ALGT - Earnings call transcript Q2 2021 | Allegiant Travel Company

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Operator

Good day and thank you for standing-by. Welcome to the Q2 2021 Allegiant Travel Company Earnings Conference Call. [Operator Instructions] As a reminder this conference is being recorded. I’d now like to hand the conference over to your speaker today, Sherry Wilson. Thank you. ahead. go Please

Sherry Wilson

Welcome XXXX Sati. Allegiant Company’s Travel Thank call. to quarter earnings second you, the

of On and me Redmond, Officer; Chief call Financial Operating and of Greg the Officer; with SVP our Drew Officer; Chief a company’s Gallagher, Anderson, answer and questions. others our EVP Revenue Executive Wells, Chairman Scott the Scott Sheldon, to our Officer; and and DeAngelo, help Marketing John EVP the handful our President; today company’s Planning; Chief are Chief Maury and EVP

assumptions release and as on Maury. ir.allegiantair.com. based Investor the assumptions statements are We publicly turn no that, at factors and a to statements by We the open not more today. on others follow-up. will forward-looking that it our those this risk statements, yourself company’s events and We to the results you well and based reliance materially available risk forward-looking cause implied update or today fully expressed visit our in as as SEC. to start the strategic one filings over call performance With forward-looking events, or do limit To rebroadcast factors company’s to earnings The site These which and be with result ask company on statements, could whether future plan. new of it statements. commentary these Relations may then cautions contain investors with us any the Various to differ the please of materialize. call, from not our and Any concerning are view to I’ll of will questions. obligation forward-looking up question comments information disclosed forward-looking undertake one to underlying The information otherwise. statements place our that future actual undue

Maury Gallagher

as May average our and a factor We an averaged us we numbers us joining XX%. brought quarter only Sherry April XX% excellent quarter the again showed, Thank XX% brought everyone. on good and had up June’s you, this average quarter. QX while Thank afternoon to – load you for in

up days As the we to this from all provide XXXX. we as challenge bumps, We I demand to our and a took to industry our past in and a particular have through for others, was in quarter add, support every than might two XX this shortage partners since operation. on I of one operations dominated comments contractors, TSA, It’s in peak is however, it our operations. June operated spite summer. passengers XXXX. month. this often XX% the airport a our The June proof like this we for our the peaking been departures for is highlights operational which critical had cautious stellar resulted XX.X% been also less This applies years, personnel capacity, for and operational problem rust repeated our including speed Day was back, of have a last these X.X%, against aspects of XX the fuel the suppliers summer were our that August. in peak In and the call remainder off case, grew of usually with for These days given quarter, today Memorial results backdrop the June partners, over In has approximately into This industry. of is year of optimism fact. capacity quarter June our critical from while major mid the and

others as West and its additional on industry footprint. the it’s international moving trend The focused industry COVID But back traffic. there, profit our historic leisure leisure, with has and by extremely competitive this black we’re not COVID led problems the is a our this The focused We business profile. been leisure the almost sector post of bit industry given strong continue of to our operations, has industry to out hole. in the exclusively leading has Wild affected been

approximately exceptional. still fewer We are to maintaining in which XX%, We finished a while and to industry XX% late leading to compared our our transition XXXX. increase compared XXXX XXXX our increased operating XXXX XXXX, in profile Airbus we XX% performance of non-competitive. XXXX had an margin our aircraft was that was We

we two and the we in into growth January was XXXX ASMs firing end all to COVID. that results up to This are cylinders XXXX early where we we off Today during left both all my early of XXXXX. belief, headed and were year, strong on Our at in our as our outsize the were months model of July early positioned continuing – XX%. in before is last XXXX last first now February those onset continue

perform. We’re ability its bullish on model to our to continue and

are results XXXX. the we’ll for thoughts above comments, these on average but we additional suggest end, single to all believe near-term that acquired XXXX good a planning save And on to have airplane. outcome have for we will we a Currently these Our moreover need ideas. aircraft, growth, Greg

COVID on We’ve one-on-one has additional our them. customers. leverage have promising to relationship development want and Another our beginning, on have year, comments just direct we introduced We’ve issue. our will a with few forward Drew efforts. hopeful being third-party was discussed early are and ancillary revenues offering our previously realized. as focus this We revenue particular bundling generating been our last from more to the ancillary benefits fast today

efforts, uptick company’s our strong contribution. car excellent seen a rental revenues, in results as third-party the Regarding we card from credit as well have

with the our recent partnerships space. car shortage benefited one the enterprise rental recall us strongest relationship in rental of leisure The has may pricing is the You cars front. of on

our belief X best Southwest million of have per top very these three PIA, Sunseeker. the in vacation the driving Sunseeker perhaps carried is and markets easy Gorda distance Another Historically year over performing destinations. of part Florida. Sarasota. our people area in located the is we of out of Punta terrific optimistic middle, leisure in country An and

building way growing our were to model, As I on early well mentioned including out in XXXX, Sunseeker. our we

position back the We’re early today of part that XXXX. as we in in were same

associated Given X.X, belief, our the further the will termed this thought will continuing with completing finish contribute plans nicely about have unanimously and Sunseeker the our our Allegiant be restarting what this and will The we of construction we agreed comments recommendation and process and to Board Sunseeker resort. financing. John to strategy.

and last us have balances This balances. from up the and talking cash for been seen threefold our management benefits $X.X plus years growth cash not we’ve early in has dramatically our next a the we our combined positioned with improved PSP in refunds a a thereafter. liquidity offering. from funds to year, tax the XX% only year, we These the aggressive completed increase billion In Lastly, year improved secondary increase May, $XXX our million dramatic cash about balance sheet but ago. has during

backbone days, their Lastly, passengers our team in our They dominated continue COVID past to company, taking difficult safely of destinations. the and during year. the period our members care have John? to be of them this these difficult of getting there particularly been

John Redmond

Maury good afternoon, Thank and everyone. you much, very

to and results. opportunity these have, it First take position who and us this happen team of in foremost, make put I incredible our enviable members thank all to want incredible this we producing

construction Sunseeker of made we stated, resort. decision have finish restart to and Maury the As

balance $XXX XX, a stronger with would had we that earnings collateral stopped, until comment I have XX term Allegiant we sheet, and borrow greater and the I resort referenced as and might since from us You suspend recently sheet. add. ensuring may months that I to comment guarantee, business impacts clarity for recall a months, made non-binding QX We stronger we a stronger, better, we during the cost. construction structure a on since call, May months made I flexibility the and significantly XXXX had pandemic XX best on balance we gives signed the XX the sheet million

