beginning after that date. The FASB also proposed permitting early adoption of the standard, but not before the original effective date of December 15, 2016. The Company is currently evaluating the impact on its financial statements of adopting this new accounting standard.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [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 ("AOCI") in shareholders’ equity. Excluded from the following table is the change in fair value attributable to the foreign currency risk being hedged. Refer to Note 6 - Derivative Instruments for additional information related to the Company's foreign currency hedge. 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. Investment securities (in thousands): As of March 31, 2016 As of December 31, 2015 Net Unrealized Net Unrealized Cost Gains (Losses) Market Value Cost Gains (Losses) Market Value Commercial paper $ 101,595 $ 12 $ (8 ) $ 101,599 $ 83,155 $ — $ (1 ) $ 83,154 Corporate debt securities 97,727 31 (48 ) 97,710 108,485 50 (154 ) 108,381 Federal agency debt securities 66,669 8 (19 ) 66,658 73,783 — (80 ) 73,703 Municipal debt securities 50,642 1 (14 ) 50,629 52,669 2 (1 ) 52,670 Money market funds 11,424 — — 11,424 781 — — 781 US Treasury bond 4,609 2 — 4,611 1,607 — (1 ) 1,606 Total $ 332,666 $ 54 $ (89 ) $ 332,631 $ 320,480 $ 52 $ (237 ) $ 320,295

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure	Property and Equipment Property and equipment (in thousands): As of March 31, 2016 As of December 31, 2015 Flight equipment $ 1,177,090 $ 1,123,115 Computer hardware and software 84,725 78,200 Ground property and equipment 73,934 72,078 Total property and equipment 1,335,749 1,273,393 Less accumulated depreciation and amortization (405,199 ) (387,451 ) Property and equipment, net $ 930,550 $ 885,942

