Earnings release
Page 1
Exhibit 99.1 ALLEGIANT TRAVEL COMPANY THIRD QUARTER 2026 FINANCIAL RESULTS* Third quarter 2026 GAAP loss per share of $(0.56) Third quarter 2026 adjusted diluted loss per share of $(0.03) * Year-to-date results include the financial performance of Sun Country only from and after the date the acquisition closed on May 13, 2026 LAS VEGAS. November 4, 2026 — Allegiant Travel Company (NASDAQ: ALGT) today reported the below financial results for third quarter 2026, as well as comparisons to the prior year. "Allegiant delivered another quarter of operating profitability, expanding our adjusted operating margin by 340 basis points year over year on a pro forma basis in our seasonally slowest quarter, despite a more than 55 percent surge in fuel costs per gallon," stated Greg Anderson, chief executive officer of Allegiant Travel Company. "These results underscore robust demand from our customer base as well as continued momentum in our commercial initiatives that drove a 28.3 percent year-over-year increase in TRASM, on a pro forma basis. They also demonstrate our flexible business model in action as we reduced pro forma capacity by nearly six percent year over year to protect margins in a high-fuel environment. "I am particularly pleased with the momentum across our commercial initiatives, highlighted by co-brand remuneration growth of more than 23 percent, pricing and product enhancements that lifted ancillary revenue per passenger, and our new Expedia partnership that is introducing new customers into our ecosystem. Continued execution, combined with our expanding scale, creates multiple pathways to realize the underlying earnings power of the company. "Looking ahead to the fourth quarter, 72 percent of our ASMs are scheduled on high-demand peak days, and fuel-efficient MAX aircraft are expected to account for 20 percent of our combined capacity. With strong booking momentum, we remain confident in our 2026 full-year adjusted earnings per share guidance of greater than $6.00, despite elevated fuel costs. "I want to thank our dedicated teams for their exceptional execution and continued integration progress. Together, we are building the nation’s leading leisure carrier, and we look forward to sharing our integration milestones and long-term financial framework at our Investor Day on December 7." (1)(2)(3) 1
Page 2
Summary Results Consolidated Three Months Ended September 30,Percent Change (unaudited) (in millions, except per share amounts) 2026 2025 YoY Total operating revenue $ 961.6 $ 561.9 71.1 % Total operating expense 950.8 589.1 61.4 % Operating income (loss) 10.8 (27.2) NM Loss before income taxes (20.1) (52.2) 61.6 % Net loss (15.2) (43.6) 65.2 % Diluted loss per share (0.56) (2.41) 76.8 % Sunseeker special charges, net — 0.6 NM Airline special charges 19.1 2.9 NM Adjusted loss before income taxes (1.7) (47.6) 96.4 % Adjusted net loss (0.9) (37.7) 97.6 % Adjusted diluted loss per share (0.03) (2.09) 98.6 % Consolidated Nine Months Ended September 30,Percent Change (unaudited) (in millions, except per share amounts) 2026 2025 YoY Total operating revenue $ 2,637.5 $ 1,950.4 35.2 % Total operating expense 2,524.5 1,980.1 27.5 % Operating income (loss) 113.0 (29.7) NM Income (loss) before income taxes 40.8 (98.8) NM Net income (loss) 22.4 (76.6) NM Diluted earnings (loss) per share 0.97 (4.26) NM Sunseeker special charges, net — 100.9 NM Airline special charges 112.8 18.9 NM Adjusted income before income taxes 156.5 25.6 NM Adjusted net income 119.8 18.4 NM Adjusted diluted earnings per share 5.16 1.00 NM Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures. In 2026 and 2025, we recognized certain expenses as special charges related to both: (1) Airline activities including accelerated depreciation on airframes identified for early retirement, accelerated amortization of software identified for redevelopment, costs related to the Sun Country Airlines acquisition, organizational restructuring, and a credit loss on a note receivable, and (2) Sunseeker Resort including costs related to the sale of the resort and weather-related damages (net of recoveries). For a listing of these charges, see the special charges table in Appendix A of this earnings release. The adjusted numbers in this earnings release exclude the effect of these special charges. In 2026 and 2025, the Company incurred gains and losses on debt extinguishment related to prepayment of debt facilities. These are added back or subtracted out, where appropriate, in our adjusted results. Results include the financial performance of Sun Country only for the period from and after May 13, 2026. Comparability of consolidated figures to prior year performance is significantly impacted by the acquisition of Sun Country as of May 13, 2026, and by the sale of Sunseeker Resort in September 2025. Not meaningful (in some cases, due to the lack of comparability as a result of Sun Country results only being reflected in 2026) * Note that amounts may not recalculate due to rounding (4) (4) (2) (2) (1)(2)(3) (1)(2)(3) (1)(2)(3) (4) (4) (2) (2) (1)(2)(3) (1)(2)(3) (1)(2)(3) (1) (2) (3) (4) NM 2
Page 3
Third Quarter 2026 Results and Highlights • Consolidated total operating revenue of $961.6M • Record third-quarter TRASM of 14.18 cents, up 28.3 percent year over year on 5.7 percent less capacity, both on a pro forma basis • Total fixed fee revenue of $83.6M, up 7.9 percent year over year on a pro forma basis • Total ancillary revenue per passenger of $76.64, up 5.8 percent from the prior year on a pro forma basis • Adjusted operating income of $29.8M, yielding an adjusted operating margin of 3.1 percent, a 3.4 percentage point improvement year over year on a pro forma basis despite a 55.5 percent increase in pro forma fuel cost per gallon • Adjusted loss before income taxes of $1.7M, yielding an adjusted pre-tax margin of (0.2) percent • Adjusted EBITDA of $110.9M, yielding an adjusted EBITDA margin of 11.5 percent, a 1.6 percentage point improvement over the prior year on a pro forma basis • Adjusted operating CASM, excluding fuel, special charges, and cargo expensesof 9.23 ¢, up 9.1 percent year over year on a pro forma basis • $42.1M in total Allegiant Air co-brand credit card remuneration received, up 23.6 percent year over year (excluding Sun Country) • Named 2026's Best Low-Cost Airline in North America by Skytrax, the international air transport rating organization, marking the third consecutive year Allegiant has won the award • Earned the top spot in USA TODAY's 10Best 2026 Readers' Choice Awards, being recognized as Number 1 for Best Airline Credit Card