XX We expect next have to the completed docs loan to days. XX final within

additional Sunseeker data some for points. Now

start Harbor, the August Florida at and site announce date at on held resort conference Xrd. press opening in will timeframe the Charlotte to We be a

will media it construction to access be relations will announce since of zone. the the get members will that team for to Our as the active opportunity date. to site, the media be press we an This details closer only

to because earnings call. call questions we Sunseeker with be your provide earnings an host on all questions save things all answer We Call next by enough Investor will management for be an Please will to We Xth Call Sunseeker. taking time today’s we the intend August discuss dedicated presentations questions opportunity, any not week. Q&A. during will leave regarding The this Investor to followed format similar will to

unique will it be is underway, Please XX. opening. able necessary and an to For to for public the active to this you contact longer tour, any we make I about is host site to between August Wilson its opportunity be no a happy comment zone. will becomes analysts before tour until site tours available arrangements. interested to host the construction X property Once August taking the in be press, Sherry ready Similar my to the will a construction

August discuss will conference. our opening next We August at and tuned Stay These Xrd and only today X date are week. golf the timeframe comments for press Sunseeker. course as X regarding well renovation the start

EPS should to this any XXXX. the how share. of proceeds fuel the data excess As around from EBITDA helpful million calls, financing. would it assuming directional some with basis of billion, Year-end of net I with I’ve $XXX NOL. gallon around $XXX you margin thought full full a year. the This assumed NOL, receipt $XXX help $X.XX inclusive year points related financing GAAP in any in we around from diluted be not PSP cash not are All of providing at proceeds a any the $X.X again, receipt include things does debt I’m XX%. Sunseeker assuming data million again, the on understand earnings for past see and $XXX does provide balance Fully done related million Sunseeker. to to million points include a exceed $XX for Year-end

the airline guidance is the does As a provided point include clarification, and estimates any release for only capital Sunseeker. of not expenditure in

So provide DeAngelo. points around and that I’ll that, transparency data incredible talk turn his amount on Day Xth, everything. over full will I and we with With on Scott data all again, in in provided that the it will detail with commentary. of And Greg Sunseeker the will detail more to just note, you Investor things get

Scott DeAngelo

of increased From we allegiant.com we return saw and throughout Thanks, past foundation transactions past X% a versus that year this to perspective that of with in the XXXX, the to points time transactions of remainder the enhanced brand XX% demand marketing while by into rate quarter, the by double marketing to strength initiatives expect visits tightened The and experience. up a and John. and period. drive Allegiant’s continued strong up awareness, year next web were domestic leisure the major quarter travel web this increased were efficacy same Visits app this laid beyond. we fact

combined Nearly allegiant.com URL links. XX% which in variable attract and because clicking by to more links us and organic returning of of costs any by marketing came visits convert the ways. came All or emails by advertising engine without search directly more incremental customers cost to the allegiant.com and the lowest visitor clicking new to entering

notably quarter number We allegiant.com. the Overall saw XX% cobrand XX%, versus rentals comprises fewer car three the cardholder all stays Allegiant and engagement Most of one in offered which passengers customer in card, credit also of program’s month number by which revenue, our saw hotel up it’s XXXX. and despite deeper and than XX% card were new XXXX. World This more versus in up Total we Mastercard especially loyalty and best this was new card-based levels respectively. for new non-credit during set our quarter QX. across third-party was June total than sign-ups introduce is by foundation the by promising Rewards, upon is more for quarter May to an history Allways cobrand past which launch up program, compensation XX% the to acquisition

all to age value this the of non-credit program to less appropriate think loyalty flyer that to been tech It allegiant.com. larger across life designed Investor not are leisure following we’re to Well, international delivers travelers, positioned reach primary redemption miles-based but both traditional repeat at programs with a fastest our points to new distinctive model, ability largest cost by select leisure the brand program travelers. ability forward from rewards is sustained and high was will point week, and to Target those to co-marketing by recall value for not the earning travelers fans Gen As most planning ever and benefits live allegiant.com. a for simple earlier rewards about to leveraging complexity distinctive rewards, and in operational touch Circle access these who purchases to current all but via be and frequent us only All amount the centric. includes at ULCC would the events show Rewards may festivals few. of feature effective low always with complexity domestic frequent of brings leisure earn customer’s it minimizing announced program whose Allegiant introduce the travel their or Ticketmaster, We gain our among commerce behavior are growing across Allegiant’s point that Venues, strategic all And live has and that Allways group transaction to Allegiant’s and maximizes can by be costs music traditional who credit Apple and Live not exclusive ways to ways strategic multi-year this Rewards designed Allegiant country. Live partnership existing the toward the at also from and the and discover of an customer for promote all and we best customers elements customers success experiences, nothing card turnkey Nation uniquely from now our it and customers, to it, and inspiration Prime Nation our platforms by redeem create an together really Ticketmaster base. when any touch Rather, anything in its the programs enable to new believe products access entertainment in traditional program Amazon packages and our The we customer for to represent is just base. give sense. Ultimately, eye what this off Allways partner we customers aspects festivals be purchase will and Reward and attend We travel intent sell domestic that across business collectively digital always anytime and Yet card’s Z often also the detract that built program customers leisure to draws also through the digital a travel to includes there’s customers at of making benefit stimulate engaged offered engineered to to the across XXXX name and partnership for of live will from purchase attainable the unparalleled Allegiant relationships. Card, name experiences patterned The appeal some Day, that with serves model. tickets enables from motivating footsteps and partners sizes program nation. that the and Allways first customers, concerts end, all also travel Millennial

their into experiences events elevate dramatically, a Additionally, over they’ll this at as key leading Gen sweepstakes winning to help and travel X, in brand. our the we email travel customer with Gen leisure and path for pave and and national top Allegiant partnership customers be Z the book offerings program rewards help exclusive consumers destination, quickly allegiant.com, cities, help Millennial always more. growth and database us entertainment to offered live leisure more acquisition new Ultimately, accelerate enhance opportunities expect at

into product that larger existing well Stadium it businesses, the I’ll our leisure most of third-party as us with leisure existing engagements and high just inspire strategically aspects major strengthen weave Wells. through of over revenue airline goal direct network and fabric new fashion a and important that, is transactions focus to this core with asset-light the as Drew attract incremental media pass both along partnership city from travel customers destinations, And margin physical our all that ones. partnerships our streams continued Allegiant and Our and Allegiant with to enables