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt (in thousands): As of March 31, 2016 As of December 31, 2015 Fixed-rate notes payable due through 2020 $ 339,347 $ 341,738 Variable-rate notes payable due through 2021 311,700 299,940 Total long-term debt, net of related costs 651,047 641,678 Less current maturities 79,767 74,069 Long-term debt, net of current maturities and related costs $ 571,280 $ 567,609 Maturities of long-term debt for the remainder of 2016 and for the next four years and thereafter, in aggregate (in thousands): As of March 31, 2016 Remaining in 2016 $ 59,632 2017 81,673 2018 138,563 2019 342,638 2020 27,037 Thereafter 1,504 Total $ 651,047 Secured Debt In January 2016, the Company borrowed $28.0 million secured by two Airbus A319 aircraft. The notes bear interest at a floating rate based on LIBOR plus 1.75 percent and are payable in quarterly installments through January 2021.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value, Measurement Inputs, Disclosure	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 by selling 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 commercial paper, municipal debt securities, federal agency debt securities, US Treasury Bonds, 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. The Company has no investment securities classified as Level 3. For those assets classified as Level 2 that are not in active markets, the Company obtains fair value from pricing sources using quoted market prices for identical or comparable instruments, and uses pricing models which include all significant observable inputs: maturity dates, issue dates, settlement dates, 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. The fair value of the Company's derivative instrument is determined using standard valuation models. The significant inputs used in these models are readily available in public markets or can be derived from observable market transactions and therefore have been classified as Level 2. Inputs used in these standard valuation models for derivative instruments include the applicable exchange and interest rates. Financial instruments measured at fair value on a recurring basis (in thousands): As of Level 1 Level 2 Cash equivalents Money market funds $ 11,424 $ 11,424 $ — Commercial paper 11,095 — 11,095 Municipal debt securities 1,024 — 1,024 Total cash equivalents 23,543 11,424 12,119 Short-term Commercial paper 90,504 — 90,504 Corporate debt securities 72,715 — 72,715 Municipal debt securities 49,007 — 49,007 Federal agency debt securities 26,823 — 26,823 US Treasury Bonds 1,605 — 1,605 Total short-term 240,654 — 240,654 Long-term Federal agency debt securities 39,835 — 39,835 Corporate debt securities 24,995 — 24,995 US Treasury Bonds 3,006 — 3,006 Derivative instruments 1,807 — 1,807 Municipal debt securities 598 — 598 Total long-term 70,241 — 70,241 Total financial instruments $ 334,438 $ 11,424 $ 323,014 As of Level 1 Level 2 Cash equivalents Commercial paper $ 8,426 $ — $ 8,426 Money market funds 781 781 — Municipal debt securities 754 — 754 Total cash equivalents 9,961 781 9,180 Short-term Corporate debt securities 80,957 — 80,957 Commercial paper 74,728 — 74,728 Municipal debt securities 47,073 — 47,073 Federal agency debt securities 42,825 — 42,825 Total short-term 245,583 — 245,583 Long-term Federal agency debt securities 30,878 — 30,878 Corporate debt securities 27,425 — 27,425 Municipal debt securities 4,843 — 4,843 Derivative instruments 2,480 — 2,480 US Treasury Bonds 1,606 — 1,606 Total long-term 67,232 — 67,232 Total financial instruments $ 322,776 $ 781 $ 321,995 The fair value of the Company’s publicly held long-term debt is determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets; therefore, the Company has categorized its publicly held debt as Level 2. The remaining debt agreements are not publicly held. The Company has determined the estimated fair value of these notes to be Level 3, as certain inputs used to determine the fair value of these agreements are unobservable and, therefore, could be sensitive to changes in inputs. The Company utilizes the discounted cash flow method to estimate the fair value of Level 3 debt. Carrying value and estimated fair value of long-term debt, including current maturities and excluding related costs (in thousands): As of March 31, 2016 As of December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Hierarchy Level Publicly held debt $ 300,000 $ 309,750 $ 300,000 $ 299,250 2 Non-publicly held debt 355,492 332,634 346,179 327,321 3 Total long-term debt $ 655,492 $ 642,384 $ 646,179 $ 626,571 Due to the short term nature, carrying amounts of cash, cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure	Derivative Instruments The Company entered into a foreign currency swap in order to mitigate the foreign currency exchange rate risk associated with the forecasted lease revenue from 12 Airbus A320 series aircraft leased to a European carrier until 2018. The Company uses a cash flow hedge to minimize the variability in cash flows of assets, liabilities and forecasted transactions caused by fluctuations in foreign currency exchange rates. At March 31, 2016 , the net change in fair value recorded in accumulated other comprehensive income related to the unrealized loss on the hedge was $0.3 million , when compared to the fair value at December 31, 2015. At inception, the Company formally designated and documented this financial instrument as a hedge of a specific underlying exposure, the risk management objective, and the strategy for undertaking the hedge transaction. The Company also assessed whether the financial instrument used in the hedging transactions was effective at offsetting changes in either the fair values or cash flows of the related underlying exposures. This assessment is monitored on at least a quarterly basis, and the change in fair market value of any ineffective portion of a financial instrument would be immediately recognized into earnings. For the three months ended March 31, 2016 , the Company realized $0.3 million in net gains from its cash flow hedge into Other revenue, and as of March 31, 2016 , expects $0.6 million to be reclassified from Other comprehensive income into Other revenue within the next 12 months. At March 31, 2016 , the fair value of the Company's derivative instrument was $1.8 million and is reported in the Company's consolidated balance sheet within deposits and other assets. Refer to Note 5 - Fair Value Measurements for additional information related to the estimated fair value.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders' Equity	Shareholders’ Equity The Company is authorized by the Board of Directors to acquire its stock through open market purchases under its share repurchase program. As repurchase authority is used, the Board of Directors has, to date, authorized additional expenditures for share repurchases. Share repurchases consisted of the following during the periods indicated: Three Months Ended March 31, 2016 2015 Shares repurchased 314,849 291,134 Average price per share $171.54 $180.78 Total (in thousands) $54,009 $52,632 During the three months ended March 31, 2016 , the Company declared and paid recurring cash dividends of $0.30 per share, or $5.1 million .