and Best Frequent Flyer Program • In October, exercised six Boeing 737-8 aircraft purchase options for delivery in 2028, bringing total firm aircraft orders under the Boeing purchase agreement to 56, of which 22 have been delivered to date, with 74 options remaining On a "pro forma basis" means that we are comparing 2026 actual results to pro forma 2025 results calculated as if the acquisition of Sun Country and the sale of Sunseeker Resort were completed on January 1, 2025. See pro forma numbers in our Form 8-K filed with the SEC on November 2, 2026. Balance Sheet, Cash and Liquidity • Consolidated total available liquidity at September 30, 2026 was $1.1B, which included $864.7M in cash and investments and $250.0M in undrawn revolving credit facilities ◦ Does not include $336.8M of undrawn aircraft and PDP financing commitments • $211.0M of cash used in operations during third quarter 2026, including $267.0M pilot retention bonus payment • Consolidated total debt at September 30, 2026 was $2.9B • Net debt at September 30, 2026 was $2.1B • Consolidated debt principal payments of $86.9M during the quarter • Consolidated air traffic liability at September 30, 2026 was $632.5M Capital Expenditures • Third quarter consolidated capital expenditures of $135.7M, which included $114.6M for aircraft-related capital expenditures and $21.1M in other capital expenditures • Third quarter consolidated deferred heavy maintenance expenditures were $19.6M (1)(2) (1)(2)(3) (1)(2) (2) 3
Page 5
Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures. In 2026 and 2025, we recognized certain expenses as special charges related to both: (1) Airline activities including accelerated depreciation on airframes identified for early retirement, accelerated amortization of software identified for redevelopment, costs related to the Sun Country Airlines acquisition, organizational restructuring, and a credit loss on a note receivable, and (2) Sunseeker Resort including costs related to the sale of the resort and weather-related damages (net of recoveries). For a listing of these charges, see the special charges table in Appendix A of this earnings release. The adjusted numbers in this earnings release exclude the effect of these special charges. In third quarter 2026, the Company incurred gains on debt extinguishment related to prepayment of debt facilities. These are added back or subtracted out, where appropriate, in our adjusted results. (1) (2) (3) 4
Page 6
Guidance, subject to revision Certain forward-looking financial information in the following tables is not presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”). Non-GAAP financial figures may be useful to stakeholders, but should not be considered a substitute for GAAP figures. In reliance on the 'unreasonable efforts' exception in Item 10(e)(1)(i)(B) of SEC Regulation S-K, a reconciliation to the most comparable GAAP financial measure is not provided for adjusted earnings per share and adjusted operating margin in the table below. The Company is not able to reconcile these Non-GAAP financial figures without unreasonable effort because the special charge adjustments will not be known until the end of the indicated future periods and any range of projected values would be too broad to be meaningful. As a result, this information would not be significant to investors. The below guidance is for the combined Allegiant and Sun Country entity. Fourth quarter 2026 guidance System ASMs - year-over-year change ~Flat Scheduled service ASMs - year-over-year change ~+1.7% Fuel cost per gallon $ 4.75 Adjusted operating margin 6.0% - 7.0% Interest expense(millions) ~$50 Capitalized interest (millions) (~$6) Interest income (millions) ~$11 Assumed tax rate 23 % Weighted average shares outstanding (millions) 27.3 Adjusted earnings per share $1.00 - $1.50 Full-year 2026 guidance Weighted average shares outstanding (millions) 23.9 Adjusted earnings per share >$6.00 Full-year CAPEX (excluding Sun Country CAPEX prior to the acquisition) Aircraft-related capital expenditures (millions) $640 to $660 Capitalized deferred heavy maintenance (millions) $75 to $85 Other capital expenditures (millions) $115 to $125 Recurring principal payments(millions) (full year) (excluding Sun Country principalpayments prior to the acquisition) $205 to $215 (5) (5) (1) (2) (2) (1) (1) (3) (4) (1) Denotes a non-GAAP financial measure for which no reconciliation to GAAP is provided as described above. (2) Includes capitalized interest related to pre-delivery deposits on new aircraft. (3) Aircraft-related capital expenditures include the purchase of aircraft, engines, induction costs, and pre-delivery deposits. This amount excludes capitalized interest related to pre-delivery deposits on new aircraft. (4) Does not include repayment of pre-delivery deposit debt facilities due on delivery of aircraft (5) Year-over-year change is calculated relative to prior-year combined entity pro forma available seat miles (ASMs) for the three months ended December 31, 2025 of 7,027,800 (in thousands) for total system and 6,427,000 (in thousands) for scheduled service 5
Page 7
Aircraft Fleet Plan by End of Period Aircraft 3Q26 YE26 Passenger service Airbus A320 76 74 Airbus A319 27 26 Boeing 737 MAX-8 21 25 Boeing 737-800 (Sun Country) 43 43 Boeing 737-900ER (Sun Country) 3 3 Total aircraft in passenger service 170 171 Boeing 737-800F (Sun Country - Cargo) 22 22 Total 192 193 The table above is management's best estimate and is provided based on the Company’s current plans and is subject to change. The numbers include aircraft expected to be in service at the end of each period and exclude both aircraft that we expect to take delivery of but not to be placed in service until a subsequent period and aircraft in temporary storage. The numbers exclude three aircraft owned by the Company but on operating lease to other carriers. 6
Page 8