Drew Wells

everyone XXXX increase during this with huge X.X% the of in through in X% the our associated the despite the of fewer us Thank carrying down end peak part you, growth XX% of is amounting included Scott. continued passengers revenues June, versus plus total second Revenue is Thanks breakage that quarter credit revenue. quarter’s ancillary on X.X%. service scheduled incremental Essentially, Memorial this vouchers just quarter. this momentum A by the revenue number into roughly with quarter the total of of in growth to of of growth ASM X%, second afternoon. for the joining all Day came

program the As redesign recovery of Maury website while in can to program air is than significant ancillary mentioned, through deliver. its helping The ancillary XXXX, and launched value our own aided pandemic. more the bundled fourth held quarter showcase the by

product and will of further to produce continue we program mix broader well to As pricing a develop bundles the appeal continue to to itineraries, subset value. as test

as we And the last even our with will revenue well. as a Additionally, have the story car got XX% has a made in sequentially sold, and done unique the and market, wins despite the Loads car RM again recorded Team the These, history. we Scott mark. continuing days managing job in passenger co-brand cross inventory and turn team fantastic in so available do each trends better five in we’ve net to DeAngelo along alongside figure sizeable we’ll improved company the highest by months. rental improve reduction phenomenal EHI of in July,

fixed XXXX June third total quarter, I this the guiding of versus above to XXXX. and total XXXX, revenue, to operating of revenues replicate in despite total led be are improvements to we sequential we’ll X.X% plus plus revenue XQ of third the X.X% revenue. from and surpassing other headwinds the All fee June month expect the quarter

and scheduled this XXXX. XQ ASM accomplish will service XX% We between plus XX% versus growth plus

quarter to this level across each the however, month. is second opposed cadence, relatively As growth percentage

are September this flying to different We the And to built no be XX% demand year follow is of trends customer. anticipate leisure of as we ASMs. about seasonal July

there. one for through half with part demand are the on demand will come I’m from back and route off-peak early, year to trend end. pleased hyper looks service still sizable seasonal capacity aligning of of growth and the While year-round how weekend fine the reps, new A

XX We this will quarter, X our have Dulles those to second XXX and services, announced in Harbor. Sky new and Washington December in April Among new routes, the year. service Florida, markets the of between begin service to four Minneapolis, cities Melbourne, addition complimentary to Phoenix Amarillo,

third par fourth will For distribution XX in with laid on our context, This XXXX. and of during the investment quarter in groundwork and roughly is routes come network their about from first XXXX XX% ASMs months. and the

We’re pursuing leisure in not only the opportunities. interested carrier new

current competitive that, our However, with Greg. overlap as outlook pass to virtually I’d like is our Maury mentioned, XXXX And to position. to identical over

Greg Anderson

you, good Drew Thank afternoon and everyone.

Before our as quarter over work their thank to echo I the hard commitment, continue past and I others’ for team we want and comments incredible too drive ramp begin, members up. to

offering of million of the $X.XX excluding was quarter. net $XX So headwind quarter, in share. during incremental impact looking the EPS income, shares million of reported we under PSP previous the common of share current or $XX nearly issued increase with at per in earnings This the income the year or the net added with the stock $X business $X.XX per the for from tone just is quarter. second of our per GAAP Adjusted

reference numbers from will the of remarks, the my excludes adjusted for remainder which impact I only, PSP. So to plan prepared

as history. quarters performance revenue total revenue was Second its our margin monthly the improvement by June’s was substantial in company’s highest fueled

Drew revenue, resulting from of Now, recognition voucher breakage this tailwind include a incremental mentioned. does as

extended expiry our So adjusted of XX and early rates order months vouchers estimated pandemic, we variability in breakage patterns. redemption such. to in monitor the the for as our customer appropriately We to

to changes incorporated in our updated trends we reflect been revenue to outlook. redemption these As has patterns, we also have sustained our meaningful continue that estimates no which accordingly, forward observe

revenue this So even was three month. excluding a all-time still June top breakage tailwind,

adjusted costs which only with well X%, to when XX%. below the comparing our ASM non-fuel our XQ by costs of results growth sequentially previous increased Turning sequential quarter, is

Our quarter reported adjusted $X.XX at unit year-over-X the second line X% in in down costs excluding and with came expectations. for fuel

our conviction a engine the months for our million spare aided for million balances $XX adjusted shy cash the EBITDA Moving million during XXXX to $X strengthening form cash quarter in of flow million $XXX spare total Adjusted parts total and EBITDA to aircraft, was of aided to in CapEx, hefty the business per evidenced $XXX during the of into the of increase $XXX aircraft. aircraft. ending kits booking million, million cash during The came annual back quarter by and just balance form the $X.X reinvested exclude the getting the refund. ATL of back remaining includes yet at $X million $XX expect two coming per generation – for our in airline during future quarter by billion which purchase NOL in quarter to for in These liquidity free $XXX debt. average of the the sequentially. of generation and million strength net we as of engine further our for forward of We the X% our receive an million in increase of incremental $XXX

the raise Our in the airline, which was equity enhanced already shares. also very resulted balance position million This May, X.X timed growth equity by issuance cash capital dilution. in the liquidity million limiting greatly to for $XXX incremental raise strong opportunistic to well in was while of

airline continue balance us the well in as front and grow to numerous fortress aircraft we we sheet of take advantage Our serve will see the us. opportunities extremely

as back unit on around based assumptions, capacity to around excluding areas using costs for essential half spread adjusted these around labor, year-over-X $XX quarter, these in cost, estimates Addressing primarily XXXX and come same XXXX. the XX% our trends, outlook, last than incremental in capacity is up should step stay XXXX stations, which the of we expect of and be million half such areas year, back marketing. earnings of us current the fuel over X% reflect call, a help ahead. period second our sales $X.X to less Turning per of half Since such the

So service to in remain might I third-party for industries strategic are of competitive be seem driver light order this staffing providers add as stations challenges. a our unique Allegiant all carriers wage challenges. isn’t to and major need in increases, experiencing staffing other to

For labor, heads longer we term hiring additional are are but stated operational future to only we support ensure our also targets, to growth not prepared opportunities.

