secwatch.observer — SEC 8-K summary
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Issuer:     Allegiant Travel CO (ALGT)
CIK:        0001362468
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0001362468-24-000025
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1362468/000136246824000025/0001362468-24-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1362468/000136246824000025/algt-20240510.htm
  HTML page:      https://secwatch.observer/filing/0001362468-24-000025

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