Allegiant Travel Company will host a conference call with analysts at 4:30 p.m. ET Wednesday, November 4, 2026 to discuss its third quarter 2026 financial results. A live broadcast of the conference call will be available via the Company’s Investor Relations website homepage at http://ir.allegiantair.com. The webcast will also be archived in the “Events & Presentations” section of the website. Allegiant Travel Company Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Through Allegiant Air and Sun Country Airlines, the Company serves approximately 22 million annual customers across scheduled passenger, charter and cargo operations. Together, the airlines operate more than 650 routes serving nearly 175 cities throughout the United States and select international destinations. Allegiant is committed to providing affordable travel options, operational excellence and long-term value for customers, employees, communities and shareholders. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF. Media Inquiries: mediarelations@allegiantair.com Investor Inquiries: ir@allegiantair.com Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements are only estimates or predictions based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include our statements regarding future airline operations, revenue, expenses and earnings, available seat mile growth, expected capital expenditures, the cost of fuel, the timing of aircraft acquisitions and retirements, the number of contracted aircraft to be placed in service in the future, our ability to consummate announced aircraft transactions, estimated tax rate, as well as other information concerning future results of operations, business strategies, financing plans, industry environment and potential growth opportunities. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believe," "expect," “guidance,” "anticipate," "intend," "plan," "estimate", “project”, “hope” or similar expressions. Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in the forward-looking statements. Important risk factors that could cause our results to differ materially from those expressed in the forward-looking statements generally may be found in our periodic reports filed with the Securities and Exchange Commission at www.sec.gov. These risk factors include, without limitation, regulatory reviews of, and production limits on, Boeing impacting our aircraft delivery schedule, an accident involving, or problems with, our aircraft, public perception of our safety, our reliance on our automated systems, our reliance on Boeing to deliver aircraft under contract to us on a timely basis, risk of breach of security of personal data, volatility of fuel costs, labor issues and costs, the ability to obtain regulatory approvals as needed in connection with our fleet and network, the effect of economic conditions on leisure travel, debt covenants and balances, the impact of government regulations on the airline industry, the ability to finance aircraft to be acquired, the ability to obtain necessary government approvals to offer international service, terrorist attacks, risks inherent to airlines, our competitive environment, our reliance on third parties who provide facilities or services to us, the impact of the possible loss of key personnel, economic and other conditions in markets in which we operate, increases in maintenance costs and availability of outside maintenance contractors to perform needed work on our aircraft on a timely basis and at acceptable rates, cyclical and seasonal fluctuations in our operating results, the perceived acceptability of our environmental, social and governance efforts, the risk that the combined company after the Sun Country acquisition will not realize expected benefits, cost savings, accretion, synergies and/or growth from the Sun Country acquisition or that any of the foregoing may take longer to realize or be more costly to achieve than expected, the diversion of management's attention and time from ongoing business operations and opportunities to integration matters, the risk that the integration of Sun Country's operations will be materially delayed or will be more costly or difficult than expected or that Allegiant is otherwise unable to successfully integrate Sun Country's businesses into the combined company, and reputational risk and potential adverse reactions of Allegiant's or Sun Country's customers, suppliers, employees, labor unions or other business partners, including those resulting from the completion of the Sun Country acquisition and the integration of the companies. Any forward-looking statements are based on information available to us today and we undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise. Detailed financial information follows: 7
Page 9
Allegiant Travel Company Consolidated Statements of Loss (in thousands, except per share amounts) (Unaudited) Three Months Ended September 30,Percent Change 2026 2025 YoY OPERATING REVENUES: Passenger $ 777,448 $ 494,144 57.3 % Third party products 44,616 39,397 13.2 Fixed fee contracts 83,646 18,852 343.7 Cargo 52,393 — NM Other 3,456 9,539 NM Total operating revenues 961,559 561,932 71.1 OPERATING EXPENSES: Aircraft fuel 293,575 151,254 94.1 Salaries and benefits 287,387 196,394 46.3 Station operations 113,986 71,390 59.7 Depreciation and amortization 81,172 58,952 37.7 Maintenance and repairs 59,784 39,908 49.8 Sales and marketing 35,810 23,040 55.4 Aircraft rent 7,739 11,096 (30.3) Other 52,267 33,615 55.5 Special charges, net of recoveries 19,084 3,473 NM Total operating expenses 950,804 589,122 61.4 OPERATING INCOME (LOSS) 10,755 (27,190) NM OTHER (INCOME) EXPENSES: Interest income (9,673) (10,108) (4.3) Interest expense 46,555 38,116 22.1 Capitalized interest (6,189) (3,166) 95.5 Other, net 112 122 (8.2) Total other expenses 30,805 24,964 23.4 LOSS BEFORE INCOME TAXES (20,050) (52,154) 61.6 INCOME TAX BENEFIT (4,872) (8,580) 43.2 NET LOSS $ (15,178)$ (43,574) 65.2 Loss per share to common shareholders: Basic ($0.56) ($2.41) 76.8 Diluted ($0.56) ($2.41) 76.8 Shares used for computation: Basic 26,990 18,050 49.5 Diluted 26,990 18,050 49.5 Prior year figures are not comparable because prior year results do not include the financial performance of Sun Country but do include the financial performance of Sunseeker Resort, which was sold on September 4, 2025. The Company's unvested restricted stock awards are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock. The basic and diluted earnings per share calculations for the periods presented reflect the two-class method mandated by ASC Topic 260, "Earnings Per Share." The two-class method adjusts both the net income and the shares used in the calculation. Application of the two-class method did not have a significant impact on the basic and diluted earnings per share for the periods presented. The number of shares used for the earnings per share calculations are significantly impacted by the issuance of shares in connection with the Sun Country acquisition. Not meaningful (1) (2)(3) (1) (2) (3) NM 8
Page 10