For sales, strategic we’re problem seeing also higher might some I additional bottom an have. uptick for in planning accretive primarily the total marketing as credit will line. we we high to And bookings, spend, card due which add be which to expected were a processing to for fees, the that’s than quality believe marketing, finally,

expect for adjusted into earlier. full account half second just to costs, full of current of a and $X expectations be also our for half equity full XXXX year with nearly This year assumes year-over-X. our at per the gallon This capacity share. per expect we as X% with EPS around of outlined, incremental as below year guide share to incremental booking more the we even offering. the these still Combining than count XQ back John XXXX or mentioned increase $X.XX XXXX takes $X.X XX% cost So $X.X levels trends, CASM-X cents, roughly our fuel on our I result be revenue XXXX a

airlines, earnings such to top cash capital, is with flexibility de-leveraging. minimum followed sustained deploying enhances levels capital excess to priority, by back our reinvest and back around excess our in getting So the

year additionally, We total airline expect debt based XXXX CapEx our to be on maturity million, $XXX full profiles. current

$X.X We of be to expect our debt gross balance ending XXXX billion.

our placed now placed of I’m at the XXX AXXX of to end. service total discounted team an compared service our average quarter, have fleet, three in into just excited aircraft to pandemic, levels. and June’s this series XX to all Since to the end second fact, deal under followed for an A week press deliveries XX All X-K enter to expected total be out by a all plan of aircraft finance the the next next be by our aircraft by by finalized of into end we XXX service when aircraft expected the our throughout to acquisition XXXX. needed And the pre pandemic service aircraft lease. series onset, aircraft XXX, expect to the XXXX, round will largely Air Turning year them fleet XX Lease that aircraft we year, fleet in-service on bringing has bringing with during count year’s XX release up aircraft price beginning the AXXX this signed for at And includes incremental XX% forthcoming. announce in an since in to year. These are aircraft.

our not fleet the is also to gives to match years, our months step operational enormous pace the only us Our and flexibility coming demand, have with growth in strategy support. as we optionality but ensure it in lock

and expect our during be this to October outlook earnings XXXX We call. provide budget its quarter our finalizing will

guarantee resort. ending comparison, XXX and total aircraft seat wanted the as signed inducted to the made construction lower believe in by fleet. gauge enhanced XXX our closing higher only pandemic only our secured of with way assets all in of we’ve amounts XX, subsidiary under reframe fleet, be have back corporate XXXX. noted, our our Sunseeker non-binding which to our Allegiant. under a John a rate EBITDA complete XXX the produces the of that flexibility having by we onset the on XX% since I a into Sunseeker to interest a the more subsidiary structure. fleet borrow in XXX bringing this to Lastly, of from the our per We of aircraft service configurations benefit of up total than our capital larger of total In materially By at seats. with the guarantee is aircraft Sunseeker, of The XXX other non-recourse term XXX estimated XX% the two debt equates aircraft roughly seats to XXXX advanced sheet will and outweigh seat

capital equity expected Allegiant. fully financing, So this from project with is this funded to additional be no debt with

completion X. on We along the the are detail to to And and excited look for increased operator its I’ll about providing restarting over optionality further forward with with that, August project the questions. brings it turn

Operator

The Instructions] your from Joseph first Stifel. we Joseph, DeNardi question [Operator have open. line is

Joseph DeNardi

Thanks. the pretty Good I XXXX, said suggests that it respect about guess I’ll growth Drew, for in the someone you potential to your is XXXX. afternoon, XXX aircraft. everyone. end I and plan ask Sunseeker wishes. think else good let

seems you the get how can you’re talk like you into you can if leverage could put about Thank with that growth year, cost you about and you. then off that – growth So Greg just that thinking what context, ASM of potentially? good next

Drew Wells

I’ll disappointing little a a answer. think I bit of provide

right. You’re

We have yet of any potential sort we to for that, growth the said targets. but up haven’t XXXX

final now. is think, to I summer strokes planning longer the spring in obviously a We’re be, going stall. the And of

there’s range for of wide available So still XXXX. options a

ceiling But the potential. the with We’re happy making rate. is, that said, we’re can lockstep appropriate such that at measured like the that with where all operational moving in going Greg and growing we’re to we be reach sure groups

Greg Anderson

and really haven’t level, depend have we yet in that overall some our of outlook cost year general will on kind on to costs. $X.XX next based just the we’ll front, cost range the but unit Joe, next XXXX think The high low quarter over drive I we growth. on can set, capacity a for the growth our $X.XX finalized. think budget we better But I have control we good in more have And after just

Some headwinds compared be face I compared – we labor. to of that as this year would as next to sorry, I’m year that the year this might think

we we Just staffing just mentioned, much did have. profit support groups to growth. that I Also this have as operational up year, sharing normally we’re didn’t

be we next profitable, ownership. be that. think tailwinds some to there headwind think pressure Also I I expect some that on which year, will will So too put

benefit there think we I there we’ll get to to costs out, our and particular utilize better continue airport stations I some kind we’ll be outlook like seeing, tailwind some we’re as that fees. of in aircraft Along some have there’ll benefit the could what put there. capacity landing be see stations, of with we that our think but

from an industry kind this those industry will giving We perspective. is coming year, now of have capacity we capacity full But starts back. there’s think there some right level just out less pressure

provide information, more we have We’ll there high-level a tuned. but you. for thought little stay So just

Joseph DeNardi

said helpful. its think competitive of a non-competitive. I Maury, his Drew, quarters XX% That’s Yes. in ago, and the network was said remarks, XX% you Okay. couple And that to XX% then maybe

a So non-competition you’re reconcile and a calculate just, what just seems maintaining to network there kind about of to are you talk can increased that with how across of level the ways be I competition? know maybe you million that, but different similar can

Drew Wells

that at moved looking pandemic, the I just I depends front reference were then kind frame but I really XX%. the in mean, I we in for that. of kind of you’re that it of And point the Yes, have believe as middle here. your XX%. number on mean, don’t we low about of of starting from as down, me, back

by those So amount in the that largely back of matched capacity at level. amount out been put came XXXX back has coming now the to it

networks. industry to pandemic of there element timing changes a just really and it’s So

been In addition have large that in to I we’ve competitive announcements made of by XX% all X% – believe that the to and range. somewhere the

our end away this diversify continuing to continue of to do we by from competition. So still

Joseph DeNardi

Thank you.

Operator

For the Catie OíBrien next Goldman is from we line question, have open. your Catie, Sachs.

Catie OíBrien

just the so on time. fleet. Maybe Good Thanks afternoon, much the for everyone. one

the year. about has of remained incremental So since you’ve aircraft that XXXX you’ve February. since sourced your same XX the talked start But CapEx the

aircraft up those line deliver? you year expect have sight as deals these aircraft to of next we then? did bit should back a of the CapEx to Or So step rest

Greg Anderson

acquired it’s it’s and with I clarify that. deal Air lease. helpful a that mentioned Catie, question the great of met are Hey, finance Lease. Those we’ve to Several Greg, on just a aircraft us like the for

line. CapEx think in from roughly we’re net a So perspective I

to full those XX and will put didn’t of XX And there that cash delivered So four I update aircraft, CapEx guess, I be reflect like in that. this then CapEx guidance XXXX, but for numbers still in airline be put the year year, those to will but about a out lease, we then good under We a finance we – feel think remaining it perspective. that that our year today next from, CapEx.