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2016
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. 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 the two methods. Under both methods, the exercise of employee stock options is 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, 2016 , 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 (share and dollar amounts in thousands): Three Months Ended March 31, 2016 2015 Basic: Net income attributable to Allegiant Travel Company $ 71,980 $ 64,867 Less net income allocated to participating securities (370 ) (345 ) Net income attributable to common stock $ 71,610 $ 64,522 Net income per share, basic $ 4.29 $ 3.75 Weighted-average shares outstanding 16,678 17,197 Diluted: Net income attributable to Allegiant Travel Company $ 71,980 $ 64,867 Less net income allocated to participating securities (370 ) (344 ) Net income attributable to common stock $ 71,610 $ 64,523 Net income per share, diluted $ 4.29 $ 3.74 Weighted-average shares outstanding 16,678 17,197 Dilutive effect of stock options, restricted stock and stock-settled stock appreciation rights 50 81 Adjusted weighted-average shares outstanding under treasury stock method 16,728 17,278 Participating securities excluded under two-class method (29 ) (41 ) Adjusted weighted-average shares outstanding under two-class method 16,699 17,237 For the three months ended March 31, 2016 , anti-dilutive shares excluded from the calculation of earnings per share were not material.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
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 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. As of March 31, 2016 , the Company had firm commitments to purchase the following aircraft: Aircraft Type Number of Aircraft Under Contract Airbus A319 3 Airbus A320 15 Future minimum fixed payments for the Company's commitments related to the acquisition of aircraft, airport fees under use and lease agreements, and other operating lease obligations (in thousands): As of March 31, 2016 Remaining in 2016 $ 61,433 2017 82,907 2018 39,632 2019 66,282 2020 36,075 Thereafter 3,346 Total commitments $ 289,675

Related Party

Related Party	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	Related Party Transactions The Company previously entered into lease agreements for approximately 70,000 and 10,000 square feet of office space in buildings for which the Company’s Chairman and Chief Executive Officer ("CEO") and an additional member of its Board of Directors owned minority interests as limited partners. For the three months ended March 31, 2015 , the Company made rent payments of $0.7 million for the lease of 10,000 square feet of space. Beginning in 2016, such payments are no longer being made to a related party entity as the lender has taken ownership of the property. Additionally, the Company exercised its option to terminate the lease for 70,000 square feet of space effective in May 2015. The Company paid $1.3 million in January 2016 in settlement of litigation in connection with the termination of this lease. Game Plane, LLC, a wholly owned subsidiary of the Company, partnered with Alpine Labs, LLC to produce and distribute game shows filmed on Company flights. The Company’s Chairman and CEO owns a 25 percent interest in, and is on the managing board of, Alpine Labs, LLC. For the three months ended March 31 2015 , the Company made payments of $0.4 million to Alpine Labs, LLC. No payments were made for the three months ended March 31, 2016, as no additional shows are being filmed. The Company does not expect any further expenses related to this project. GMS Racing, LLC competes in the NASCAR Camping World Truck Series and ARCA Racing Series. The Company's Chairman and CEO owns a controlling interest in GMS Racing, LLC. During the three months ended March 31, 2015, the Company made sponsorship payments totaling $0.9 million to GMS Racing, LLC. No payments were made for the three months ended March 31, 2016 and no future payments are anticipated. For each of the three months ended March 31, 2016 and 2015, the Company made payments of $0.4 million to entities owned or controlled by the Company's Chairman and CEO for the building of corporate training content, with a current focus on the Company's operating groups. This approach to training focuses on concept mastery, recognizing that individuals learn at varying paces, through different styles, and is designed to ensure the trainee fully understands each module before moving on to more advanced training. The Company also expects program development to facilitate recurrent training and to contribute to cost savings in the future, and is in the process of seeking approval from the Federal Aviation Administration on various aspects of this training program. The project is expected to conclude in 2016.

