Allegiant Travel (ALGT) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-33166
Entity Registrant Name	Allegiant Travel Co
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-4745737
Entity Address, Address Line One	1201 North Town Center Drive
Entity Address, City or Town	Las Vegas,
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89144
City Area Code	702
Local Phone Number	851-7300
Title of 12(b) Security	Common stock, par value $0.001
Trading Symbol	ALGT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,296,800
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001362468
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS_(un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 215,799	$ 143,259
Restricted cash	16,338	16,325
Short-term investments	576,115	671,414
Accounts receivable	76,475	70,743
Expendable parts, supplies and fuel, net	35,347	36,335
Prepaid expenses and other current assets	60,381	63,054
TOTAL CURRENT ASSETS	980,455	1,001,130
Property and equipment, net	3,493,396	3,447,111
Long-term investments	59,154	56,004
Deferred major maintenance, net	174,732	165,767
Operating lease right-of-use assets, net	91,971	100,707
Deposits and other assets	103,904	98,691
TOTAL ASSETS:	4,903,612	4,869,410
TOTAL ASSETS:
Accounts payable	71,937	54,484
Accrued liabilities	311,419	305,078
Current operating lease liabilities	22,225	20,873
Air traffic liability	389,956	353,488
Current loyalty program liability	40,837	38,447
Current maturities of long-term debt and finance lease obligations, net of related costs	485,641	439,937
TOTAL CURRENT LIABILITIES	1,322,015	1,212,307
Long-term debt and finance lease obligations, net of current maturities and related costs	1,733,248	1,819,717
Deferred income taxes	387,974	384,602
Noncurrent operating lease liabilities	71,852	82,410
Noncurrent loyalty program liability	33,574	32,366
Other noncurrent liabilities	21,914	9,448
TOTAL LIABILITIES:	3,570,577	3,540,850
TOTAL LIABILITIES:
Common stock, par value $0.001	26	26
Treasury shares	(680,041)	(681,932)
Additional paid in capital	754,255	741,055
Accumulated other comprehensive income, net	2,529	3,991
Retained earnings	1,256,266	1,265,420
TOTAL EQUITY:	1,333,035	1,328,560
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY:	$ 4,903,612	$ 4,869,410

CONSOLIDATED BALANCE SHEETS_(_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
OPERATING REVENUES:
Passenger	$ 594,499	$ 642,747	$ 1,174,434	$ 1,252,023
Third party products	37,102	28,904	70,501	54,942
Fixed fee contracts	17,699	11,741	36,560	25,858
Resort and other	16,983	418	41,193	674
Total operating revenues	666,283	683,810	1,322,688	1,333,497
OPERATING EXPENSES:
Salaries and benefits	209,942	177,170	423,269	336,793
Aircraft fuel	170,060	162,611	340,147	352,157
Station operations	69,798	66,715	136,266	128,234
Depreciation and amortization	65,361	53,933	129,205	108,613
Sales and marketing	27,498	29,868	58,398	56,796
Maintenance and repairs	30,730	33,634	61,008	60,076
Aircraft lease rentals	5,749	5,975	11,734	13,067
Other	34,134	31,683	81,105	62,328
Special charges, net of recoveries	18,114	(11,208)	31,212	(12,820)
Total operating expenses	631,386	550,381	1,272,344	1,105,244
OPERATING INCOME	34,897	133,429	50,344	228,253
OTHER (INCOME) EXPENSES:
Interest expense	39,544	37,765	79,704	73,473
Capitalized interest	(11,609)	(8,881)	(22,794)	(14,061)
Interest income	(11,130)	(11,845)	(23,371)	(21,974)
Other, net	67	45	117	52
Total other expenses	16,872	17,084	33,656	37,490
INCOME BEFORE INCOME TAXES	18,025	116,345	16,688	190,763
INCOME TAX PROVISION	4,326	27,876	3,908	46,145
NET INCOME	$ 13,699	$ 88,469	$ 12,780	$ 144,618
Earnings per share to common shareholders:
Basic (in dollars per share)	$ 0.75	$ 4.80	$ 0.69	$ 7.85
Diluted (in dollars per share)	$ 0.75	$ 4.80	$ 0.68	$ 7.84
Shares used for computation:
Basic (in shares)	17,828	17,677	17,746	17,840
Diluted (in shares)	17,869	17,683	17,836	17,861
Cash dividends declared per share (in dollars per share)	$ 0.60	$ 0	$ 1.20	$ 0

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 13,699	$ 88,469	$ 12,780	$ 144,618
Other comprehensive income:
Change in available for sale securities, net of tax	(254)	(603)	(1,462)	1,383
TOTAL COMPREHENSIVE INCOME	$ 13,445	$ 87,866	$ 11,318	$ 146,001

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	AOCI Attributable to Parent	Retained Earnings	Treasury shares	Parent
Beginning balance (in shares) at Dec. 31, 2022		18,128
Par value, beginning balance at Dec. 31, 2022		$ 25
Beginning balance at Dec. 31, 2022	$ 1,220,698		$ 709,471	$ 1,257	$ 1,169,968	$ (660,023)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		438
Share-based compensation		$ 1	18,063				$ 18,064
Shares repurchased by the Company and held as treasury shares (in shares)		(157)
Shares repurchased by the Company and held as treasury shares						(15,433)	(15,433)
Stock issued under employee stock purchase plan (in shares)		41
Stock issued under employee stock purchase plan						4,232	4,232
Other comprehensive income (loss)				1,382			1,382
Net income					144,618		144,618
Ending balance (in shares) at Jun. 30, 2023		18,450
Par value, ending balance at Jun. 30, 2023		$ 26
Ending balance at Jun. 30, 2023	1,373,561		727,534	2,639	1,314,586	(671,224)
Beginning balance (in shares) at Mar. 31, 2023		17,998
Par value, beginning balance at Mar. 31, 2023		$ 25
Beginning balance at Mar. 31, 2023	1,271,397		714,506	3,242	1,226,117	(672,493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		443
Share-based compensation		$ 1	13,028				13,029
Shares repurchased by the Company and held as treasury shares (in shares)		(32)
Shares repurchased by the Company and held as treasury shares						(2,963)	(2,963)
Stock issued under employee stock purchase plan (in shares)		41
Stock issued under employee stock purchase plan						4,232	4,232
Other comprehensive income (loss)				(603)			(603)
Net income					88,469		88,469
Ending balance (in shares) at Jun. 30, 2023		18,450
Par value, ending balance at Jun. 30, 2023		$ 26
Ending balance at Jun. 30, 2023	1,373,561		727,534	2,639	1,314,586	(671,224)
Beginning balance (in shares) at Dec. 31, 2023		18,269
Par value, beginning balance at Dec. 31, 2023	26	$ 26
Beginning balance at Dec. 31, 2023	1,328,560		741,055	3,991	1,265,420	(681,932)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		5
Share-based compensation			13,200				13,200
Shares repurchased by the Company and held as treasury shares (in shares)		(46)
Shares repurchased by the Company and held as treasury shares						(3,023)	(3,023)
Stock issued under employee stock purchase plan (in shares)		90
Stock issued under employee stock purchase plan						4,914	4,914
Cash dividends					(21,934)		(21,934)
Other comprehensive income (loss)				(1,462)			(1,462)
Net income					12,780		12,780
Ending balance (in shares) at Jun. 30, 2024		18,318
Par value, ending balance at Jun. 30, 2024	26	$ 26
Ending balance at Jun. 30, 2024	1,333,035		754,255	2,529	1,256,266	(680,041)
Beginning balance (in shares) at Mar. 31, 2024		18,282
Par value, beginning balance at Mar. 31, 2024		$ 26
Beginning balance at Mar. 31, 2024	1,322,156		747,873	2,783	1,253,549	(682,075)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		(10)
Share-based compensation			6,382				6,382
Shares repurchased by the Company and held as treasury shares (in shares)		(44)
Shares repurchased by the Company and held as treasury shares						(2,880)	(2,880)
Stock issued under employee stock purchase plan (in shares)		90
Stock issued under employee stock purchase plan						4,914	4,914
Cash dividends					(10,982)		(10,982)
Other comprehensive income (loss)				(254)			(254)
Net income					13,699		$ 13,699
Ending balance (in shares) at Jun. 30, 2024		18,318
Par value, ending balance at Jun. 30, 2024	26	$ 26
Ending balance at Jun. 30, 2024	$ 1,333,035		$ 754,255	$ 2,529	$ 1,256,266	$ (680,041)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.60	$ 1.20