Catie OíBrien

Live channel types Got the were relationship just hinting asset, co-marketing it, these maybe sales coming we for so of got better clear. with works. and sounds like we that understand quarter a had question I to partnerships got it. kind how you last some Nation Very one like then And of announcement. Scott, want

a or that just of the buys much. Vegas it address opportunity? for structure then was is Allegiant just they payment like does or so that Thanks concert like there So maybe something someone does billing type and how work if a get Vegas? how Will work from marketing like card in level credit outside pushing really that of Live Nation – an email high

Scott DeAngelo

for thanks And bet. question. the you Yes,

select point right Allegiant. Two the with ultimately partnered buy they exactly the with they course, things Live that of and as be ticket, of a You’re happen will and Ticketmaster Nation will And view. presented venues from here commerce as customer allegiant.com, mentioned should to behind sell data, a we partnership. an about venues But and scene, course, as to those one of be we the take digital at will moreover and think inventory this a events. we’re able

the the and they And presented many the be help of reach year digitally, to individuals as just and us more time, exactly, them to deal we we’ve to long-term a it’s very you we two-way but be a be forward where that but relationship to to other in sometimes say other will this consumers partner as that And so looking multiple us disclosing so released as reaching it’s partner. a any look and having And enable aren’t will help financial a access customers arrangements collectively a we sometimes potential that looking a gaining physically up that it’s said, focused targeted serve. nature way. markets partnerships in

Catie OíBrien

Got it. Thanks.

Operator

line is Helane question, your For Helane, from we open. the next have Becker Cowen.

Helane Becker

Hi very thank Thanks time. everybody. much for very much, Operator. you And your

on smaller for about once tinkering, that Just need? think Are about that airports you? kind not able that be at maybe the your fuel should think what – of we out you there of what’s about you’re tinkering you get some if Are that? cost is should West to you curious And availability how how we this Coast, the working issue on ends?

Scott Sheldon

in Yes, summers, day basically don’t still upwards Sheldon. Scott the early this any Midwest Northwest, since availability. is XX of the to have upper – and this we’re we’ve markets really what some seen there’s Helane,

just So situations by most text tinkering. got all than we There’s than fuel to it, this can where accomplished up. is often do very tinkering not few more missions be

starting As of list but maybe far what as the cost, extra a upwards be clearly you’re – saw of cost XX. to to XX say, it’s to markets. used I upwards see I want of pounds the

logistics trucking production That stuff for will and So supply there online online. comes as back come fuel fuel back operations. normal available be

Helane Becker

happened, if the rate pandemic but the that. in have That’s would for On adjusted like year-over-X like rest know you. XXXX as helpful. if question, were and can so this, it about not adjusted, don’t be. what think very have Got talking base who basis, other sure But XXXX a had And – number? you not about capacity and XXXX that an that answer been the XXXX the do the can actual pandemic on you this, or I I then what’s can of versus we growth

John Redmond

kind close now, just XX% Obviously there’s of relatively don’t of two we years. head, expected to have of but right, we’re horizon. where I both to of Yes, the on off mean, be I’ll those top CAGR take stab. that the exact year we’re shy be number going if on my XX% to going a

at entirely I point. we we So but maybe just expected, don’t think where far thought had we’re a tick below off this we’d where be

Helane Becker

That better sorry. was way. a ahead. Go I’m

Maury Gallagher

of We the moved months the two year XX%. first

you when a went we an transition. X% XXXX of as were bit we fast looking gave are much that XXXX growth it’s was as we But out to because it pick indication. limited not our only airplanes finished So we coming little up into XXXX.

Helane Becker

Yes.

Okay.

thanks for Maury. Thanks answers. thanks, Well, right. All Very helpful. those really team. And that’s helpful. So

Operator

Bank. is open. we next Deutsche have question, line your from Mike Mike, the Linenberg For

Mike Linenberg

Good Yes. everyone. afternoon,

on interesting Just when don’t the just carriers like all traditional the markets to a at are curious five I have, now some you Allegiant on Bellingham. Arizona, here have Mesa, one we the a surface, these be it or hand. quick to targeting you’re Gorda, going markets, four markets, that on one look looks you competition lot Punta of like know, more seem I’m And

are pair to of a and Panhandle, some effect, halo some when Allegiant, benefit Fresno other, in the we’re especially airlines that the the I not pairs if different these aren’t on from that Southwest the you Florida now actually markets there and Bellingham guess, city duplicated presence. city will, to actually flying have airports a screen, that it radar be there’s On these a you fact probably and if may may

of effect curious more halo and just or that. it. So airports a whether it’s and from Thank some benefiting not smaller traffic to on you. you’re driving on these there’s Thoughts

Drew Wells

At traffic here. see Drew we Yes, definitely a the announcement, kind Sure. of of halo effect. time

talk going think still airport. of I probably months to of to we’ll that term. think And certainly about the in short them stop early say definitely and But in I I’m in going short impact you’ll terms awareness, I the and be. back our see presence XX what long-term the embrace that’s their in circle traffic thing long-term.

Scott Sheldon

flights are all all to carrier, someone those stay Las The connect competitive effect person since you. in are to cases only and the flight to really where the I does a non-stop our we you case is. halo is on thing exposure there well depending else that it as really on point. is flying somewhere and add know, from would But routes origination many Vegas that the isn’t Thank kind be little It’s else. very to actual endpoint damage in of driving competitive where bringing

Maury Gallagher

Yes.

