Allegiant: 2023 EPS $6.29, 10% margin; pilot union in trusteeship; Boeing MAX deliveries cut to 6 in 2024

Allegiant Travel CO

2023 net earnings of $6.29 per share; 10% operating margin; Sunseeker Resort opened Dec 15 with $30M pre-opening loss.
Pilot union Teamsters Local 2118 placed under emergency trusteeship in March 2024; no substantive contract agreement in three years.
Boeing MAX deliveries now expected at just 6 aircraft in 2024, down from planned 20+; 130 aircraft on order (50 firm + 80 options).
77% of 552 routes have no direct nonstop competition; ASM growth lagged fleet growth—ASMs/aircraft down >20% vs 2019.
Pilot attrition high: hired 524 pilots through 2023 but net increase of only ~100; industry pilot pay up 40%.

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