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allegiant Exhibit 99.1 ALLEGIANT TRAVEL COMPANY FIRST QUARTER 2021 FINANCIAL RESULTS First quarter 2021 GAAP fully diluted earnings per share of $ 0.42 First quarter 2021 consolidated fully diluted loss per share , excluding COVID related special charges and benefit from the payroll support program of $ ( 3.58 ) ( 1 ) ( 2 ) LAS VEGAS . May 4 , 2021 - Allegiant Travel Company ( NASDAQ : ALGT ) today reported the following financial results for the first quarter 2021 , as well as comparisons to the prior years : Consolidated ( unaudited ) ( in millions , except per share amounts ) 2021 Three Months Ended March 31 , 2020 Percent Change 2019 YoY Yo2Y Total operating revenue $ Total operating expense 279.1 $ 254.5 409.2 $ 451.6 ( 31.8 ) ( 38.2 ) 527.0 360.5 ( 51.7 ) ( 29.4 ) Operating income ( loss ) 24.6 ( 117.8 ) 91.1 120.9 ( 73.0 ) Income ( loss ) before income taxes 8.7 ( 130.7 ) 73.9 106.6 ( 88.3 ) Net income ( loss ) 6.9 ( 33.0 ) 57.1 120.8 ( 88.0 ) Diluted earnings ( loss ) per share $ 0.42 $ ( 2.08 ) $ 3.52 120.2 ( 88.1 ) Consolidated - adjusted Three Months Ended March 31 , Percent Change ( unaudited ) ( in millions , except per share amounts ) 2021 2020 2019 YOY Yo2Y Adjusted operating income ( loss ) ( 1 ) ( 2 ) $ ( 59.0 ) $ 55.1 $ 91.1 ( 207.1 ) ( 164.8 ) Adjusted operating expense ( 1 ) ( 2 ) 338.1 360.9 360.5 ( 6.3 ) ( 6.2 ) Adjusted income ( loss ) before income taxes ( 1 ) ( 2 ) ( 74.9 ) 42.2 73.9 ( 277.5 ) ( 201.4 ) Adjusted net income ( loss ) ( 1 ) ( 2 ) ( 57.9 ) 32.5 57.1 ( 278.2 ) ( 201.4 ) Adjusted diluted earnings ( loss ) per share ( ¹ ) ( 2 ) $ ( 3.58 ) $ 2.05 $ 3.52 ( 274.6 ) ( 201.7 ) ( 1 ) Adjusted excludes COVID related special charges and the net benefit from the Payroll Support Program Extension Agreement ( the " PSP2 " ) ( 2 ) Denotes a non - GAAP financial measure . Refer to the Non - GAAP Presentation section within this document for further information