Just everything finished point we Michael, all to point. do out, we were just is

So hub. connection. a activity, Southwest a you don’t this It’s even through anymore of have lot any going is hub. A

or up cities, all if way the they’re it’s of that’s product if into we doing of as our into to So competitive not you’re connecting Northwest some BWI the But VPS, nice. think.

we’ll see. So

Mike Linenberg

on and maybe have loan we did what you PSP Okay, the you’re about at Greg, great. come second really shackles the various on off think And a one it question I point realized Allegiant, and that benefiting from. cheap us, does then that there’s restrictions remind as can just just

you’re pay repurchases I’m share in the microscope that? the down get away so the kind more to a reinstitute paid on timing sure of out executives handsomely of in you things could all or the be that, that past. consider of dividend best since potentially And thinking whether are from where come to position among to come completely that What’s has the government. and you And about out carriers under from before sort how not the than not

Greg Anderson

X the share and for come there. dividend, of thanks ability October Mike, in year and repurchases dividend It’s again the of to the Shackles off a a terms Greg. question. the issue next like

April and of that’s we of those terms comp a like just two talked liquidity think XXXX, we are as nice in about. restrictions, position perspective I put X In into executive to

to largest left. shareholders here my sitting the have We

Maury, I keep through when we consider returning minds. nothing just or even either to those shareholders, a company, there board well comp would pandemic and today. And be in but back something surprised beyond. just, the then your our done a to executives leadership care job the creative the and form senior a So to team we’ll are think in through of of shackles if taken point – I I at really that dividend the executive you getting and to and value our just speak off wouldn’t that has come about share our It’s to back ensure say mind of repurchase, the of John looking nice

happy been in accretive just that get – we able what is And to that with do. And pretty my tried so to sense everybody’s way. I they’ve

Mike Linenberg

Greg. Great. Thanks Thanks everyone. Great.

Operator

next Duane, question, Duane from have Evercore. we For your the open. Pfennigwerth line is

Duane Pfennigwerth

I it appreciate results. thanks. on these Hey, and congrats

to what line breakage fall Just we or future the in? see revenue fare and more with could respect all base that breakage, passenger in does quarters? it Is

Greg Anderson

disproportionally. and this you’ll in Hey, and It’s off it so add. spread basically Drew throughout, third-party it to kick Sched if I’ll see Greg. Duane, wants is

a saw right. way as is that large a you I to as back a it on rate I of pre think I were quarter, a did at you catching I the number think it just go-forward in would run on the we And expect it about basis, then more think then, up, so be go-forward just normalized pandemic. really about would So And why the perspective. as basis that from second

Duane Pfennigwerth

see had nights, of if attach then recall looking some at how you and And you trending great. across room the where attach maybe leisure in talk Okay, talk the about higher you disclosure rates going and back could that XX,XXX. a so rates so I bigger about, rate, attach are almost Can destinations? hotel Vegas just

Greg Anderson

then, kick watch that I nights that seats will Vegas. anything. touch of hotel kind to you Scott, room is what of off, have maybe we’ve with and Yes, The distribution if biggest historically thing the tracked

the far cash is been slowly as years. Our the best a XX by percentage Vegas of from in whole, really rate here system, away the we’ve of over and drifting kind last the

the that And hotel kind results. through seen of so you’ve

Of course, that in clean there’s offset so east a a that’s coast by presence higher between rental the car, pretty correlation that.

Scott DeAngelo

metric upside. an a a Yeah. I And but would updated of in remains say one. I provided XXXX, strategically, back there have similar lot I

are attached. XX but checked For is There that the out hotel cart are on. every actually that shopping not put stay one in

but initiatives checked digital of marketing to are the continued be of make Greg doing get help in these difference all lot it initiatives, and the in XX of a strategic shopping we next what our way some to that those to variety don’t will part bridge cart, out referenced XX evolution a just months. six the the So

Duane Pfennigwerth

to where but conferences have fall I large they’ve hotel of back of just the then seeing heard come the kind relative revenue you managing don’t rates are to view some these and online. high yet, We’ve Vegas have you as on specifically, are been. very specifically anecdotally if And you in September, into into know Thanks. you’re not a what Vegas, a rooms extent

Scott DeAngelo

No. it us quite experience Vegas In well this through holding that up into same for doesn’t is September fall. the reasonably Florida will through seasonal general, the Certainly fall. the and chaos

there, I in a pause as see back, and short see we’re We’ll a as would directly, short big And not things of bit that. hotel seen hotel. the should little saying I conference as general, it’s to what on here we that comes a little of comes conferences for beneficiary clean here. but par lift it quite we’ve especially On massive uptick side, summer, with the of still look stop fine. a kind of the

John Redmond

additional Las are have we overall Vegas nine seen linked. stadium. where games selling We’ll one – point on NFL games least market inextricably ticket at direct The six beneficiary I’d of and a be is weekends the XX that prices. about NFL is make Many by Allegiant’s secondary of top the at determined

of terrific Our have and done home Baltimore, at standing cetera. team Drew and capacity Chris be job it Allegiant those up visiting et stadium Chicago, in here markets, games a and

dividends traveler be two, other very directly way leisure yield the play, with seeing question. Allegiant for that those with hotel the on One, should pay events Stadium. major that and of natural the up be weekends does have answer we’re a And happening. a to there’s Allegiant and so your investment variety And will

Duane Pfennigwerth

thoughts. the for Thanks

Operator

For the your question Syth open. is Savi have we from next James. line Savi Raymond

Savi Syth

Thank you everyone. and good afternoon,

outlook summer Just but term on third the curious how in of here, – I like appreciate the longer how curious about you’re quarter? thinking post looks

John Redmond

in or… of what Savi, demands terms

Savi Syth

seats, September. mean in a of I Exactly. lot your think, are I

you about yields factors how the should think of drop versus or or load year? how expecting historical last kind to So year looks post to are summer this drop? even we Or

John Redmond

September on mind, still keep of view is remarks, the in size XX% about opening and September, the I My July. as mentioned in

the So and smallest it’s quarter year. still even the portion really the of

I of people will and to of a there’s kind car a think hotel into factor travel of does. rates, the fall do think summer that It naturally trips could because that, chance that bit. on will what that So with shifting were load continues it be inventory floor back be little out a of bit rates, rental because priced lift step I do little period. the

as a a fall bit we than is always would higher do expect, I normal. still off expect little do I So but floor think the leisure

Savi Syth

much sense. is just has business disruption. aircraft Allegiant to handle capital something without Scott four aircraft I too to from aircraft think Greg, just how and by curious and And that the one since an has that’s been the which that of team about then raise, operational that or month, able side, historically, just kind been of taking a aircraft Makes tied the many on the secured you’ve of

next taking year? So XXXX view what’s aircraft on your

Greg Anderson

May. is Savi, many capital off it’s to raise the Greg. post signed quarter turn or XX I’ll and then XX it it aircraft kick out, we’ve since over Scott here. how BJ. this

and aircraft we bringing aircraft pipeline, to terms really respective pipeline together But going Scott facility, those of make In Robert kind the put or these Neal on of Melbourne facility want sure Sheldon derisk induction their in BJ getting front? here teams that a to that and through. anything have and in Scott, add that nice you