Summary of Significant Accoun16

Summary of Significant Accounting Policies - (Policies)	3 Months Ended
	Mar. 31, 2016
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, 2015, 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 may 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.
New Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2016-09, which is intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. This ASU is effective for fiscal years, and interim periods within those years, beginning on or after December 15, 2016 and early adoption is permitted. The Company has adopted the changes related to income taxes and cash flow presentation for excess tax benefits as of March 31, 2016 on a prospective basis, and prior periods have not been retrospectively adjusted. The remaining provisions of this ASU do not have an impact on the Company's Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02 related to leases. This standard will require leases with durations greater than twelve months to be recognized on the balance sheet and is effective for interim and annual reporting periods beginning after December 15, 2018, although early adoption is permitted. The Company is currently assessing the impact of this new standard, specifically on its Consolidated Balance Sheets, but does not expect adoption to significantly change the recognition, measurement or presentation of lease expenses within the Consolidated Statements of Income or Cash Flows. In May 2014, the FASB issued ASU 2014-09, intended to create a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. On April 1, 2015, the FASB proposed deferring the effective date by one year, to December 15, 2017, for annual and interim periods beginning after that date. The FASB also proposed permitting early adoption of the standard, but not before the original effective date of December 15, 2016. The Company is currently evaluating the impact on its financial statements of adopting this new accounting standard.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Investment Securities	Investment securities (in thousands): As of March 31, 2016 As of December 31, 2015 Net Unrealized Net Unrealized Cost Gains (Losses) Market Value Cost Gains (Losses) Market Value Commercial paper $ 101,595 $ 12 $ (8 ) $ 101,599 $ 83,155 $ — $ (1 ) $ 83,154 Corporate debt securities 97,727 31 (48 ) 97,710 108,485 50 (154 ) 108,381 Federal agency debt securities 66,669 8 (19 ) 66,658 73,783 — (80 ) 73,703 Municipal debt securities 50,642 1 (14 ) 50,629 52,669 2 (1 ) 52,670 Money market funds 11,424 — — 11,424 781 — — 781 US Treasury bond 4,609 2 — 4,611 1,607 — (1 ) 1,606 Total $ 332,666 $ 54 $ (89 ) $ 332,631 $ 320,480 $ 52 $ (237 ) $ 320,295

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	Property and equipment (in thousands): As of March 31, 2016 As of December 31, 2015 Flight equipment $ 1,177,090 $ 1,123,115 Computer hardware and software 84,725 78,200 Ground property and equipment 73,934 72,078 Total property and equipment 1,335,749 1,273,393 Less accumulated depreciation and amortization (405,199 ) (387,451 ) Property and equipment, net $ 930,550 $ 885,942

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt (in thousands): As of March 31, 2016 As of December 31, 2015 Fixed-rate notes payable due through 2020 $ 339,347 $ 341,738 Variable-rate notes payable due through 2021 311,700 299,940 Total long-term debt, net of related costs 651,047 641,678 Less current maturities 79,767 74,069 Long-term debt, net of current maturities and related costs $ 571,280 $ 567,609

Long-Term Debt Schedule of Matu

Long-Term Debt Schedule of Maturities of Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Schedule of Maturities of Long-Term Debt [Abstract]
Schedule of Maturities of Long-term Debt	Maturities of long-term debt for the remainder of 2016 and for the next four years and thereafter, in aggregate (in thousands): As of March 31, 2016 Remaining in 2016 $ 59,632 2017 81,673 2018 138,563 2019 342,638 2020 27,037 Thereafter 1,504 Total $ 651,047