Allegiant Travel Company Segment Profit or Loss (in thousands) (Unaudited) Three Months Ended September 30, 2026Three Months Ended September 30, 2025 Allegiant Sun CountryConsolidated Allegiant Sunseeker Consolidated OPERATING REVENUES: Passenger $ 620,668 $ 156,780 $ 777,448 $ 494,144 $ — $ 494,144 Third party products 42,292 2,324 44,616 39,397 — 39,397 Fixed fee contracts 20,627 63,019 83,646 18,852 — 18,852 Cargo — 52,393 52,393 — — — Other 174 3,282 3,456 181 9,358 9,539 Total operating revenues$ 683,761 $ 277,798 $ 961,559 $ 552,574 $ 9,358 $ 561,932 OPERATING EXPENSES: Aircraft fuel 226,192 67,383 293,575 151,254 — 151,254 Salaries and benefits 188,979 98,408 287,387 190,491 5,903 196,394 Station operations 78,255 35,731 113,986 71,390 — 71,390 Depreciation and amortization 57,561 23,611 81,172 58,952 — 58,952 Maintenance and repairs 39,211 20,573 59,784 39,908 — 39,908 Sales and marketing 27,632 8,178 35,810 22,093 947 23,040 Aircraft rent 7,739 — 7,739 11,096 — 11,096 Other operating expenses 31,531 20,736 52,267 24,684 8,931 33,615 Special charges, net ofrecoveries 11,792 7,292 19,084 2,907 566 3,473 Total operating expenses 668,892 281,912 950,804 572,775 16,347 589,122 OPERATING INCOME (LOSS) 14,869 (4,114) 10,755 (20,201) (6,989) (27,190) OTHER (INCOME) EXPENSES: Interest income (8,472) (1,201) (9,673) (10,108) — (10,108) Interest expense 38,418 8,137 46,555 34,120 3,996 38,116 Capitalized interest (6,189) — (6,189) (3,166) — (3,166) Other non-operating expenses 42 70 112 122 — 122 Total other expenses 23,799 7,006 30,805 20,968 3,996 24,964 LOSS BEFORE INCOME TAXES$ (8,930)$ (11,120)$ (20,050)$ (41,169)$ (10,985)$ (52,154) Segment results for 2025 only are presented for Allegiant and Sunseeker Resort, as Sunseeker Resort was sold in September 2025. Following the acquisition of Sun Country Airlines on May 13, 2026, segment results for 2026 are presented for Allegiant and Sun Country. (1) (1) 9
Page 11
Allegiant Travel Company Airline Operating Statistics (Unaudited) Three Months Ended September 30,PercentChange 2026 2025 YoY AIRLINE OPERATING STATISTICS (CONSOLIDATED) Total system statistics: Passengers 5,707,095 4,629,834 23.3 % Available seat miles (ASMs) (thousands) 6,305,477 4,939,441 27.7 Operating expense per ASM, excluding cargo expenses (CASM)(cents) 14.14 ¢ 11.59 ¢ 22.0 Operating CASM, excluding fuel, special charges, and cargoexpenses (cents) 9.23 ¢ 8.47 ¢ 9.0 Departures 45,747 32,991 38.7 Block hours (including cargo) 109,816 75,466 45.5 Average stage length (miles) 887 850 4.4 Average block hours per aircraft per day (excluding cargo) 6.1 6.6 (7.6) Full-time equivalent employees at end of period 8,210 5,871 39.8 Fuel gallons consumed (thousands) 73,579 59,015 24.7 ASMs per gallon of fuel 85.7 83.7 2.4 Average fuel cost per gallon $ 3.98 $ 2.56 55.5 Scheduled service statistics: Passengers 5,447,166 4,572,081 19.1 Revenue passenger miles (RPMs) (thousands) 5,024,132 4,022,761 24.9 Available seat miles (ASMs) (thousands) 5,796,211 4,769,245 21.5 Load factor 86.7 % 84.3 % 2.4 Departures 36,011 31,656 13.8 Block hours 87,376 72,726 20.1 Average seats per departure 178.1 175.6 1.4 Yield (cents) 8.05 ¢ 4.94 ¢ 63.0 Total passenger revenue per ASM (TRASM) (cents) 14.18 ¢ 11.19 ¢ 26.7 Average fare - scheduled service $ 74.27 $ 43.44 71.0 Average fare - air-related charges $ 68.45 $ 64.64 5.9 Average fare - third party products $ 8.19 $ 8.62 (5.0) Average fare - total $ 150.92 $ 116.70 29.3 Average stage length (miles) 900 856 5.1 Fuel gallons consumed (thousands) 67,765 56,952 19.0 Average fuel cost per gallon $ 3.97 $ 2.55 55.7 Prior year figures are not comparable as third quarter 2026 results include Sun Country, while prior year figures do not. Except load factor, which is percentage point change. Defined as scheduled service revenue divided by revenue passenger miles. Various components of this measurement do not have a direct correlation to ASMs. These figures are provided on a per ASM basis to facilitate comparison with airlines reporting revenues on a per ASM basis. Reflects division of passenger revenue between scheduled service and air-related charges in the Company's booking path. (1) (2) (3) (4) (5) (5) (1) (2) (3) (4) (5) 10
Page 12
Allegiant Travel Company Consolidated Statements of Income (Loss) (in thousands, except per share amounts) (Unaudited) Nine Months Ended September 30,Percent Change 2026 2025 YoY OPERATING REVENUES: Passenger $ 2,271,739 $ 1,728,802 31.4 % Third party products 132,709 108,249 22.6 Fixed fee contracts 147,491 52,123 183.0 Cargo 79,978 — NM Other 5,564 61,216 NM Total operating revenues 2,637,481 1,950,390 35.2 OPERATING EXPENSES: Aircraft fuel 781,485 483,339 61.7 Salaries and benefits 755,790 641,935 17.7 Station operations 286,020 220,143 29.9 Depreciation and amortization 209,806 190,782 10.0 Maintenance and repairs 144,253 111,141 29.8 Sales and marketing 99,205 74,973 32.3 Aircraft rent 22,215 28,038 (20.8) Other 112,916 109,873 2.8 Special charges, net of recoveries 112,818 119,842 (5.9) Total operating expenses 2,524,508 1,980,066 27.5 OPERATING INCOME (LOSS) 112,973 (29,676) NM OTHER (INCOME) EXPENSES: Interest income (27,226) (32,402) (16.0) Interest expense 115,856 114,656 1.0 Capitalized interest (15,417) (14,216) 8.4 Other, net (994) 1,064 NM Total other expenses 72,219 69,102 4.5 INCOME (LOSS) BEFORE INCOME TAXES 40,754 (98,778) NM INCOME TAX EXPENSE (BENEFIT) 18,314 (22,140) NM NET INCOME (LOSS) $ 22,440 $ (76,638) NM Earnings (loss) per share to common shareholders: Basic $0.97 ($4.26) NM Diluted $0.97 ($4.26) NM Shares used for computation: Basic 22,715 18,010 26.1 Diluted 22,872 18,010 27.0 Results include the financial performance of Sun Country only for the period from and after May 13, 2026. Comparability of consolidated figures to prior year performance is significantly impacted by the acquisition of Sun Country as of May 13, 2026, and by the sale of Sunseeker Resort in September 2025. The Company's unvested restricted stock awards are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock. The basic and diluted earnings per share calculations for the periods presented reflect the two-class method mandated by ASC Topic 260, "Earnings Per Share." The two-class method adjusts both the net income and the shares used in the calculation. Application of the two-class method did not have a significant impact on the basic and diluted earnings per share for the periods presented. The number of shares used for the earnings per share calculations are significantly impacted by the issuance of shares in connection with the Sun Country acquisition and the period of time such shares were outstanding. Not meaningful (1) (2)(3) (1) (2) (3) NM 11
Page 13