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
NET INCOME	$ 12,780	$ 144,618
Depreciation and amortization	129,205	108,613
Special charges, net of recoveries	20,093	(13,153)
Other adjustments	606	35,991
Air traffic liability	36,468	31,672
Other - net	37,585	38,871
Net cash provided by operating activities	236,737	346,612
Cash flows from investing activities:
Purchase of investment securities	(351,939)	(596,669)
Proceeds from maturities of investment securities	451,573	503,069
Aircraft pre-delivery deposits	(35,053)	(157,355)
Purchase of property and equipment	(193,764)	(282,920)
Other investing activities	19,431	16,066
Net cash used in investing activities	(109,752)	(517,809)
Cash flows from financing activities:
Cash dividends paid to shareholders	(21,934)	0
Proceeds from the issuance of debt and finance lease obligations	18,755	208,163
Repurchase of common stock	(3,023)	(15,434)
Principal payments on debt and finance lease obligations	(63,223)	(149,369)
Debt issuance costs	0	(1,422)
Sunseeker construction financing disbursements	10,079	48,200
Other financing activities	4,914	4,233
Net cash provided by/(used in) financing activities	(54,432)	94,371
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	72,553	(76,826)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD	159,584	245,446
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	232,137	168,620
CASH PAYMENTS FOR:
Interest paid, net of amount capitalized	53,807	68,347
Income tax payments	155	623
SUPPLEMENTAL DISCLOSURE OF NONCASH TRANSACTIONS:
Right-of-use (ROU) assets acquired	1,379	8,320
Purchases of property and equipment in accrued liabilities	$ 22,116	$ 61,922

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
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. The Company's investments in unconsolidated affiliates, which are 50 percent or less owned, are accounted for under the equity or cost method, and are insignificant to the consolidated financial statements. 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 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, 2023 and 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 Company has reclassified certain prior period amounts to conform to the current period presentation.

Special Charges

Special Charges	6 Months Ended
	Jun. 30, 2024
Unusual or Infrequent Items, or Both [Abstract]
Special Charges	Special Charges Sunseeker Resort As a result of Hurricane Ian's direct hit on the southwest coast of Florida on September 28, 2022, the construction site of Sunseeker Resort at Charlotte Harbor (the "Resort" or "Sunseeker Resort") was damaged. There was a subsequent weather-related event and a fire that caused additional damage in fourth quarter 2022. In addition, during third quarter 2023, the Sunseeker Resort construction site sustained additional damages related to Hurricane Idalia. The Company recorded estimated losses in 2022 and 2023 based on its assessment of these damages and the anticipated future restoration cost. The estimated losses were recorded to special charges and are offset by insurance recoveries in the period they are approved. To date, the Company has recorded $78.3 million in losses and $54.5 million in insurance recoveries. The Company has submitted additional insurance claims that remain outstanding at the date of this report. Airline Due to the heavy maintenance needs on certain aging Airbus airframes and capacity constraints at the maintenance, repair, and overhaul contractors, the Company reevaluated its fleet plan and identified 21 airframes for early retirement to coincide with 737 MAX aircraft deliveries as scheduled under an amendment to the Company's agreement with The Boeing Company signed in September 2023. Two airframes were retired in 2023 and two airframes were retired in first quarter 2024. The remaining airframes are to be retired between August 2024 and December 2026. The accelerated depreciation on these airframes resulting from a change in the estimated useful life is recorded as a special charge. In April 2024, the Company and the Transport Workers Union of America, representing the Company's flight attendants, ratified a new five-year collective bargaining agreement. The ratification bonus related to this new collective bargaining agreement, paid in May 2024, is included within special charges. Special Charges The table below summarizes special charges recorded during the three and six months ended June 30, 2024, and 2023. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Sunseeker weather and related events, net of insurance recoveries (1,958) (11,208) (3,775) (12,834) Accelerated depreciation on airframes identified for early retirement 9,251 — 24,166 14 Flight attendant ratification bonus (1) 10,821 — 10,821 — Total special charges $ 18,114 $ (11,208) $ 31,212 $ (12,820) (1)