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value On a Recurring Basis	Financial instruments measured at fair value on a recurring basis (in thousands): As of Level 1 Level 2 Cash equivalents Money market funds $ 11,424 $ 11,424 $ — Commercial paper 11,095 — 11,095 Municipal debt securities 1,024 — 1,024 Total cash equivalents 23,543 11,424 12,119 Short-term Commercial paper 90,504 — 90,504 Corporate debt securities 72,715 — 72,715 Municipal debt securities 49,007 — 49,007 Federal agency debt securities 26,823 — 26,823 US Treasury Bonds 1,605 — 1,605 Total short-term 240,654 — 240,654 Long-term Federal agency debt securities 39,835 — 39,835 Corporate debt securities 24,995 — 24,995 US Treasury Bonds 3,006 — 3,006 Derivative instruments 1,807 — 1,807 Municipal debt securities 598 — 598 Total long-term 70,241 — 70,241 Total financial instruments $ 334,438 $ 11,424 $ 323,014 As of Level 1 Level 2 Cash equivalents Commercial paper $ 8,426 $ — $ 8,426 Money market funds 781 781 — Municipal debt securities 754 — 754 Total cash equivalents 9,961 781 9,180 Short-term Corporate debt securities 80,957 — 80,957 Commercial paper 74,728 — 74,728 Municipal debt securities 47,073 — 47,073 Federal agency debt securities 42,825 — 42,825 Total short-term 245,583 — 245,583 Long-term Federal agency debt securities 30,878 — 30,878 Corporate debt securities 27,425 — 27,425 Municipal debt securities 4,843 — 4,843 Derivative instruments 2,480 — 2,480 US Treasury Bonds 1,606 — 1,606 Total long-term 67,232 — 67,232 Total financial instruments $ 322,776 $ 781 $ 321,995
Fair Value, Liabilities Measured on Recurring Basis	Carrying value and estimated fair value of long-term debt, including current maturities and excluding related costs (in thousands): As of March 31, 2016 As of December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Hierarchy Level Publicly held debt $ 300,000 $ 309,750 $ 300,000 $ 299,250 2 Non-publicly held debt 355,492 332,634 346,179 327,321 3 Total long-term debt $ 655,492 $ 642,384 $ 646,179 $ 626,571

Stockholders' Equity Repurchase

Stockholders' Equity Repurchases (Tables)	3 Months Ended
	Mar. 31, 2016
Equity, Class of Treasury Stock [Line Items]
Treasury Stock [Text Block]	Share repurchases consisted of the following during the periods indicated: Three Months Ended March 31, 2016 2015 Shares repurchased 314,849 291,134 Average price per share $171.54 $180.78 Total (in thousands) $54,009 $52,632

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2016
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 (share and dollar amounts in thousands): Three Months Ended March 31, 2016 2015 Basic: Net income attributable to Allegiant Travel Company $ 71,980 $ 64,867 Less net income allocated to participating securities (370 ) (345 ) Net income attributable to common stock $ 71,610 $ 64,522 Net income per share, basic $ 4.29 $ 3.75 Weighted-average shares outstanding 16,678 17,197 Diluted: Net income attributable to Allegiant Travel Company $ 71,980 $ 64,867 Less net income allocated to participating securities (370 ) (344 ) Net income attributable to common stock $ 71,610 $ 64,523 Net income per share, diluted $ 4.29 $ 3.74 Weighted-average shares outstanding 16,678 17,197 Dilutive effect of stock options, restricted stock and stock-settled stock appreciation rights 50 81 Adjusted weighted-average shares outstanding under treasury stock method 16,728 17,278 Participating securities excluded under two-class method (29 ) (41 ) Adjusted weighted-average shares outstanding under two-class method 16,699 17,237

Commitments and Contingencies C

Commitments and Contingencies Commitments to Purchase (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments to Purchase Aircraft [Abstract]
Long-term Purchase Commitment	As of March 31, 2016 , the Company had firm commitments to purchase the following aircraft: Aircraft Type Number of Aircraft Under Contract Airbus A319 3 Airbus A320 15

Commitments and Contingencies P

Commitments and Contingencies Payments Related to Commitments to Purchase (Tables)	3 Months Ended
	Mar. 31, 2016
Payments Related to Commitments to Purchase [Abstract]
Long-term Purchase Commitment [Table Text Block]	Future minimum fixed payments for the Company's commitments related to the acquisition of aircraft, airport fees under use and lease agreements, and other operating lease obligations (in thousands): As of March 31, 2016 Remaining in 2016 $ 61,433 2017 82,907 2018 39,632 2019 66,282 2020 36,075 Thereafter 3,346 Total commitments $ 289,675

Investment Securities (Detail)