Allegiant Travel Company Segment Profit or Loss (in thousands) (Unaudited) Nine Months Ended September 30, 2026Nine Months Ended September 30, 2025 Allegiant SunCountry Consolidated Allegiant Sunseeker Consolidated OPERATING REVENUES: Passenger $ 2,009,483 $ 262,256 $ 2,271,739 $ 1,728,802 $ — $ 1,728,802 Third party products 129,110 3,599 132,709 108,249 — 108,249 Fixed fee contracts 53,273 94,218 147,491 52,123 — 52,123 Cargo — 79,978 79,978 — — — Other 533 5,031 5,564 536 60,680 61,216 Total operating revenues$ 2,192,399 $ 445,082 $ 2,637,481 $ 1,889,710 $ 60,680 $ 1,950,390 OPERATING EXPENSES: Aircraft fuel 671,556 109,929 781,485 483,339 — 483,339 Salaries and benefits 608,401 147,389 755,790 614,350 27,585 641,935 Station operations 230,877 55,143 286,020 220,143 — 220,143 Depreciation and amortization174,008 35,798 209,806 183,623 7,159 190,782 Maintenance and repairs 113,777 30,476 144,253 111,141 — 111,141 Sales and marketing 85,693 13,512 99,205 70,583 4,390 74,973 Aircraft rent 22,215 — 22,215 28,038 — 28,038 Other operating expenses 80,725 32,191 112,916 75,790 34,083 109,873 Special charges, net ofrecoveries 79,089 33,729 112,818 18,894 100,948 119,842 Total operating expenses 2,066,341 458,167 2,524,508 1,805,901 174,165 1,980,066 OPERATING INCOME (LOSS) 126,058 (13,085) 112,973 83,809 (113,485) (29,676) OTHER (INCOME) EXPENSES: Interest income (25,279) (1,947) (27,226) (32,402) — (32,402) Interest expense 102,847 13,009 115,856 91,190 23,466 114,656 Capitalized interest (15,417) — (15,417) (14,216) — (14,216) Other non-operating expenses (1,028) 34 (994) 1,064 — 1,064 Total other expenses 61,123 11,096 72,219 45,636 23,466 69,102 INCOME (LOSS) BEFOREINCOME TAXES $ 64,935 $ (24,181)$ 40,754 $ 38,173 $ (136,951)$ (98,778) Segment results for 2025 only are presented for Allegiant and Sunseeker Resort, as Sunseeker Resort was sold in September 2025. Following the acquisition of Sun Country Airlines on May 13, 2026, segment results for 2026 are presented for Allegiant and Sun Country. Results include the financial performance of Sun Country only for the period from and after May 13, 2026. (1) (2) (1) (2) 12
Page 14
Allegiant Travel Company Airline Operating Statistics (Unaudited) Nine Months Ended September 30,PercentChange 2026 2025 YoY AIRLINE OPERATING STATISTICS (CONSOLIDATED) Total system statistics: Passengers 15,889,097 14,208,165 11.8 % Available seat miles (ASMs) (thousands) 17,842,343 16,190,434 10.2 Operating expense per ASM, excluding cargo expenses (CASM)(cents) 13.64 ¢ 11.16 ¢ 22.2 Operating CASM, excluding fuel, special charges, and cargoexpenses (cents) 8.69 ¢ 8.05 ¢ 8.0 Departures 120,150 103,540 16.0 Block hours (including cargo) 293,291 248,086 18.2 Average stage length (miles) 902 891 1.2 Average block hours per aircraft per day (excluding cargo) 6.8 7.3 (6.8) Full-time equivalent employees at end of period 8,210 5,871 39.8 Fuel gallons consumed (thousands) 207,071 191,103 8.4 ASMs per gallon of fuel 86.2 84.7 1.8 Average fuel cost per gallon $ 3.77 $ 2.53 49.0 Scheduled service statistics: Passengers 15,461,480 14,070,680 9.9 Revenue passenger miles (RPMs) (thousands) 14,461,097 12,904,411 12.1 Available seat miles (ASMs) (thousands) 16,884,878 15,703,477 7.5 Load factor 85.6 % 82.2 % 3.4 Departures 103,985 99,845 4.1 Block hours 256,132 240,120 6.7 Average seats per departure 177.1 175.2 1.1 Yield (cents) 8.27 ¢ 5.93 ¢ 39.5 Total passenger revenue per ASM (TRASM) (cents) 14.24 ¢ 11.70 ¢ 21.7 Average fare - scheduled service $ 77.33 $ 54.38 42.2 Average fare - air-related charges $ 69.60 $ 68.49 1.6 Average fare - third party products $ 8.58 $ 7.69 11.6 Average fare - total $ 155.51 $ 130.56 19.1 Average stage length (miles) 913 896 1.9 Fuel gallons consumed (thousands) 195,961 185,197 5.8 Average fuel cost per gallon $ 3.76 $ 2.53 48.6 Prior year figures are not comparable because Sun Country figures are only included in 2026 numbers from May 13, 2026 and not at all in 2025. Except load factor, which is percentage point change. Defined as scheduled service revenue divided by revenue passenger miles. Various components of this measurement do not have a direct correlation to ASMs. These figures are provided on a per ASM basis to facilitate comparison with airlines reporting revenues on a per ASM basis. Reflects division of passenger revenue between scheduled service and air-related charges in the Company's booking path. (1) (2) (3) (4) (5) (5) (1) (2) (3) (4) (5) 13
Page 15
Summary Balance Sheet (in millions) September 30, 2026(unaudited) December 31, 2025 Percent Change Unrestricted cash and investments Cash and cash equivalents $ 339.4 $ 172.7 96.5 % Short-term investments 514.8 633.0 (18.7) Long-term investments 10.5 32.8 (68.0) Total unrestricted cash and investments 864.7 838.5 3.1 Debt Current maturities of long-term debt and finance leaseobligations, net of related costs 371.5 118.1 NM Long-term debt and finance lease obligations, net of currentmaturities and related costs 2,566.5 1,681.5 52.6 Total debt 2,938.0 1,799.6 63.3 Debt, net of unrestricted cash and investments 2,073.3 961.1 115.7 Total Allegiant Travel Company shareholders’ equity 1,765.0 1,052.7 67.7 The December 31, 2025 figures do not include Sun Country as the acquisition did not close until May 13, 2026. EPS Calculation 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 table are in thousands): Three Months Ended September 30,Nine Months Ended September 30, 2026 2025 2026 2025 Basic: Net income (loss) $ (15,178)$ (43,574)$ 22,440 $ (76,638) Less income allocated to participatingsecurities — — (319) — Net income (loss) attributable to commonstock $ (15,178)$ (43,574)$ 22,121 $ (76,638) Earnings (loss) per share, basic $ (0.56) $ (2.41)$ 0.97 $ (4.26) Weighted-average shares outstanding 26,990 18,050 22,715 18,010 Diluted: Net income (loss) $ (15,178)$ (43,574)$ 22,440 $ (76,638) Less income allocated to participatingsecurities — — (317) — Net income (loss) attributable to commonstock $ (15,178)$ (43,574)$ 22,123 $ (76,638) Earnings (loss) per share, diluted $ (0.56) $ (2.41)$ 0.97 $ (4.26) Weighted-average shares outstanding 26,990 18,050 22,715 18,010 Dilutive effect of outstanding stock awards — — 284 — Adjusted weighted-average sharesoutstanding under treasury stock method 26,990 18,050 22,999 18,010 Participating securities excluded under two-class method — — (127) — Adjusted weighted-average sharesoutstanding under two-class method 26,990 18,050 22,872 18,010 The number of shares used for the earnings per share calculations are significantly impacted by the issuance of shares in connection with the Sun Country acquisition and the period of time such shares were outstanding. Dilutive effect of common stock equivalents excluded from the diluted per share calculation is not material. (1) (1) (1) (1)(2) (1) (2) 14
