Record Customer Completion and Loyalty
Allegiant achieved an industry-leading completion factor in July, setting a new monthly record for the number of customers flown. Net promoter scores remained near all-time highs, and the airline was recognized by USA Today for the Best Airline Credit Card and Best Frequent Flyer Program.
Cost Structure and Operational Efficiency
The company saw a 7% year-to-date reduction in CASM-ex, reflecting efforts to remove structural costs and grow ASMs without adding aircraft or personnel. The MAX fleet integration has been successful, with these aircraft expected to comprise over 20% of ASMs in 2026.
Financial Performance and Outlook
Fourth quarter operating margin is expected in double digits, with full-year airline operating margin around 7%. The 2025 airline EPS guidance has been raised to more than $4.35 per share.
Liquidity and Debt Reduction
The company ended the quarter with total available liquidity of $1.2 billion and made voluntary debt prepayments of more than $180 million. Additionally, $120 million of 2027 bonds were repaid in October.
New Route Performance
19 new routes are set to begin between Thanksgiving and early spring. Of the 51 routes operated in summer 2025 that did not operate the previous summer, 85% contributed positively to earnings.
Technology and AI Integration
Allegiant is investing in technology to enhance customer experience, including leveraging AI for operations efficiency and revenue modeling. The company has implemented systems such as Navitaire, SAP, and Trax.