Investment Securities (Detail) - Investment Securities - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Cost	$ 332,666	$ 320,480
Gross Unrealized Gains	54	52
Gross Unrealized Losses	(89)	(237)
Market Value	332,631	320,295
Commercial paper
Cost	101,595	83,155
Gross Unrealized Gains	12	0
Gross Unrealized Losses	(8)	(1)
Market Value	101,599	83,154
Corporate debt securities
Cost	97,727	108,485
Gross Unrealized Gains	31	50
Gross Unrealized Losses	(48)	(154)
Market Value	97,710	108,381
Federal agency debt securities
Cost	66,669	73,783
Gross Unrealized Gains	8	0
Gross Unrealized Losses	(19)	(80)
Market Value	66,658	73,703
Municipal debt securities
Cost	50,642	52,669
Gross Unrealized Gains	1	2
Gross Unrealized Losses	(14)	(1)
Market Value	50,629	52,670
Money market funds
Cost	11,424	781
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Market Value	11,424	781
U.S. Treasury bond
Cost	4,609	1,607
Gross Unrealized Gains	2	0
Gross Unrealized Losses	0	(1)
Market Value	$ 4,611	$ 1,606

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Flight equipment	$ 1,177,090	$ 1,123,115
Computer Hardware and Software	84,725	78,200
Ground property and equipment	73,934	72,078
Total property and equipment	1,335,749	1,273,393
Less accumulated depreciation and amortization	405,199	387,451
Property and equipment, net	$ 930,550	$ 885,942

Long-Term Debt Long-Term Debt -

Long-Term Debt Long-Term Debt - Components of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Notes Payable	$ 655,492	$ 646,179
Secured Long-term Debt, Noncurrent	651,047	641,678
Less current maturities	79,767	74,069
Long-term debt, net of current maturities and related costs	571,280	567,609
Fixed Rate Notes Payable Through 2020
Debt Instrument [Line Items]
Notes Payable	339,347	341,738
Variable Rate Notes Payable Through 2020
Debt Instrument [Line Items]
Notes Payable	$ 311,700	$ 299,940

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Secured Long-term Debt, Noncurrent	$ 651,047	$ 641,678
Debt Instrument, Interest Rate, Stated Percentage	1.75%
Due January 2021
Secured Long-term Debt, Noncurrent	$ 28,000
Airbus A319 | Due January 2021
Debt Instrument, Collateral	2

Long-Term Debt Schedule of Ma30

Long-Term Debt Schedule of Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 59,632
Long-term Debt, Maturities, Repayments of Principal in Year Two	81,673
Long-term Debt, Maturities, Repayments of Principal in Year Three	138,563
Long-term Debt, Maturities, Repayments of Principal in Year Four	342,638
Long-term Debt, Maturities, Repayments of Principal in Year Five	27,037
Long-term Debt, Maturities, Repayments of Principal after Year Five	1,504
Long-term Debt, Fair Value	$ 651,047	$ 641,678