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Passenger Revenue Passenger revenue is the most significant category in the Company's reported operating revenues, as outlined below: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Scheduled service $ 272,715 $ 319,338 $ 562,594 $ 631,065 Ancillary air-related charges 307,390 309,735 582,183 593,637 Loyalty redemptions 14,394 13,674 29,657 27,321 Total passenger revenue $ 594,499 $ 642,747 $ 1,174,434 $ 1,252,023 Sales of passenger tickets not yet flown are recorded in air traffic liability. Passenger revenue is recognized when the underlying service is provided. As of June 30, 2024, the air traffic liability balance was $390.0 million, of which approximately $341.6 million was related to forward bookings, with the remaining $48.4 million related to credit vouchers for future travel. The normal contract term of passenger tickets is 12 months and passenger revenue associated with future travel will principally be recognized within this time frame. Of the $353.5 million that was recorded in the air traffic liability balance as of December 31, 2023, approximately 86.1 percent was recognized into passenger revenue during the six months ended June 30, 2024. The Company periodically evaluates the estimated amount of credit vouchers expected to expire unused and any adjustment is removed from air traffic liability and included in passenger revenue in the period in which the evaluation is complete. Resort Revenue The Company's resort revenues for the three and six months ended June 30, 2024 are set forth in the table below: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Food and beverage $ 7,643 $ — $ 18,415 $ — Rooms 6,653 — 16,610 — Other 2,515 — 5,673 — Total resort revenue $ 16,811 $ — $ 40,698 $ — Revenue from banquets, golf, retail and spa services are included in other resort revenue. Resort revenue is recognized as the underlying services or goods have been provided. There is typically little to no lag between when the services are performed and when payment is remitted. Large group reservations, conventions, and other event bookings require advance deposits which are recorded as accrued liabilities in the Company's balance sheet until the related services and goods are provided. Guest receivables are recorded in accounts receivable on the Company's balance sheet for room nights stayed prior to payment at checkout. The amounts of advance deposit liabilities and guest ledger receivables were not material as of June 30, 2024 or December 31, 2023. Loyalty redemptions In relation to the travel component of the Allways Rewards® co-brand credit card contract, the Company has a performance obligation to provide point holders with future travel award redemptions at the airline and resort. Therefore, consideration received related to the travel component is deferred based on its relative selling price and is recognized into passenger revenue or resort revenue when the points are redeemed and the underlying service is provided. Similarly, in relation to the Allways Rewards loyalty program, points earned through the program are deferred based on the stand-alone selling price and recognized into passenger or resort revenue when the points are redeemed and the underlying service is provided. The following table presents the activity of the point liability for the periods indicated: Six Months Ended June 30, (in thousands) 2024 2023 Points balance at January 1 $ 70,813 $ 56,500 Points awarded (deferral of revenue) 33,272 35,666 Points redeemed (recognition of revenue) (29,674) (27,321) Points balance at June 30 $ 74,411 $ 64,845

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The following table summarizes the Company's property and equipment as of the dates indicated: (in thousands) June 30, 2024 December 31, 2023 Airline Flight equipment $ 3,427,334 $ 3,346,216 Computer hardware and software 306,424 274,927 Land and buildings/leasehold improvements 64,490 63,863 Other property and equipment 112,889 109,727 Sunseeker Resort Land and buildings/leasehold improvements 573,102 559,112 Other property and equipment 62,185 58,132 Total property and equipment 4,546,424 4,411,977 Less accumulated depreciation and amortization (1,053,028) (964,866) Property and equipment, net $ 3,493,396 $ 3,447,111 As of June 30, 2024, the Company had firm commitments to purchase 50 aircraft which are expected to begin delivering in 2024. Accrued capital expenditures as of June 30, 2024 and December 31, 2023 were $22.1 million and $71.7 million, respectively.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table summarizes the Company's long-term debt and finance lease obligations, net of related costs, as of the dates indicated: (in thousands) June 30, 2024 December 31, 2023 Fixed-rate debt and finance lease obligations due through 2032 $ 1,787,240 $ 1,834,754 Variable-rate debt due through 2036 431,649 424,900 Total long-term debt and finance lease obligations, net of related costs 2,218,889 2,259,654 Less current maturities, net of related costs 485,641 439,937 Long-term debt and finance lease obligations, net of current maturities and related costs $ 1,733,248 $ 1,819,717 Weighted average fixed-interest rate on debt 6.3% 6.3% Weighted average variable-interest rate on debt 7.9% 7.9% Interest Rate(s) Per Annum at Balance as of (dollars in thousands) Maturity Dates June 30, 2024 June 30, 2024 December 31, 2023 Senior secured notes 2027 7.25% $ 550,000 $ 550,000 Consolidated variable interest entities 2024 - 2029 2.92% - 5.19% 122,836 130,650 Revolving credit facilities 2024 - 2027 7.93% 200,000 200,000 Debt secured by aircraft, engines, other equipment and real estate 2025 - 2036 1.87% - 8.25% 572,114 596,271 Finance leases 2028 - 2032 4.44% - 7.01% 442,752 455,248 Sunseeker construction loan 2028 5.75% 350,000 350,000 Total debt $ 2,237,702 $ 2,282,169 Related costs (18,813) (22,515) Total debt net of related costs $ 2,218,889 $ 2,259,654 Maturities of long term debt as of June 30, 2024, for the next five years and thereafter, in the aggregate, are: (in thousands) As of June 30, 2024 Remaining in 2024 $ 267,196 2025 312,629 2026 176,155 2027 709,358 2028 328,573 2029 142,535 Thereafter 282,443 Total debt and finance lease obligations, net of related costs $ 2,218,889 Debt Secured by Aircraft During the six months ended June 30, 2024, the Company received $18.8 million in advances on a pre-delivery payment (PDP) credit facility secured by certain of the Company's Boeing aircraft purchase rights. The notes under the facility bear interest at a floating interest rate based on SOFR and mature on June 30, 2025 or upon delivery of the applicable aircraft. Other Secured Debt

Income Taxes (Notes)