Page 16
Appendix A Non-GAAP Presentation Three and Nine Months Ended September 30, 2026 and 2025 (Unaudited) We present adjusted consolidated operating expense and adjusted consolidated operating income, which exclude special charges related to (i) the impact of losses and insurance recoveries incurred primarily as the result of hurricanes and other insured events at Sunseeker Resort, (ii) other charges related to the sale of Sunseeker, and (iii) the airline special charges listed in the table below. We also present adjusted consolidated interest expense, adjusted consolidated income before income taxes, adjusted consolidated net income, and adjusted consolidated diluted earnings per share, which exclude the special charges described above and gains and losses on extinguishment of debt. We present adjusted airline-only operating expense, adjusted airline-only operating income, adjusted airline-only income before income taxes, adjusted airline-only net income, and adjusted airline-only diluted earnings per share which exclude special charges and other costs related to (i) aircraft accelerated depreciation on early retirement of certain airframes, (ii) accelerated amortization of software identified to be redeveloped, (iii) costs related to the Sun Country acquisition, (iv) a credit loss on a note receivable, and (v) gains and losses on extinguishment of debt. All of the measures described above are non-GAAP financial measures. We believe the presentation of these measures is relevant and useful for investors because it allows them to better gauge the performance of the airlines and to compare our results to other airlines. Management believes the exclusion of these items enhances comparability of financial information between periods. We also present adjusted airline-only CASM, which excludes aircraft fuel expense, special charges, and cargo expenses. Fuel price volatility impacts the comparability of year over year financial performance as do the airline special charges. Cargo expenses are excluded because they do not relate to available seat miles. We believe the adjustments for fuel expense, airline special charges, and cargo expenses allow investors to better understand our non-fuel costs and related performance. Consolidated and airline-only earnings before interest, taxes, depreciation, and amortization ("Consolidated EBITDA" and "Airline EBITDA"), adjusted Consolidated EBITDA, adjusted Airline EBITDA, and estimated adjusted earnings per share, as presented in this press release, are supplemental measures of our performance that are not required by, or presented in accordance with, accounting principles generally accepted in the United States (“GAAP”). These are not measurements of our financial performance under GAAP and should not be considered in isolation or as an alternative to net income or any other performance measures derived in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity. We define “EBITDA” as earnings before interest, taxes, depreciation and amortization. The adjusted EBITDA measures also exclude special charges and gains and losses on the extinguishment of debt. We caution investors that amounts presented in accordance with this definition may not be comparable to similar measures disclosed by other issuers, because not all issuers and analysts calculate EBITDA in the same manner. We use EBITDA and adjusted EBITDA to evaluate our operating performance and liquidity, and these are among the primary measures used by management for planning and forecasting of future periods. We believe these presentations of EBITDA are relevant and useful for investors because they allow investors to view results in a manner similar to the method used by management and make it easier to compare our results with other companies that have different financing and capital structures. EBITDA has important limitations as an analytical tool. These limitations include the following: • EBITDA does not reflect our capital expenditures, future requirements for capital expenditures or contractual commitments to purchase capital equipment; • EBITDA does not reflect interest expense or the cash requirements necessary to service principal or interest payments on our debt; • although depreciation and amortization are non-cash charges, the assets that we currently depreciate and amortize will likely have to be replaced in the future, and EBITDA does not reflect the cash required to fund such replacements; and • other companies in our industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure. Presented below is a quantitative reconciliation of these adjusted numbers (other than the estimated adjusted earnings per share and adjusted operating margin figures) to the most directly comparable GAAP financial performance measure. The SEC has adopted rules (Regulation G) regulating the use of non-GAAP financial measures. Because of our use of non-GAAP financial measures in this press release to supplement our consolidated financial statements presented on a GAAP basis, Regulation G requires us to include in this press release a presentation of the most directly comparable GAAP measures, which are operating expenses, operating income (loss), interest expense, income (loss) before income taxes, net income (loss), and earnings per share, and a reconciliation of the non-GAAP measures to the most comparable GAAP measure. Our utilization of non-GAAP measurements is not meant to be considered in isolation or as a substitute for operating expenses, operating income (loss), interest expense, income (loss) before income taxes, net income (loss), earnings (loss) per share, or other measures of financial performance prepared in accordance with GAAP. Our use of these non-GAAP measures may not be comparable to similarly titled measures employed by other companies in the airline and travel industry. The reconciliation of each of these measures to the most comparable GAAP measure for the periods is indicated below. 15
Page 17