Fair Value Measurements (Detail

Fair Value Measurements (Detail) - Fair Value Measurements at Reporting Date Using - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Investment Securities	$ 332,631	$ 320,295
Fair Value, Measurements, Recurring
Cash Equivalents		9,961
Investment Securities	334,438	322,776
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Cash Equivalents		781
Investment Securities	11,424	781
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Cash Equivalents		9,180
Investment Securities	323,014	321,995
Fair Value, Measurements, Recurring | Commercial paper
Cash Equivalents		781
Fair Value, Measurements, Recurring | Commercial paper | Fair Value, Inputs, Level 1
Cash Equivalents		781
Fair Value, Measurements, Recurring | Commercial paper | Fair Value, Inputs, Level 2
Cash Equivalents		0
Fair Value, Measurements, Recurring | Corporate debt securities
Cash Equivalents		8,426
Fair Value, Measurements, Recurring | Corporate debt securities | Fair Value, Inputs, Level 1
Cash Equivalents		0
Fair Value, Measurements, Recurring | Corporate debt securities | Fair Value, Inputs, Level 2
Cash Equivalents		8,426
Fair Value, Measurements, Recurring | Municipal debt securities
Cash Equivalents		754
Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 1
Cash Equivalents		0
Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 2
Cash Equivalents		754
Short-term Investments | Fair Value, Measurements, Recurring
Investment Securities	240,654	245,583
Short-term Investments | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Investment Securities	0	0
Short-term Investments | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Investment Securities	240,654	245,583
Short-term Investments | Fair Value, Measurements, Recurring | Corporate debt securities
Investment Securities	90,504	74,728
Short-term Investments | Fair Value, Measurements, Recurring | Corporate debt securities | Fair Value, Inputs, Level 1
Investment Securities	0	0
Short-term Investments | Fair Value, Measurements, Recurring | Corporate debt securities | Fair Value, Inputs, Level 2
Investment Securities	90,504	74,728
Short-term Investments | Fair Value, Measurements, Recurring | Municipal debt securities
Investment Securities	26,823	42,825
Short-term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 1
Investment Securities	0	0
Short-term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 2
Investment Securities	26,823	42,825
Short-term Investments | Fair Value, Measurements, Recurring | Municipal debt securities
Investment Securities	49,007	47,073
Short-term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 1
Investment Securities	0	0
Short-term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 2
Investment Securities	49,007	47,073
Short-term Investments | Fair Value, Measurements, Recurring | Money market funds
Investment Securities	72,715	80,957
Short-term Investments | Fair Value, Measurements, Recurring | Money market funds | Fair Value, Inputs, Level 1
Investment Securities	0	0
Short-term Investments | Fair Value, Measurements, Recurring | Money market funds | Fair Value, Inputs, Level 2
Investment Securities	72,715	80,957
Short-term Investments | Fair Value, Measurements, Recurring | US Treasury Securities
Investment Securities	1,605
Short-term Investments | Fair Value, Measurements, Recurring | US Treasury Securities | Fair Value, Inputs, Level 1
Investment Securities	0
Short-term Investments | Fair Value, Measurements, Recurring | US Treasury Securities | Fair Value, Inputs, Level 2
Investment Securities	1,605
Long Term Investments | Municipal debt securities | Fair Value, Inputs, Level 1
Investment Securities	0
Long Term Investments | Municipal debt securities | Fair Value, Inputs, Level 2
Investment Securities	598
Long Term Investments | Fair Value, Measurements, Recurring
Investment Securities	70,241	67,232
Long Term Investments | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Investment Securities	0	0
Long Term Investments | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Investment Securities	70,241	67,232
Long Term Investments | Fair Value, Measurements, Recurring | Municipal debt securities
Investment Securities	39,835	30,878
Long Term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 1
Investment Securities	0	0
Long Term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 2
Investment Securities	39,835	30,878
Long Term Investments | Fair Value, Measurements, Recurring | Municipal debt securities
Investment Securities	598	4,843
Long Term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 1
Investment Securities		0
Long Term Investments | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 2
Investment Securities		4,843
Long Term Investments | Fair Value, Measurements, Recurring | Money market funds
Investment Securities	24,995	27,425
Long Term Investments | Fair Value, Measurements, Recurring | Money market funds | Fair Value, Inputs, Level 1
Investment Securities	0	0
Long Term Investments | Fair Value, Measurements, Recurring | Money market funds | Fair Value, Inputs, Level 2
Investment Securities	24,995	27,425
Long Term Investments | Fair Value, Measurements, Recurring | US Treasury Securities
Investment Securities	3,006
Derivative Asset		1,606
Long Term Investments | Fair Value, Measurements, Recurring | US Treasury Securities | Fair Value, Inputs, Level 1
Investment Securities	0	0
Long Term Investments | Fair Value, Measurements, Recurring | US Treasury Securities | Fair Value, Inputs, Level 2
Investment Securities	3,006	1,606
Long Term Investments | Fair Value, Measurements, Recurring | Derivative Financial Instruments, Assets
Investment Securities	1,807	2,480
Long Term Investments | Fair Value, Measurements, Recurring | Derivative Financial Instruments, Assets | Fair Value, Inputs, Level 1
Investment Securities	0	0
Long Term Investments | Fair Value, Measurements, Recurring | Derivative Financial Instruments, Assets | Fair Value, Inputs, Level 2
Investment Securities	1,807	$ 2,480
Cash Equivalents [Member] | Fair Value, Measurements, Recurring
Cash Equivalents	23,543
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Cash Equivalents	11,424
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Cash Equivalents	12,119
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Commercial paper
Cash Equivalents	11,424
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Commercial paper | Fair Value, Inputs, Level 1
Cash Equivalents	11,424
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Commercial paper | Fair Value, Inputs, Level 2
Cash Equivalents	0
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Corporate debt securities
Cash Equivalents	11,095
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Corporate debt securities | Fair Value, Inputs, Level 1
Cash Equivalents	0
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Corporate debt securities | Fair Value, Inputs, Level 2
Cash Equivalents	11,095
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Municipal debt securities
Cash Equivalents	1,024
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 1
Cash Equivalents	0
Cash Equivalents [Member] | Fair Value, Measurements, Recurring | Municipal debt securities | Fair Value, Inputs, Level 2
Cash Equivalents	$ 1,024