Scott Sheldon

the deploy the Yes, July. early to order for – aircraft, I I the in think pilots think started obviously hiring

we’re XXX And XXX flight that of won’t I end. So upward of hiring upwards cadence suspect pilots, attendants. the hiring

of of what at can do just upper training threshold footprint internally. kind We’re we a the from

speak. factory so And high – the to in it’s so back is gear,

Savi Syth

Thank it. you. Got

Maury Gallagher

leaving are the – personnel and the gate the number one other One they back Maury. of system issue. it’s people operations. people too, it’s being that at Savi, in get around surprise Many still me that’s going to biggest kind amazing because TSA. dislocation rust I through thing, the is as the got too. on, to the get just it’s we’ve place bags The I an everything lingering can’t of, said, mean is

at the and as and control. So the – industry of XXXX, the that, top to as into a that’s operations going we if But you bargain to so not has be, not to its industry under And but up, look fast of it me, really too, well. XXXX we was the end go in our marker back get XXXX how certainly notch. of is much held can

we’re something XX,XXX TSA like think that. agents, short I

the the ours. of got all it’s yes, – right whole one in get chain back middle of conversations you’re hearing, the So we’re we system got to to supply up,

Operator

Wolfe For the have Keay your Research. Hunter next Hunter, from open. we question line is

Hunter Keay

some Hey, other most. are not people you. really biggest studied features that your the of obviously what dislike Scott own as the strongly airline Thank competitor the in you of loyalty DeAngelo, find of programs you programs industry,

Scott DeAngelo

we you include – case, and the at right, even points currency it never in get you and that, some that just you They around of there’s those of to from thing this They’re Thank name-your-top found Apple days, trip SkyMiles, you anywhere is most to Hunter. in any will, certainly why going some a – Allegiant.com. you XX,XXX, on Advantage. question, status, don’t big XX% where thing program, buy The about I kind that – enough affect of they earn there’s Card, miles if they get to one. other of of blackout and Rapid anything it’s enough for dislike didn’t moving our money, XX% about I’m think myself Rewards, with chose said members the our was use flew hence kind the if The are they anytime moving – days benefit XX,XXX customers and date was the days, XX% can we want it’s for miles. can’t those of you free plane, biggest spend programs. you their use to not the seats What familiar for around

call they we "Allegiant space, what will, don’t direct fit. them the let that play your but be and given just effect it that’s see we that even decided would question is just in it if to the money", you that, those spend to So answer in not it

Hunter Keay

you and of That’s think what that of of elastic not your it maybe is next I because up leisure interesting. got things over for kind Drew, sort revenue you’re Thank as industry is travel the overall supply say travel Or of of this right in How just seeing management pent considered. stimulus couple is a this informing thought demand? to on amazing Are And is as low maybe situation and storm lot perfect now. all then starting was? decision-making the flukish of us demand a money years? right leisure you. now

Drew Wells

terms history of Yes. inclined certainly elasticity price the over XX believe years to last customer of and the months XX XX I’m our first to in behavior. company’s

coming things very missing of different the together storm entire this year is of behavior. really I perfect an kind to checks, on stimulus virtually travel, think drive much out of

back even yield, to by and all I of really the this you’ve which return It’s to think kind half – revert our to really normalcy hold along in the some seeing mean, the large, strategy we’re our load. year, at was of the I at seen up of expense it now. of yield starts loads this expense even

So of I in we’re midst think soon. be now, the full-fledged that pretty seeing we’ll back to return normalcy and

Hunter Keay

Thanks it. Got right. a All lot.

Maury Gallagher

Hunter. Thanks,

Operator

your is McKenzie open. Global. Seaport Dan, Dan line we question from next the have For

Dan McKenzie

aircraft new could respect year, hit the [Audio year Dip] questions a to early. the goal you XX aircraft the XXX with XXXX planes here, order, next of potentially suggests aircraft

has So first fleet I that question goal guess here changed?

Greg Anderson

head just on Dan, that, it’s start gets I’ll us Greg. it a say yes, nice that.

aircraft. in you opportunistic always take know, you puts think and we’re at XXXX it XXX. that But Allegiant If here as when a to XXXX, you to CAGR closer acquiring I XX% comes

a you gives nice have jump a continue see take will and yes, So there we out on BJ to an anything to start order don’t just if closer years, up what’s XX% outer that his available. market you’re Neal those and on it like or XXX. the that. and team But We’ll look us continue to at CAGR

Maury Gallagher

translate deal will good a good into you’re deals right is hold so. think those to should we dictate if but we buy away. and I sooner, too, deals doesn’t going but is these put forever Operations service presenting a airplanes won’t good are have that an airplanes, Well, into marketplace which on a them – quite add-on, deal Dan, few, that that, the

Dan McKenzie

Understood. Yep.

just think the then aircraft. multi-year reverting business, a And you here, in the Okay. as back EBITDA $X per to question also about million

more just include And, thinking the a profit where apologies XXX the contribution efforts in about that this question? have Sunseeker guess aircraft seems to for I XXXX, include And next Could digital if contribution? big operation. picture, you’re aircraft, and the or $XX Does is, And profit airline earnings. that guess, over think I XXX that how airline. in share in to are imply the $X going I the than past that’s goal potential I’m with cycle? a of the real is be that is Sunseeker this you’ve a running potentially does the said answer Investor Day’s the Xx million per Given

Greg Anderson

on Perhaps EBITDA the Dan, it’s may Drew, want per Greg. it DeAngelo I’ll jump and that here kick off aircraft. else or in to anyone

it or no, back not include it first, to does The Sunseeker number. excluded be that would that getting from

it, year. on And – in about maybe per the more EBITDA think I a per mentioned little we’re per aircraft north produced you aircraft bringing that of As XXX-seat million, one those aircraft. XXXX, million $X $X on aircraft average bit

goal the this think getting say that. do say believe that restore I that So that can job which per where only Scott, today there, we we’re is that and Scott there. that on structure in do want number $X they ahead support get possible EBITDA that. place and to that don’t it what Drew And is we But side, one here as revenue be aircraft. get help I there’s Drew? upside to see enhance soon say We then feel the as to back my I of and back would as could we believe in to cost to DeAngelo at, skis like or million get That’s and can well. to to our that

Scott DeAngelo

a is just can The attract the any expensive only to thing know I I most ourselves business think do store, I more is would is spot before, on. accretive do said Allegiant.com. most add strategically, the to can their it cart. have Yes. shopping that we thing store, digital in store, you’re I’ve to in things included, add case, our customers them the Once

And about so beyond lot we selling talk the aircraft. a here

that beyond fare, to talked stores, So the to as the aircraft customers Drew absolutely double already things the sell cart. different yes, all there’s emphasize just more to getting ancillary of and said, paying third the into upside we’re able base their that what them Greg who are air to but put more party the about, come in to