Income Taxes (Notes)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded a $4.3 million income tax expense at a 24.0 percent effective tax rate and a $27.9 million income tax expense at a 24.0 percent effective tax rate for the three months ended June 30, 2024 and 2023, respectively. The effective tax rate for the three months ended June 30, 2024 differed from the statutory federal income tax rate of 21.0 percent primarily due to state income taxes, permanent tax differences, and discrete items, none of which are individually significant. The Company recorded a $3.9 million income tax expense at an effective tax rate of 23.4 percent and a $46.1 million income tax expense at a 24.2 percent effective tax rate for the six months ended June 30, 2024 and 2023, respectively. The effective tax rate for the six months ended June 30, 2024 differed from the statutory Federal income tax rate of 21.0 percent primarily due to state income taxes and the impact of permanent tax differences, none of which are individually significant. During the six months ended June 30, 2024, the Company recognized a $0.6 million income tax expense for discrete items. While the Company expects its effective tax rate to be fairly consistent in the near term, it will vary depending on recurring items such as the amount of income earned in each state and the state tax rate applicable to such income. Discrete items during interim periods may also affect the Company's tax rates.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company utilizes the market approach to measure the fair value of its financial assets. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets. The assets classified as Level 2 primarily utilize quoted market prices or alternative pricing sources including transactions involving identical or comparable assets and models utilizing market observable inputs for valuation of these securities. No changes in valuation techniques or inputs occurred during the six months ended June 30, 2024. Financial instruments measured at fair value on a recurring basis: As of June 30, 2024 As of December 31, 2023 (in thousands) Total Level 1 Level 2 Total Level 1 Level 2 Cash equivalents Commercial paper $ 57,771 $ — $ 57,771 $ 19,575 $ — $ 19,575 Money market funds 53,985 53,985 — 33,613 33,613 — Municipal debt securities 24,760 — 24,760 7,848 — 7,848 US Treasury bonds 7,970 — 7,970 2,000 — 2,000 Federal agency debt securities 7,131 — 7,131 8,201 — 8,201 Total cash equivalents 151,617 53,985 97,632 71,237 33,613 37,624 Short-term Corporate debt securities 260,168 — 260,168 210,982 — 210,982 Commercial paper 183,569 — 183,569 237,870 — 237,870 Federal agency debt securities 103,562 — 103,562 194,522 — 194,522 Municipal debt securities 21,624 — 21,624 13,914 — 13,914 Certificates of deposit 7,105 — 7,105 — — — US Treasury Bonds 87 — 87 14,126 — 14,126 Total short-term 576,115 — 576,115 671,414 — 671,414 Long-term Corporate debt securities 54,163 — 54,163 43,869 — 43,869 Federal agency debt securities 4,991 — 4,991 12,135 — 12,135 Total long-term 59,154 — 59,154 56,004 — 56,004 Total financial instruments $ 786,886 $ 53,985 $ 732,901 $ 798,655 $ 33,613 $ 765,042 None of the Company's debt is publicly held and as a result, the Company has determined the estimated fair value of these notes as Level 3 liabilities. Certain inputs used to determine fair value 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. The carrying value and estimated fair value of long-term debt, excluding finance leases, including current maturities and without reduction for related costs, are as follows: As of June 30, 2024 As of December 31, 2023 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Hierarchy Level Fair Value of Notes Payable $ 1,794,950 $ 1,713,681 $ 1,826,921 $ 1,815,351 3 Due to their short-term nature, the carrying amounts of cash, restricted cash, accounts receivable and accounts payable approximate fair value.

Earnings (Loss) per Share

Earnings (Loss) per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) 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. The following table sets forth the computation of net income per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic: Net income $ 13,699 $ 88,469 $ 12,780 $ 144,618 Less income allocated to participating securities (333) (3,660) (618) (4,663) Net income attributable to common stock $ 13,366 $ 84,809 $ 12,162 $ 139,955 Earnings per share, basic $ 0.75 $ 4.80 $ 0.69 $ 7.85 Weighted-average shares outstanding 17,828 17,677 17,746 17,840 Diluted: Net income $ 13,699 $ 88,469 $ 12,780 $ 144,618 Less income allocated to participating securities (333) (3,659) (618) (4,657) Net income attributable to common stock $ 13,366 $ 84,810 $ 12,162 $ 139,961 Earnings per share, diluted $ 0.75 $ 4.80 $ 0.68 $ 7.84 Weighted-average shares outstanding 17,828 17,677 17,746 17,840 Dilutive effect of restricted stock 78 211 195 168 Adjusted weighted-average shares outstanding under treasury stock method 17,906 17,888 17,941 18,008 Participating securities excluded under two-class method (37) (205) (105) (147) Adjusted weighted-average shares outstanding under two-class method 17,869 17,683 17,836 17,861

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	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 potential and pending legal or administrative matters will not have a material adverse impact on its financial position, liquidity or results of operations.

Segments

Segments	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segments	Segments Operating segments are components of a company for which separate financial and operating information is regularly evaluated and reported to the Chief Operating Decision Maker ("CODM"), and is used to allocate resources and analyze performance. The Company's CODM is the executive leadership team, which reviews information about the Company's two operating segments: Airline and Sunseeker Resort. Airline Segment The Airline segment operates as a single business unit and includes all scheduled service air transportation, ancillary air-related products and services, third party products and services, fixed fee contract air transportation and other airline-related revenue. The CODM evaluation includes, but is not limited to, route and flight profitability data, ancillary and third party product and service offering statistics, and fixed fee contract information when making resource allocation decisions with the goal of optimizing consolidated financial results. Sunseeker Resort Segment The Sunseeker Resort segment operates as a single business unit and includes hotel rooms and suites for occupancy, group meeting facilities, food and beverage options, the Aileron Golf Course and other Resort amenities. The CODM evaluation includes, but is not limited to, demand for hospitality offerings, occupancy rates, room pricing, food and beverage offerings, other charge points at the Resort and competitive information when making resource allocation decisions with the goal of optimizing consolidated financial results. Selected information for the Company's segments and the reconciliation to the consolidated financial statement amounts are as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Airline Sunseeker Consolidated Airline Sunseeker Consolidated OPERATING REVENUES: Passenger $ 594,499 $ — $ 594,499 $ 642,747 $ — $ 642,747 Third party products 37,102 — 37,102 28,904 — 28,904 Fixed fee contracts 17,699 — 17,699 11,741 — 11,741 Resort and other 172 16,811 16,983 418 — 418 Total operating revenues 649,472 16,811 666,283 683,810 — 683,810 OPERATING EXPENSES: Salaries and benefits 197,417 12,525 209,942 174,967 2,203 177,170 Aircraft fuel 170,060 — 170,060 162,611 — 162,611 Station operations 69,798 — 69,798 66,715 — 66,715 Depreciation and amortization 59,345 6,016 65,361 53,843 90 53,933 Maintenance and repairs 30,730 — 30,730 33,634 — 33,634 Sales and marketing 25,918 1,580 27,498 29,518 350 29,868 Aircraft lease rentals 5,749 — 5,749 5,975 — 5,975 Other 23,426 10,708 34,134 29,039 2,644 31,683 Special charges, net of recoveries 20,073 (1,959) 18,114 — (11,208) (11,208) Total operating expenses 602,516 28,870 631,386 556,302 (5,921) 550,381 OPERATING INCOME (LOSS) 46,956 (12,059) 34,897 127,508 5,921 133,429 Interest income (11,130) — (11,130) (11,845) — (11,845) Interest expense 34,121 5,423 39,544 32,339 5,426 37,765 Capitalized interest (11,609) — (11,609) (3,409) (5,472) (8,881) Capital expenditures 39,044 4,039 43,083 176,023 97,019 273,042 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Airline Sunseeker Consolidated Airline Sunseeker Consolidated OPERATING REVENUES: Passenger $ 1,174,434 $ — $ 1,174,434 $ 1,252,023 $ — $ 1,252,023 Third party products 70,501 — 70,501 54,942 — 54,942 Fixed fee contracts 36,560 — 36,560 25,858 — 25,858 Resort and other 495 40,698 41,193 674 — 674 Total operating revenues 1,281,990 40,698 1,322,688 1,333,497 — 1,333,497 OPERATING EXPENSES: Salaries and benefits 396,926 26,343 423,269 332,488 4,305 336,793 Aircraft fuel 340,147 — 340,147 352,157 — 352,157 Station operations 136,266 — 136,266 128,234 — 128,234 Depreciation and amortization 117,212 11,993 129,205 108,465 148 108,613 Maintenance and repairs 61,008 — 61,008 60,076 — 60,076 Sales and marketing 54,796 3,602 58,398 56,158 638 56,796 Aircraft lease rentals 11,734 — 11,734 13,067 — 13,067 Other 57,742 23,363 81,105 57,752 4,576 62,328 Special charges, net of recoveries 34,987 (3,775) 31,212 14 (12,834) (12,820) Total operating expenses 1,210,818 61,526 1,272,344 1,108,411 (3,167) 1,105,244 OPERATING INCOME (LOSS) 71,172 (20,828) 50,344 225,086 3,167 228,253 Interest income (23,371) — (23,371) (21,974) — (21,974) Interest expense 68,858 10,846 79,704 62,682 10,791 73,473 Capitalized interest (22,468) (326) (22,794) (4,919) (9,142) (14,061) Capital expenditures 161,219 18,043 179,262 268,627 182,639 451,266 Total assets were as follows as of the dates indicated: (in thousands) As of June 30, 2024 As of December 31, 2023 Airline $ 4,250,797 $ 4,213,288 Sunseeker Resort 652,815 656,122 Consolidated $ 4,903,612 $ 4,869,410