Fair Value Measurements Estimat

Fair Value Measurements Estimated Fair Value of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	$ 651,047	$ 641,678
Notes Payable	655,492	646,179
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	642,384	626,571
Publicly Held Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	300,000	300,000
Publicly Held Debt | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	309,750	299,250
Non-Publicly Held Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	355,492	346,179
Non-Publicly Held Debt | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	$ 332,634	$ 327,321

Derivative Instruments Derivati

Derivative Instruments Derivative Instruments - Textuals (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2014
Derivative [Line Items]
Assets	$ 1,404,795,000	$ 1,351,662,000
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(331,000)
Derivative, Gain (Loss) on Derivative, Net	266,000
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	555,000
Derivative, Notional Amount	$ 1,807,000
Airbus A320 Aircraft Series
Derivative [Line Items]
Assets			$ 12

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock Repurchased During Period, Shares	314,849	291,134
Treasury Stock Acquired, Average Cost Per Share	$ 171.54	$ 180.78
Stock Repurchased During Period, Value	$ 54,009	$ 52,632
Dividends	$ 5,055
Common Stock, Dividends, Per Share, Cash Paid	$ 0.30

Earnings per Share (Detail) - E

Earnings per Share (Detail) - Earnings Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic:
Net income attributable to Allegiant Travel Company (in Dollars)	$ 71,980	$ 64,867
Less: Net income allocated to participating securities (in Dollars)	(370)	(345)
Net income attributable to common stock (in Dollars)	$ 71,610	$ 64,522
Net income per share, basic (in Dollars per share)	$ 4.29	$ 3.75
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted	$ (370)	$ (344)
Net income attributable to common stock (in Dollars)	$ 71,610	$ 64,523
Net income per share, diluted (in Dollars per share)	$ 4.29	$ 3.74
Weighted-average shares outstanding	16,678	17,197
Dilutive effect of stock options, restricted stock and stock-settled stock appreciation rights	50	81
Adjusted weighted-average shares outstanding under treasury stock method	16,728	17,278
Participating securities excluded under two-class method	(29)	(41)
Two-Class Method, Weighted Average Number of Shares Outstanding, Diluted	16,699	17,237

Commitments and Contingencies (

Commitments and Contingencies (Detail)	Mar. 31, 2016aircraft
Airbus A319
Long-term Purchase Commitment [Line Items]
Number Of Aircraft Committed To Purchase	3
Airbus A320
Long-term Purchase Commitment [Line Items]
Number Of Aircraft Committed To Purchase	15

Commitments and Contingencies37

Commitments and Contingencies Payments Related to Commitments to Purchase (Details) $ in Thousands	Mar. 31, 2016USD ($)
Payments Related to Commitments to Purchase [Abstract]
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year	$ 61,433
Unrecorded Unconditional Purchase Obligation, Due within Two Years	82,907
Unrecorded Unconditional Purchase Obligation, Due within Three Years	39,632
Unrecorded Unconditional Purchase Obligation, Due within Four Years	66,282
Unrecorded Unconditional Purchase Obligation, Due within Five Years	36,075
Unrecorded Unconditional Purchase Obligation, Due after Five Years	3,346
Unrecorded Unconditional Purchase Obligation	$ 289,675

Related Party (Details)

Related Party (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Office Space
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		$ 688
Lease Termination
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 1,300
Game Plane, LLC
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		$ 365
Corporate Training
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 400
Building 1
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction		70,000
Building 2
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction		10,000
Chief Executive Officer | GMS Racing, LLC
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		$ 900
Chief Executive Officer | Beneficial Owner | Stock Ownership
Related Party Transaction [Line Items]
Related Party, Ownership Percentage	25.00%