Reconciliation of Non-GAAP Financial Measures Three Months Ended September30, Nine Months Ended September30, 2026 2025 2026 2025 Special Charges (millions) Accelerated depreciation on airframes identified for earlyretirement $ 0.8 $ 2.9 $ 3.5 $ 6.8 Accelerated amortization of software identified forredevelopment 1.3 — 21.2 — Integration costs 18.9 — 83.7 — Organizational restructuring — — — 12.1 Credit loss on note receivable — — 7.0 — Airline special charges 21.0 2.9 115.4 18.9 Sunseeker special charges, net of recoveries (1.9) 0.6 (2.6) 100.9 Consolidated special charges, net of recoveries $ 19.1 $ 3.5 $ 112.8 $ 119.8 Three Months Ended September 30, 2026 Consolidated Allegiant Air Sun Country Reconciliation ofadjusted operatingexpenses, adjustedoperating income (loss),adjusted operatingmargin, adjustedinterest expense, andadjusted income (loss)before income taxes(millions) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) Total operating revenues$ 961.6 $ — $ 961.6 $ 683.8 $ — $ 683.8 $ 277.8 $ — $ 277.8 Total operating expenses950.8 (19.1) 931.7 668.9 (11.8) 657.1 281.9 (7.3) 274.6 Operating income (loss)$ 10.8 $ 19.1 $ 29.8 $ 14.9 $ 11.8 $ 26.7 $ (4.1)$ 7.3 $ 3.2 Operating margin(percent) 1.1 3.1 2.2 3.9 (1.5) 1.1 Interest expense $ 46.6 $ 0.8 $ 47.3 $ 38.4 $ 0.8 $ 39.2 $ 8.1 $ — $ 8.1 INCOME (LOSS)BEFORE INCOMETAXES $ (20.1)$ 18.3 $ (1.7)$ (8.9)$ 11.0 $ 2.1 $ (11.1) $ 7.3 $ (3.8) Three Months Ended September 30, 2025 Consolidated Allegiant Air Sunseeker Reconciliation ofadjusted operatingexpenses, adjustedoperating loss, adjustedoperating margin,adjusted interestexpense, and adjustedloss before incometaxes (millions) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) Total operating revenues$ 561.9 $ — $ 561.9 $ 552.6 $ — $ 552.6 $ 9.4 $ — $ 9.4 Total operating expenses589.1 (3.5) 585.6 572.8 (2.9) 569.9 16.3 (0.6) 15.8 Operating loss $ (27.2)$ 3.5 $ (23.7)$ (20.2)$ 2.9 $ (17.3)$ (7.0)$ 0.6 $ (6.4) Operating margin(percent) (4.8) (4.2) (3.7) (3.1) (74.7) (68.6) Interest expense $ 38.1 $ (1.1)$ 37.0 $ 34.1 $ (1.1)$ 33.0 $ 4.0 $ — $ 4.0 LOSS BEFORE INCOMETAXES $ (52.2)$ 4.6 $ (47.6)$ (41.2)$ 4.0 $ (37.1)$ (11.0) $ 0.6 $ (10.4) (2) (2) (2) (2)(3) (1) (2)(3) (1) (2) (1) (2)(3) (1) (2)(3) (1) (2) (1)
Page 18
16
Page 19
Nine Months Ended September 30, 2026 Consolidated Allegiant Air Sun Country Reconciliation ofadjusted operatingexpenses, adjustedoperating income,adjusted operatingmargin, adjustedinterest expense, andadjusted incomebefore income taxes(millions) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) Total operatingrevenues $2,637.5 $ — $2,637.5 $2,192.4 $ — $2,192.4 $ 445.1 $ — $ 445.1 Total operatingexpenses 2,524.5 (112.8) 2,411.7 2,066.3 (79.1) 1,987.3 458.2 (33.7) 424.4 Operating income(loss) $ 113.0 $ 112.8 $ 225.8 $ 126.1 $ 79.1 $ 205.1 $ (13.1) $ 33.7 $ 20.6 Operating margin(percent) 4.3 8.6 5.7 9.4 (2.9)% 4.6 Interest expense $ 115.9 $ (3.0)$ 112.9 $ 102.8 $ (3.0)$ 99.9 $ 13.0 $ — $ 13.0 INCOME (LOSS)BEFORE INCOMETAXES $ 40.8 $ 115.8 $ 156.5 $ 64.9 $ 82.0 $ 147.0 $ (24.2) $ 33.7 $ 9.5 Nine Months Ended September 30, 2025 Consolidated Allegiant Air Sunseeker Reconciliation ofadjusted operatingexpenses, adjustedoperating income(loss), adjustedoperating margin,adjusted interestexpense, and adjustedincome (loss) beforeincome taxes(millions) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) GAAP Adjustments Adjusted(Non-GAAP) Total operatingrevenues $1,950.4 $ — $1,950.4 $1,889.7 $ — $1,889.7 $ 60.7 $ — $ 60.7 Total operatingexpenses 1,980.1 (119.8) 1,860.2 1,805.9 (18.9) 1,787.0 174.2 (100.9) 73.2 Operating income (loss)$ (29.7)$ 119.8 $ 90.2 $ 83.8 $ 18.9 $ 102.7 $ (113.5)$ 100.9 $ (12.5) Operating margin(percent) (1.5) 4.6 4.4 5.4 NM (20.7) Interest expense $ 114.7 $ (4.5)$ 110.1 $ 91.2 $ (1.1)$ 90.1 $ 23.5 $ (3.4)$ 20.1 INCOME (LOSS)BEFORE INCOMETAXES $ (98.8)$ 124.4 $ 25.6 $ 38.2 $ 20.0 $ 58.2 $ (137.0)$ 104.4 $ (32.6) Three Months Ended September30, Nine Months Ended September 30, 2026 2025 2026 2025 Consolidated EBITDA and adjusted consolidatedEBITDA (millions) Net income (loss) as reported (GAAP) $ (15.2) $ (43.6) $ 22.4 $ (76.6) Interest expense, net 30.7 24.8 73.2 68.0 Income tax expense (4.9) (8.6) 18.3 (22.1) Depreciation and amortization 81.2 59.0 209.8 190.8 Consolidated EBITDA $ 91.8 $ 31.6 $ 323.8 $ 160.0 Special charges, net of recoveries 19.1 3.5 112.8 119.8 Adjusted consolidated EBITDA $ 110.9 $ 35.1 $ 436.6 $ 279.9 Adjusted consolidated EBITDA margin 11.5 % 6.2 % 16.6 % 14.4 % (4) (2)(3) (1) (2)(3) (1) (2) (1) (2)(3) (1) (2)(3) (1) (2)(3) (1) (4) (1) (2) (1)(2) (1)(2)
Page 20
17
Page 21
Three Months Ended September30, 2026 Three Months Ended September30, 2025 Consolidated Amount Per Share Amount Per Share Reconciliation of adjusted consolidated loss per share andadjusted consolidated net loss (millions except share andper share amounts) Net loss as reported (GAAP) $ (15.2) $ (43.6) Less: Net income allocated to participating securities — — Net loss attributable to common stock (GAAP) $ (15.2)$ (0.56)$ (43.6)$ (2.41) Plus (minus): Loss (gain) on extinguishment of debt (0.8) (0.03) 1.1 0.06 Plus: Special charges, net of recoveries 19.1 0.71 3.5 0.19 Plus (minus): Income tax effect of adjustments above (4.0) (0.15) 1.2 0.07 Adjusted net loss $ (0.9) $ (37.7) Less: Adjusted consolidated net income allocated toparticipating securities — — — — Effect of dilutive securities — — Adjusted net income attributable to common stock$ (0.9)$ (0.03)$ (37.7)$ (2.09) Shares used for diluted computation (GAAP) (thousands) 26,990 18,050 Shares used for diluted computation (adjusted) (thousands) 26,990 18,050 Nine Months Ended September30, 2026 Nine Months Ended September30, 2025 Consolidated Amount Per Share Amount Per Share Reconciliation of adjusted consolidated earnings pershare and adjusted consolidated net income (millionsexcept share and per share amounts) Net income (loss) as reported (GAAP) $ 22.4 $ (76.6) Less: Net income allocated to participating securities (0.3) — Net income (loss) attributable to common stock (GAAP)$ 22.1 $ 0.97 $ (76.6)$ (4.26) Plus: Net income allocated to participating securities 0.3 0.01 — — Plus: Loss on extinguishment of debt 3.0 0.13 4.5 0.25 Plus: Special charges, net of recoveries 112.8 4.93 119.8 6.65 Minus: Income tax effect of adjustments above (18.4) (0.81) (29.3) (1.63) Adjusted net income $ 119.8 $ 18.4 Less: Adjusted consolidated net income allocated toparticipating securities (1.7) (0.07) (0.4) (0.02) Effect of dilutive securities — — Adjusted net income attributable to common stock$ 118.1 $ 5.16 $ 18.0 $ 1.00 Shares used for diluted computation (GAAP) (thousands) 22,872 18,010 Shares used for diluted computation (adjusted) (thousands) 22,872 18,061 (3) (2) (1) (1) (6) (6) (3) (2) (1) (1) (6) (6) 18
Page 22