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
NET INCOME	$ 13,699	$ 88,469	$ 12,780	$ 144,618

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Keny Wilper [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 20, 2024, Keny Wilper, our senior vice president and chief operating officer, adopted a Rule 10b5-1 trading plan for the sale of securities of the Company intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The trading plan will terminate in August 2025. Under the trading plan, Mr. Wilper will sell 50% of the number of shares remaining after netting for tax withholdings from restricted stock that will vest between August 2024 and August 2025. The total number of shares to vest within that period is 5,329 shares.
Name	Keny Wilper
Title	senior vice president and chief operating officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 20, 2024
Arrangement Duration	395 days
Aggregate Available	5,329	5,329

Summary of Significant Accoun_2

Summary of Significant Accounting Policies - (Policies)	6 Months Ended
	Jun. 30, 2024
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. The Company's investments in unconsolidated affiliates, which are 50 percent or less owned, are accounted for under the equity or cost method, and are insignificant to the consolidated financial statements. 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 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, 2023 and 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 Company has reclassified certain prior period amounts to conform to the current period presentation.

Special Charges (Tables)

Special Charges (Tables)	6 Months Ended
	Jun. 30, 2024
Unusual or Infrequent Items, or Both [Abstract]
Summary of Special Charges	The table below summarizes special charges recorded during the three and six months ended June 30, 2024, and 2023. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Sunseeker weather and related events, net of insurance recoveries (1,958) (11,208) (3,775) (12,834) Accelerated depreciation on airframes identified for early retirement 9,251 — 24,166 14 Flight attendant ratification bonus (1) 10,821 — 10,821 — Total special charges $ 18,114 $ (11,208) $ 31,212 $ (12,820) (1)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue Recognition [Abstract]
Disaggregation of Revenue	Passenger revenue is the most significant category in the Company's reported operating revenues, as outlined below: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Scheduled service $ 272,715 $ 319,338 $ 562,594 $ 631,065 Ancillary air-related charges 307,390 309,735 582,183 593,637 Loyalty redemptions 14,394 13,674 29,657 27,321 Total passenger revenue $ 594,499 $ 642,747 $ 1,174,434 $ 1,252,023 The Company's resort revenues for the three and six months ended June 30, 2024 are set forth in the table below: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Food and beverage $ 7,643 $ — $ 18,415 $ — Rooms 6,653 — 16,610 — Other 2,515 — 5,673 — Total resort revenue $ 16,811 $ — $ 40,698 $ —
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following table presents the activity of the point liability for the periods indicated: Six Months Ended June 30, (in thousands) 2024 2023 Points balance at January 1 $ 70,813 $ 56,500 Points awarded (deferral of revenue) 33,272 35,666 Points redeemed (recognition of revenue) (29,674) (27,321) Points balance at June 30 $ 74,411 $ 64,845

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The following table summarizes the Company's property and equipment as of the dates indicated: (in thousands) June 30, 2024 December 31, 2023 Airline Flight equipment $ 3,427,334 $ 3,346,216 Computer hardware and software 306,424 274,927 Land and buildings/leasehold improvements 64,490 63,863 Other property and equipment 112,889 109,727 Sunseeker Resort Land and buildings/leasehold improvements 573,102 559,112 Other property and equipment 62,185 58,132 Total property and equipment 4,546,424 4,411,977 Less accumulated depreciation and amortization (1,053,028) (964,866) Property and equipment, net $ 3,493,396 $ 3,447,111

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Debt	The following table summarizes the Company's long-term debt and finance lease obligations, net of related costs, as of the dates indicated: (in thousands) June 30, 2024 December 31, 2023 Fixed-rate debt and finance lease obligations due through 2032 $ 1,787,240 $ 1,834,754 Variable-rate debt due through 2036 431,649 424,900 Total long-term debt and finance lease obligations, net of related costs 2,218,889 2,259,654 Less current maturities, net of related costs 485,641 439,937 Long-term debt and finance lease obligations, net of current maturities and related costs $ 1,733,248 $ 1,819,717 Weighted average fixed-interest rate on debt 6.3% 6.3% Weighted average variable-interest rate on debt 7.9% 7.9% Interest Rate(s) Per Annum at Balance as of (dollars in thousands) Maturity Dates June 30, 2024 June 30, 2024 December 31, 2023 Senior secured notes 2027 7.25% $ 550,000 $ 550,000 Consolidated variable interest entities 2024 - 2029 2.92% - 5.19% 122,836 130,650 Revolving credit facilities 2024 - 2027 7.93% 200,000 200,000 Debt secured by aircraft, engines, other equipment and real estate 2025 - 2036 1.87% - 8.25% 572,114 596,271 Finance leases 2028 - 2032 4.44% - 7.01% 442,752 455,248 Sunseeker construction loan 2028 5.75% 350,000 350,000 Total debt $ 2,237,702 $ 2,282,169 Related costs (18,813) (22,515) Total debt net of related costs $ 2,218,889 $ 2,259,654
Schedule of Maturities of Long-Term Debt	Maturities of long term debt as of June 30, 2024, for the next five years and thereafter, in the aggregate, are: (in thousands) As of June 30, 2024 Remaining in 2024 $ 267,196 2025 312,629 2026 176,155 2027 709,358 2028 328,573 2029 142,535 Thereafter 282,443 Total debt and finance lease obligations, net of related costs $ 2,218,889