Dan McKenzie

discount, in in as XXXX, I’m XX of the flying was at in in we one would XX of quarter. be what in anticipate squeeze just curious I percent resin then one XX% the than that second average the if less we And And the months. last markets of terms less ASMs Understood. what should months. look one, routes than the here resin Drew, system

Drew Wells

Thanks. number Yes, XQ terms in the have I of than in of resin don’t discounts. front me

it’s in But half routes. year a route come X.X% have is really story you to terms I’ll one. only So in the that of in second new to distribution, there quarter, back on the of terms back of

the being So going what to last relatively line over X.X% you’re four three we’ve in years. done be with to

notice you material wouldn’t anything So basis. comparison probably a on

growth. XXXX, I still fair route into Going anticipate amount of new a

I think there. we a as gaps more do filling little growth, kind some bit will in the same-store distribution of come down

south XX%. So of XX% that to something I’d expect

Dan McKenzie

the Very guys. good. time Thanks you for

Maury Gallagher

Dan. you, Thank

Operator

Cunningham question open. Conor, next your the we For Partners. have Conor MKM line from is

Conor Cunningham

everyone. Hey, prioritizing clearly like yields during of Thanks time. seems the factors. the for recovery you’re overload It

just fees. Just willing the on should trying the yield? the and going your other to pandemic, historical lower Thank maybe drive load to to a you revenues to then take going protect trying back or side people as ancillary you’re assume you. we revert Or on of forward get to that norm are planes with

Drew Wells

Yes. pool thought sense as we the forward. rates. the demand the prioritize pool incremental we we Conor, to the it if over look question yield more load generally stimulating factor is smaller, customers fly to yield discounted with as and down demand to it’s weren’t size us Really of enough promoting came the made more for

that back As larger par to if to load. pool summer into for older made strategies here the to that on returned generally kind revert it of us sense as not of pushing

there Now that that once make all is the are where of the pushing still but load there the way places by factor XXX% again. network thumb of large yields yet, sense, rule is and and

Conor Cunningham

on just would have then base. you points And your great. interesting data guys Okay, customer

on I have booked airline phone have quarter people you first that their think your XX%. the in mentioned so, And of vaccination rate that a above

demand. Thank hurt that like sits mass customer that So reason more going and And issues base around a And kind that all any forward. the today? your is, of is it I insulated stuff you. going And time. delta from ask conversations about lot appreciate of there’s curious could COVID-related the why the seems I where just variant

Scott DeAngelo

much but up Three that everywhere Yes, XX-XX our is base, customer many from quickly later here, It in but months seen as as answer as tail percentage basically climbed XXs, else. that. in long the it’s not X high nation just points, so we’ve I’ll like the a whole.

Conor Cunningham

you. Thank it. Appreciate

Operator

the Stathoulopoulos Financial we next is open. line your [Susquehanna Chris, For Chris question, Group]. have

Chris Stathoulopoulos

thanks my everyone, Good taking afternoon, questions. and for

from two me. So

into looking you faster and capacity. than harder perhaps off others be pull there that doing versus have expected are at we back might to on come you areas as that work As and leisure might’ve you’re better or here work costs, up recovery in

Greg Anderson

there. Hey, for Chris, a this – just there Greg. minute is to up broke I you want

side, up just performing pull that right. capacity, better to I sure understood we if make want you I know it, the there’s areas want the On cost we’re as to just

Chris Stathoulopoulos

versus Yeah. few demand be you to that months Areas through might doing little work or today, areas started productivity that more to relative that Thanks. and there’s off for bit other take perhaps you a you’re outperforming when that better pressure measures. expected perhaps harder off ago areas really or to than a areas you’re

Greg Anderson

Okay. I got you.

Okay.

of some some area taxes better In think compared that. I just from item, things and training, as and we’ve our our we the to other benefit as that on So the other a seen areas line up. we’re efficiency, ramp is pandemic today things like even doing such lot as

going though, bring tailwinds where that. today, about that I pilots some ramp we’re we on down So the but on some more Scott headwinds on has start probably we think we’ve driven see feel we that, road to as we’re say to, front. alluded to to as I’ll sit we see going up, good

think earlier, will transitory. Some like on of the the those we away. cost, headwinds that go airport I Those are mentioned

about a world. that I into That’s of pandemic. parts just in there. service make they sure like But bit think, where and $XXX as We inflationary, million ultimately, I in onset the aircraft BJ what we’re the To ended Last pay aircraft strategic little allocated XX% savings the and put comments, quarter, we’re perspective, if discount, that, from talked we up went can I out, providers up that that strategic there finding to a like other are competitive for million $X out mentioned pandemic ground we million perspective have signed my a for discounted, aircraft saving. doing as XX% since the also the that to areas initiative, are this that to you’re we our is opening I that’s aircraft, meaningful better mentioned team well like trying parts do that that’s capital on, XX his talked $XX we per discount. getting we remain about

So essentially and us parts those that the taking thrown – $XX some at can has million doing regard. combating these we of worth we million best costs the and ways in the I more strategic think, being that mean that we on. paid I of are, efficient, just $XX what are inflationary pandemic

could So I question, me your hope follow but on that. that I if answered know let with anything up

Chris Stathoulopoulos

just know route have a unique and makes lower a but Okay as I and model comment follow-up the is what relatively you overlap, you – your on side, could other curious Thanks. between network then ultra-low-cost And dynamic the of split some on your cost the versus and peers larger if you’re all peers? and low seeing? of that some fair possible, at

Drew Wells

legacy our first is kind is The here note with flying thing overlap mainline general low. pretty I’ll of

quarter by of June. other from folks carriers to there. well lot a commentary general, give sample be even think biased there’s for don’t In as I So front. fairly I’ll not same able yields third great about mentioned flat a lately you that on have been the read-through some being That’s thing

with not environment, the we I’m at like months three in that concerned into leisure sit is all is think I I’m the higher world, the what of yields said, quarter. we’ve primarily from where pricing same from leisure pricing pushed saying. healthy. heard fairly And second others. I least markets in the We

lot I from seeing at I’m sit. where So a least not weakness of

Chris Stathoulopoulos

Thank Okay. you.

Operator

would no are Maury call for I There closing to this turn over further time. like Gallagher the remarks. now questions to at

Maury Gallagher

evening. days. you a very you Have see much. good in all Thank We’ll XX

Operator

call. concludes today’s this gentlemen, you participating. all and Ladies Thank conference for

now may You disconnect.

Allegiant Travel (ALGT) 29 Jul 212021 Q2 Earnings call transcript