Three Months Ended September30, Nine Months Ended September 30, 2026 2025 2026 2025 Reconciliation of airline operating CASM excludingcargo expenses (millions) Consolidated operating expenses (GAAP) $ 950.8 $ 589.1 $ 2,524.5 $ 1,980.1 Minus: Sunseeker operating expenses — 16.3 — 174.2 Minus: cargo operating expenses 59.1 — 91.5 — Airline operating expenses, excluding cargo expenses891.7 572.8 2,433.0 1,805.9 System available seat miles (millions) 6,305.5 4,939.4 17,842.3 16,190.4 Cost per available seat mile, excluding cargo expenses(cents) 14.14 ¢ 11.59 ¢ 13.64 ¢ 11.16 ¢ Three Months Ended September30, Nine Months Ended September 30, 2026 2025 2026 2025 Reconciliation of airline operating CASM excludingfuel, special charges, and cargo expenses (millions) Consolidated operating expenses (GAAP) $ 950.8 $ 589.1 $ 2,524.5 $ 1,980.1 Minus: Sunseeker operating expenses — 16.3 — 174.2 Airline operating expenses 950.8 572.8 2,524.5 1,805.9 Minus: airline special charges 19.1 2.9 112.8 18.9 Minus: fuel expenses 293.6 151.3 781.5 483.3 Minus: cargo operating expenses, not already included inreductions above 56.1 — 80.1 — Airline operating expenses, excluding fuel, special chargesand cargo expenses $ 582.0 $ 418.6 $ 1,550.1 $ 1,303.7 System available seat miles (millions) 6,305.5 4,939.4 17,842.3 16,190.4 Airline cost per available seat mile excluding fuel, specialcharges, and cargo expenses (cents) 9.23 ¢ 8.47 ¢ 8.69 ¢ 8.05 ¢ Denotes non-GAAP figure. In 2026 and 2025, we recognized certain expenses as special charges related to both: (1) Airline activities including accelerated depreciation on airframes identified for early retirement, accelerated amortization of software identified for redevelopment, costs related to the Sun Country Airlines acquisition, organizational restructuring, and a credit loss on a note receivable, and (2) Sunseeker Resort including costs related to the sale of the resort and weather-related damages (net of recoveries). For a listing of these charges, see the special charges table above. The adjusted numbers in this earnings release exclude the effect of these special charges. In 2026 and 2025, the Company incurred gains and losses on debt extinguishment related to prepayment of debt facilities. These are added back or subtracted out, where appropriate, in our adjusted results. Results include the financial performance of Sun Country only for the period from and after May 13, 2026. Available seat miles do not include cargo. The number of shares used for the earnings per share calculations are significantly impacted by the issuance of shares in connection with the Sun Country acquisition and the period of time such shares were outstanding. * Note that amounts may not recalculate due to rounding (5) (2) (2) (1)(2) (5) (2) (1) (2) (3) (4) (5) (6) 19
Page 23
SUPPLEMENTARY PRO FORMA COMPARATIVE FINANCIAL AND OPERATING INFORMATION (unaudited) We believe that analysis of specific financial and operational results on a pro forma basis provides more meaningful year-over-year comparisons as the pro forma information includes full-period results for both Allegiant Air and Sun Country. The table below provides results comparing the three months ended September 30, 2026 as reported to the three months ended September 30, 2025 on a pro forma basis. Sun Country's financial information has been conformed to reflect Allegiant Travel Company historical financial statement presentation. The pro forma information has been adjusted to exclude the profit and loss of Sunseeker Resort, which was sold in September 2025, and as a result reflects airline-only amounts. This information does not purport to reflect what our financial and operational results would have been had the acquisition of Sun Country or the disposition of Sunseeker Resort been consummated at the beginning of the periods presented. Three Months Ended September 30, (in thousands, except statistical information) 2026 As Reported 2025 Pro Forma Change Passenger $ 777,448 $ 636,850 22.1% Third party products 44,616 42,216 5.7% Fixed fee contracts 83,646 77,525 7.9% Cargo and other 55,849 51,521 8.4% Total operating revenues 961,559 808,112 19.0% Operating expenses, excluding aircraft fuel 657,229 613,916 7.1% Aircraft fuel 293,575 199,872 46.9% Total operating expenses 950,804 813,788 16.8% Operating income (loss) 10,755 (5,676) NM Total other expenses 30,805 27,680 11.3% Loss before income taxes (20,050) (33,356) 39.9% Operating margin 1.1 % (0.7)% 1.8 Adjusted operating margin 3.1 % (0.3)% 3.4 Pro Forma Comparative Operating Statistics Scheduled service RPMs (millions) 5,024.1 5,188.0 (3.2)% Scheduled service ASMs (millions) 5,796.2 6,143.7 (5.7)% Total system ASMs (millions) 6,305.5 6,710.0 (6.0)% Scheduled service TRASM (cents) 14.18 ¢ 11.05 ¢ 28.3% Average fare - scheduled service $ 74.27 $ 49.43 50.3% Average fare - air-related charges $ 68.45 $ 64.85 5.6% Average fare - third party products $ 8.19 $ 7.58 8.0% Average fare - total $ 150.92 $ 121.86 23.8% Fuel gallons consumed (thousands) 73,579 78,064 (5.7)% ASMs per gallon of fuel 85.7 86.0 (0.3)% Load Factor 86.7% 84.4 % 2.3 As provided on Form 8-K filed with the SEC on November 2, 2026 Except operating margin, adjusted operating margin, and load factor which are percentage point change. Denotes a non-GAAP financial measure. Refer to the Reconciliation of Pro Forma Non-GAAP Financial Measures section within this document for further information. Reflects division of passenger revenue between scheduled service and air-related charges in the Company's booking path. (1) (2) (3) (4) (4) (1) (2) (3) (4) 20
Page 24
Pro Forma Comparative CASM Reconciliation Three Months Ended September 30, (in millions) 2026 As Reported 2025 Pro Forma Total operating expenses 950.8 813.8 Less the following components: Special charges, net of recoveries 19.1 3.3 Fuel expenses 293.6 199.9 Cargo expenses, not already included in reductions above 56.1 43.2 Total operating expenses, excluding fuel, special charges, and cargoexpenses 582.0 567.5 System available seat miles 6,305.5 6,710.0 Airline cost per available seat mile excluding fuel, special charges and cargoexpenses (cents) 9.23 ¢ 8.46 ¢ Reconciliation of Pro Forma Non-GAAP Financial Measures Three Months Ended September 30, 2025 As Reported 2025 Pro Forma Allegiant Sun Country Pro FormaAdjustments CondensedCombined ProForma Reconciliation of operating income to adjustedoperating income (millions) Operating income (loss) $ (27.2) $ 9.9 $ 11.6 $ (5.7) Special Items, net 3.5 — (0.2) 3.3 Adjusted operating income (loss) $ (23.7) $ 9.9 $ 11.4 $ (2.4) Adjusted operating margin (4.2)% 3.9 % (0.3)% Reconciliation of pro forma adjusted EBITDA(millions) Net income (loss) as reported $ (43.6) $ 1.6 $ 11.4 $ (30.6) Income taxes (8.6) 0.6 5.3 (2.7) Interest expense, net 24.8 7.7 (5.0) 27.5 Depreciation & amortization 59.0 24.7 (1.1) 82.6 Special charges, net of recoveries 3.5 — (0.2) 3.3 Pro Forma Adjusted EBITDA $ 35.1 $ 34.6 $ 10.4 $ 80.1 Pro Forma Adjusted EBITDA Margin 6.2 % 13.5 % 9.9 % As provided on Form 8-K filed with the SEC on November 2, 2026 (1) (1) (1) 21