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value On a Recurring Basis	Financial instruments measured at fair value on a recurring basis: As of June 30, 2024 As of December 31, 2023 (in thousands) Total Level 1 Level 2 Total Level 1 Level 2 Cash equivalents Commercial paper $ 57,771 $ — $ 57,771 $ 19,575 $ — $ 19,575 Money market funds 53,985 53,985 — 33,613 33,613 — Municipal debt securities 24,760 — 24,760 7,848 — 7,848 US Treasury bonds 7,970 — 7,970 2,000 — 2,000 Federal agency debt securities 7,131 — 7,131 8,201 — 8,201 Total cash equivalents 151,617 53,985 97,632 71,237 33,613 37,624 Short-term Corporate debt securities 260,168 — 260,168 210,982 — 210,982 Commercial paper 183,569 — 183,569 237,870 — 237,870 Federal agency debt securities 103,562 — 103,562 194,522 — 194,522 Municipal debt securities 21,624 — 21,624 13,914 — 13,914 Certificates of deposit 7,105 — 7,105 — — — US Treasury Bonds 87 — 87 14,126 — 14,126 Total short-term 576,115 — 576,115 671,414 — 671,414 Long-term Corporate debt securities 54,163 — 54,163 43,869 — 43,869 Federal agency debt securities 4,991 — 4,991 12,135 — 12,135 Total long-term 59,154 — 59,154 56,004 — 56,004 Total financial instruments $ 786,886 $ 53,985 $ 732,901 $ 798,655 $ 33,613 $ 765,042
Fair Value, Liabilities Measured on Recurring Basis	The carrying value and estimated fair value of long-term debt, excluding finance leases, including current maturities and without reduction for related costs, are as follows: As of June 30, 2024 As of December 31, 2023 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Hierarchy Level Fair Value of Notes Payable $ 1,794,950 $ 1,713,681 $ 1,826,921 $ 1,815,351 3

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2024
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 count and dollar amounts other than per-share amounts in the table are in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic: Net income $ 13,699 $ 88,469 $ 12,780 $ 144,618 Less income allocated to participating securities (333) (3,660) (618) (4,663) Net income attributable to common stock $ 13,366 $ 84,809 $ 12,162 $ 139,955 Earnings per share, basic $ 0.75 $ 4.80 $ 0.69 $ 7.85 Weighted-average shares outstanding 17,828 17,677 17,746 17,840 Diluted: Net income $ 13,699 $ 88,469 $ 12,780 $ 144,618 Less income allocated to participating securities (333) (3,659) (618) (4,657) Net income attributable to common stock $ 13,366 $ 84,810 $ 12,162 $ 139,961 Earnings per share, diluted $ 0.75 $ 4.80 $ 0.68 $ 7.84 Weighted-average shares outstanding 17,828 17,677 17,746 17,840 Dilutive effect of restricted stock 78 211 195 168 Adjusted weighted-average shares outstanding under treasury stock method 17,906 17,888 17,941 18,008 Participating securities excluded under two-class method (37) (205) (105) (147) Adjusted weighted-average shares outstanding under two-class method 17,869 17,683 17,836 17,861

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Selected information for the Company's segments and the reconciliation to the consolidated financial statement amounts are as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Airline Sunseeker Consolidated Airline Sunseeker Consolidated OPERATING REVENUES: Passenger $ 594,499 $ — $ 594,499 $ 642,747 $ — $ 642,747 Third party products 37,102 — 37,102 28,904 — 28,904 Fixed fee contracts 17,699 — 17,699 11,741 — 11,741 Resort and other 172 16,811 16,983 418 — 418 Total operating revenues 649,472 16,811 666,283 683,810 — 683,810 OPERATING EXPENSES: Salaries and benefits 197,417 12,525 209,942 174,967 2,203 177,170 Aircraft fuel 170,060 — 170,060 162,611 — 162,611 Station operations 69,798 — 69,798 66,715 — 66,715 Depreciation and amortization 59,345 6,016 65,361 53,843 90 53,933 Maintenance and repairs 30,730 — 30,730 33,634 — 33,634 Sales and marketing 25,918 1,580 27,498 29,518 350 29,868 Aircraft lease rentals 5,749 — 5,749 5,975 — 5,975 Other 23,426 10,708 34,134 29,039 2,644 31,683 Special charges, net of recoveries 20,073 (1,959) 18,114 — (11,208) (11,208) Total operating expenses 602,516 28,870 631,386 556,302 (5,921) 550,381 OPERATING INCOME (LOSS) 46,956 (12,059) 34,897 127,508 5,921 133,429 Interest income (11,130) — (11,130) (11,845) — (11,845) Interest expense 34,121 5,423 39,544 32,339 5,426 37,765 Capitalized interest (11,609) — (11,609) (3,409) (5,472) (8,881) Capital expenditures 39,044 4,039 43,083 176,023 97,019 273,042 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Airline Sunseeker Consolidated Airline Sunseeker Consolidated OPERATING REVENUES: Passenger $ 1,174,434 $ — $ 1,174,434 $ 1,252,023 $ — $ 1,252,023 Third party products 70,501 — 70,501 54,942 — 54,942 Fixed fee contracts 36,560 — 36,560 25,858 — 25,858 Resort and other 495 40,698 41,193 674 — 674 Total operating revenues 1,281,990 40,698 1,322,688 1,333,497 — 1,333,497 OPERATING EXPENSES: Salaries and benefits 396,926 26,343 423,269 332,488 4,305 336,793 Aircraft fuel 340,147 — 340,147 352,157 — 352,157 Station operations 136,266 — 136,266 128,234 — 128,234 Depreciation and amortization 117,212 11,993 129,205 108,465 148 108,613 Maintenance and repairs 61,008 — 61,008 60,076 — 60,076 Sales and marketing 54,796 3,602 58,398 56,158 638 56,796 Aircraft lease rentals 11,734 — 11,734 13,067 — 13,067 Other 57,742 23,363 81,105 57,752 4,576 62,328 Special charges, net of recoveries 34,987 (3,775) 31,212 14 (12,834) (12,820) Total operating expenses 1,210,818 61,526 1,272,344 1,108,411 (3,167) 1,105,244 OPERATING INCOME (LOSS) 71,172 (20,828) 50,344 225,086 3,167 228,253 Interest income (23,371) — (23,371) (21,974) — (21,974) Interest expense 68,858 10,846 79,704 62,682 10,791 73,473 Capitalized interest (22,468) (326) (22,794) (4,919) (9,142) (14,061) Capital expenditures 161,219 18,043 179,262 268,627 182,639 451,266 Total assets were as follows as of the dates indicated: (in thousands) As of June 30, 2024 As of December 31, 2023 Airline $ 4,250,797 $ 4,213,288 Sunseeker Resort 652,815 656,122 Consolidated $ 4,903,612 $ 4,869,410

Special Charges - Narrative (De

Special Charges - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2023 Aircraft	Mar. 31, 2024 Aircraft	Jun. 30, 2024 USD ($)	Dec. 31, 2023 Aircraft
Unusual or Infrequent Item, or Both [Line Items]
Number of aircraft retired | Aircraft	21	2		2
Hurricane Ian
Unusual or Infrequent Item, or Both [Line Items]
Unusual or infrequent item, or both, loss, gross			$ 78.3
Unusual or infrequent item, or both, insurance proceeds			$ 54.5

Special Charges - Summary of Sp

Special Charges - Summary of Special Charges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Unusual or Infrequent Items, or Both [Abstract]
Sunseeker weather and related events, net of insurance recoveries	$ 1,958	$ 11,208	$ 3,775	$ 12,834
Accelerated depreciation on airframes identified for early retirement	9,251	0	24,166	14
Flight attendant ratification bonus	10,821	0	10,821	0
Total special charges	18,114	$ (11,208)	31,212	$ (12,820)
Accrued payroll taxes	$ 800		$ 800

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 594,499	$ 642,747	$ 1,174,434	$ 1,252,023
Passenger Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	594,499	642,747
Resort Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,811	0	40,698	0
Scheduled service
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax			562,594	631,065
Scheduled service | Passenger Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	272,715	319,338
Ancillary air-related charges
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax			582,183	593,637
Ancillary air-related charges | Passenger Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	307,390	309,735
Loyalty redemptions
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax			29,657	27,321
Loyalty redemptions | Passenger Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	14,394	13,674
Rooms | Resort Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	6,653	0	16,610	0
Food and beverage | Resort Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	7,643	0	18,415	0
Total resort revenue | Resort Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,515	$ 0	$ 5,673	$ 0

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Revenue Recognition [Abstract]
Contract with Customer, Liability, Current		$ 389,956	$ 353,488
Contract with Customer, Liability, Forward Bookings		34,160,000,000%
Contract with Customer, Liability, Credit Voucher Bookings		4,840,000,000%
Revenue, Performance Obligation, Description of Timing		12 months
Air Traffic Liability, Recognized	$ 353,500
Air Traffic Liability, Revenue Recognition, Percentage		86.10%

Revenue Recognition - Contract

Revenue Recognition - Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue Recognition [Abstract]
Points balance at January 1	$ 70,813	$ 56,500
Points awarded (deferral of revenue)	33,272	35,666
Points redeemed (recognition of revenue)	(29,674)	(27,321)
Points balance at June 30	$ 74,411	$ 64,845

Property and Equipment (Details

Property and Equipment (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) Aircraft	Dec. 31, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 4,546,424	$ 4,411,977
Less accumulated depreciation and amortization	1,053,028	964,866
Property and equipment, net	$ 3,493,396	3,447,111
Number Of Aircraft Committed To Purchase | Aircraft	50
Capital Expenditures Incurred but Not yet Paid	$ 22,100	71,700
Airline
Property, Plant and Equipment [Line Items]
Flight equipment	3,427,334	3,346,216
Computer hardware and software	306,424	274,927
Land and buildings/leasehold improvements	64,490	63,863
Other property and equipment	112,889	109,727
Sunseeker Resort
Property, Plant and Equipment [Line Items]
Land and buildings/leasehold improvements	573,102	559,112
Other property and equipment	$ 62,185	$ 58,132

Long-Term Debt - Components of

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Secured Long-term Debt, Noncurrent	$ 2,218,889	$ 2,259,654
Less current maturities	485,641	439,937
Long-term debt and capital leases, net of current maturities and related costs	1,733,248	1,819,717
Finance Lease, Liability	442,752	455,248
Debt and Lease Obligation	(18,813)	(22,515)
Debt Issuance Costs, Net	$ 2,218,889	2,259,654
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.44%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.01%
Weighted average fixed-interest rate on debt
Debt Instrument [Line Items]
Notes Payable	$ 1,787,240	$ 1,834,754
Long-term Debt, Weighted Average Interest Rate, at Point in Time	6.30%	6.30%
Weighted average variable-interest rate on debt
Debt Instrument [Line Items]
Notes Payable	$ 431,649	$ 424,900
Long-term Debt, Weighted Average Interest Rate, at Point in Time	7.90%	7.90%
Construction Loan Agreement Due 2032
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 350,000	$ 350,000
Debt instrument, interest rate, stated percentage	5.75%
Revolving Credit Facilities Due 2027 | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 200,000	200,000
Debt instrument, interest rate, stated percentage	7.93%
Senior Secured Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 550,000	550,000
Senior Secured Notes Due 2027 | Senior Notes | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.25%
Consolidated Variable Interest Entities Due 2029
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 122,836	130,650
Consolidated Variable Interest Entities Due 2029 | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.92%
Consolidated Variable Interest Entities Due 2029 | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.19%
Secured Debt By Aircraft, Engines, Other Equipment And Real Estate | Secured Debt
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 572,114	596,271
Secured Debt By Aircraft, Engines, Other Equipment And Real Estate | Secured Debt | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	1.87%
Secured Debt By Aircraft, Engines, Other Equipment And Real Estate | Secured Debt | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	8.25%
Long-term Debt [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 2,237,702	$ 2,282,169

Long-Term Debt - Summary of Mat

Long-Term Debt - Summary of Maturities of Long-Term Debt (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Schedule of Maturities of Long-Term Debt [Abstract]
Remaining in 2024	$ 267,196
2025	312,629
2026	176,155
2027	709,358
2028	328,573
2029	142,535
Thereafter	282,443
Total debt and finance lease obligations, net of related costs	$ 2,218,889

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024
Revolving Credit Facility
Debt Instrument [Line Items]
Proceeds from lines of credit		$ 18.8
Line of Credit | Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 218.5
Long-Term Debt, Term	12 years
Line of Credit | Secured Debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Term	3 months

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 4,326	$ 27,876	$ 3,908	$ 46,145
Effective Income Tax Rate Reconciliation, Percent	24%	24%	23.40%	24.20%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%		21%
Income Tax Expense (Benefit), Discrete Items			$ 600

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	$ 786,886	$ 798,655
Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	53,985	33,613
Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	732,901	765,042
Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	151,617	71,237
Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	53,985	33,613
Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	97,632	37,624
Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	576,115	671,414
Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	576,115	671,414
Long Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	59,154	56,004
Long Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Long Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	59,154	56,004
Money market funds | Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	53,985	33,613
Money market funds | Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	53,985	33,613
Money market funds | Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
Commercial paper | Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	57,771	19,575
Commercial paper | Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
Commercial paper | Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	57,771	19,575
Commercial paper | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	183,569	237,870
Commercial paper | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Commercial paper | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	183,569	237,870
Municipal debt securities | Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	24,760	7,848
Municipal debt securities | Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
Municipal debt securities | Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	24,760	7,848
Municipal debt securities | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	21,624	13,914
Municipal debt securities | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Municipal debt securities | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	21,624	13,914
US Treasury Bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	87	14,126
US Treasury Bonds | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
US Treasury Bonds | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	87	14,126
US Treasury Bonds | Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	7,970	2,000
US Treasury Bonds | Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
US Treasury Bonds | Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	7,970	2,000
Corporate debt securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	54,163	43,869
Corporate debt securities | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Corporate debt securities | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	54,163	43,869
Corporate debt securities | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	260,168	210,982
Corporate debt securities | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Corporate debt securities | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	260,168	210,982
Federal agency debt securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	7,131	8,201
Debt Securities, Available-for-Sale	4,991	12,135
Federal agency debt securities | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
Debt Securities, Available-for-Sale	0	0
Federal agency debt securities | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	7,131	8,201
Debt Securities, Available-for-Sale	4,991	12,135
Federal agency debt securities | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	103,562	194,522
Federal agency debt securities | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Federal agency debt securities | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	103,562	194,522
Certificates of Deposit
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	7,105	0
Certificates of Deposit | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Certificates of Deposit | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	$ 7,105	$ 0

Fair Value Measurements Estimat

Fair Value Measurements Estimated Fair Value of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	$ 2,218,889	$ 2,259,654
Non-Publicly Held Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	1,794,950	1,826,921
Non-Publicly Held Debt | Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 1,713,681	$ 1,815,351

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic:
Net income	$ 13,699	$ 88,469	$ 12,780	$ 144,618
Less income allocated to participating securities	(333)	(3,660)	(618)	(4,663)
Net income attributable to common stock	$ 13,366	$ 84,809	$ 12,162	$ 139,955
Net income per share, basic (in dollars per share)	$ 0.75	$ 4.80	$ 0.69	$ 7.85
Weighted-average shares outstanding (in shares)	17,828	17,677	17,746	17,840
Diluted:
Net income	$ 13,699	$ 88,469	$ 12,780	$ 144,618
Less income allocated to participating securities	(333)	(3,659)	(618)	(4,657)
Net income attributable to common stock	$ 13,366	$ 84,810	$ 12,162	$ 139,961
Earnings (loss) per share, diluted (in dollars per share)	$ 0.75	$ 4.80	$ 0.68	$ 7.84
Weighted-average shares outstanding ( in shares)	17,828	17,677	17,746	17,840
Dilutive effect of stock options and restricted stock (in shares)	78	211	195	168
Adjusted weighted-average shares outstanding under treasury stock method (in shares)	17,906	17,888	17,941	18,008
Participating securities excluded under two-class method (in shares)	(37)	(205)	(105)	(147)
Adjusted weighted-average shares outstanding under two-class method (in shares)	17,869	17,683	17,836	17,861

Segments - Narrative (Details)

Segments - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of Operating Segments	2

Segments - Schedule of Segment

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Passenger	$ 594,499	$ 642,747	$ 1,174,434	$ 1,252,023
Third party products	37,102	28,904	70,501	54,942
Fixed fee contracts	17,699	11,741	36,560	25,858
Resort and other	16,983	418	41,193	674
Total operating revenues	666,283	683,810	1,322,688	1,333,497
Salaries and benefits	209,942	177,170	423,269	336,793
Aircraft fuel	170,060	162,611	340,147	352,157
Station operations	69,798	66,715	136,266	128,234
Depreciation and amortization	65,361	53,933	129,205	108,613
Maintenance and repairs	30,730	33,634	61,008	60,076
Sales and marketing	27,498	29,868	58,398	56,796
Aircraft lease rentals	5,749	5,975	11,734	13,067
Other	34,134	31,683	81,105	62,328
Special charges, net of recoveries	18,114	(11,208)	31,212	(12,820)
Total operating expenses	631,386	550,381	1,272,344	1,105,244
OPERATING INCOME	34,897	133,429	50,344	228,253
Interest (income)	(11,130)	(11,845)	(23,371)	(21,974)
Interest expense	39,544	37,765	79,704	73,473
Capitalized interest	(11,609)	(8,881)	(22,794)	(14,061)
Capital expenditures	43,083	273,042	179,262	451,266
Assets	4,903,612		4,903,612		$ 4,869,410
Airline
Segment Reporting Information [Line Items]
Passenger	594,499	642,747	1,174,434	1,252,023
Third party products	37,102	28,904	70,501	54,942
Fixed fee contracts	17,699	11,741	36,560	25,858
Resort and other	172	418	495	674
Total operating revenues	649,472	683,810	1,281,990	1,333,497
Salaries and benefits	197,417	174,967	396,926	332,488
Aircraft fuel	170,060	162,611	340,147	352,157
Station operations	69,798	66,715	136,266	128,234
Depreciation and amortization	59,345	53,843	117,212	108,465
Maintenance and repairs	30,730	33,634	61,008	60,076
Sales and marketing	25,918	29,518	54,796	56,158
Aircraft lease rentals	5,749	5,975	11,734	13,067
Other	23,426	29,039	57,742	57,752
Special charges, net of recoveries	20,073	0	34,987	14
Total operating expenses	602,516	556,302	1,210,818	1,108,411
OPERATING INCOME	46,956	127,508	71,172	225,086
Interest (income)	(11,130)	(11,845)	(23,371)	(21,974)
Interest expense	34,121	32,339	68,858	62,682
Capitalized interest	(11,609)	(3,409)	(22,468)	(4,919)
Capital expenditures	39,044	176,023	161,219	268,627
Assets	4,250,797		4,250,797		4,213,288
Sunseeker Resort
Segment Reporting Information [Line Items]
Passenger	0	0	0	0
Third party products	0	0	0	0
Fixed fee contracts	0	0	0	0
Resort and other	16,811	0	40,698	0
Total operating revenues	16,811	0	40,698	0
Salaries and benefits	12,525	2,203	26,343	4,305
Aircraft fuel	0	0	0	0
Station operations	0	0	0	0
Depreciation and amortization	6,016	90	11,993	148
Maintenance and repairs	0	0	0	0
Sales and marketing	1,580	350	3,602	638
Aircraft lease rentals	0	0	0	0
Other	10,708	2,644	23,363	4,576
Special charges, net of recoveries	(1,959)	(11,208)	(3,775)	(12,834)
Total operating expenses	28,870	(5,921)	61,526	(3,167)
OPERATING INCOME	(12,059)	5,921	(20,828)	3,167
Interest (income)	0	0	0	0
Interest expense	5,423	5,426	10,846	10,791
Capitalized interest	0	(5,472)	(326)	(9,142)
Capital expenditures	4,039	$ 97,019	18,043	$ 182,639
Assets	$ 652,815		$ 652,815		$ 656,122