Allegiant Travel CO 8-K, filed Jun 9, 2026

Allegiant Travel CO (ALGT)

8-K 2026-06-09 For: 2026-06-09

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Added on June 09, 2026

About this 8-K

Allegiant Travel CO filed this 8-K on June 9, 2026.

Items reported

Item 7.01: Regulation FD disclosure
Item 8.01: Other events
Item 9.01: Financial statements and exhibits

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Nevada	001-33166	20-4745737
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1201 North Town Center Drive Las Vegas, NV		89144
(Address of principal executive offices)		(Zip Code)

Exhibit No.	Description of Document

99.1	Unaudited Pro Forma Condensed Combined Financial Information

99.2	Press Release of Allegiant Travel Company, issued June 9, 2026

99.3	Press Release of Allegiant Travel Company, issued June 9, 2026

104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

Date: June 9, 2026	ALLEGIANT TRAVEL COMPANY

	By:	/s/ Robert J. Neal
	Name:	Robert J. Neal
	Title:	President, Chief Financial Officer

	Allegiant (Historical)			Sun Country (Reclassified) (Note 3)			Transaction Accounting Adjustments (Note 5)				Allegiant Pro Forma Combined

CURRENT ASSETS
Cash and cash equivalents	$	283,447			153,729		$	(376,626	)	a	$	60,550
Restricted cash		21,127			18,142			-				39,269
Short-term investments		618,716			66,029			(13,491	)	b		671,254
Accounts receivable		49,683			58,622			-				108,305
Expendable parts, supplies and fuel, net		43,815			15,000			-				58,815
Prepaid expenses and other current assets		50,600			43,914			(396	)	c		94,118
TOTAL CURRENT ASSETS	$	1,067,388		$	355,436		$	(390,513	)		$	1,032,311
Property and equipment, net		3,066,835			928,114			143,443		d		4,138,392
Goodwill		-			222,223			113,350		e		335,573
Long-term investments		31,392			-			13,491		b		44,883
Deferred major maintenance, net		143,634			-			-				143,634
Other intangible assets, net		-			72,219			(6,219	)	f		66,000
Operating lease right-of-use assets, net		60,301			13,589			-				73,890
Deposits and other assets		45,067			92,026			(783	)	c		128,346
								(7,964	)	g
TOTAL ASSETS:	$	4,414,617		$	1,683,607		$	(135,195	)		$	5,963,029
CURRENT LIABILITIES
Accounts payable		75,318			83,573			-				158,891
Accrued liabilities		186,660			72,256			(4,956	)	h		264,859
								10,899		i
Accrued pilot retention bonus		255,984			-			-				255,984
Current operating lease liabilities		10,380			3,685			-				14,065
Air traffic liability		488,801			138,220			-				627,021
Current loyalty program liability		40,119			9,765			-				49,884
Current maturities of long-term debt and finance lease obligations, net		121,346			122,294			-				243,640
TOTAL CURRENT LIABILITIES	$	1,178,608		$	429,793		$	5,943			$	1,614,344
LONG-TERM DEBT AND OTHER NONCURRENT LIABILITIES
Long-term debt and finance lease obligations, net		1,670,488			430,399			-				2,100,887
Deferred income taxes		322,897			46,902			19,976		k		389,775
Noncurrent operating lease liabilities		51,576			12,878			-				64,454
Noncurrent loyalty program liability		36,382			4,604			-				40,986
Other noncurrent liabilities		58,593			99,605			(87,137	)	j		71,061
TOTAL LIABILITIES:	$	3,318,544		$	1,024,181		$	(61,218	)		$	4,281,507
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Common stock, par value $0.001		26			620			(611	)	l		35
Treasury shares, at cost		(682,566	)		(125,881	)		125,881		l		(682,566	)
Additional paid-in capital		774,181			560,680			108,333		l		1,443,194
Accumulated other comprehensive income, net		3,403			(40	)		40		l		3,403
Retained earnings		1,001,029			224,047			(307,620	)	l		917,456
TOTAL EQUITY:	$	1,096,073		$	659,426		$	(73,977	)		$	1,681,522
TOTAL LIABILITIES AND EQUITY:	$	4,414,617		$	1,683,607		$	(135,195	)		$	5,963,029

Allegiant (Historical)	Sun Country (Historical)	Sun Country March 31, 2026 Historical			Reclassification Adjustments				Sun Country March 31, 2026 (Reclassified)

CURRENT ASSETS	CURRENT ASSETS
Cash and cash equivalents	Cash and cash equivalents	$	153,729						$	153,729
Restricted cash	Restricted cash		18,142							18,142
Short-term investments	Investments		66,029							66,029
Accounts receivable	Accounts receivable, net		54,511			4,111		(k)		58,622
Expendable parts, supplies and fuel, net						15,000		(a)		15,000
	Inventory, net		12,183			(12,183	)	(a)		-
Prepaid expenses and other current assets						43,914		(b)		43,914
	Prepaid expenses		20,064			(13,136	)	(b)		-
						(2,817	)	(a)
						(4,111	)	(k)
	Other current assets		7,019			(7,019	)	(b)		-
	Short-term lessor maintenance deposits		23,759			(23,759	)	(b)		-
TOTAL CURRENT ASSETS	TOTAL CURRENT ASSETS	$	355,436			-				355,436

Property and equipment, net						928,114		(c)		928,114
	Aircraft and flight equipment		891,023			(891,023	)	(c)		-
	Aircraft and flight equipment held for operating lease		62,923			(48,798	)	(c)
						(14,125	)	(j)		-
	Ground equipment and leasehold improvements		52,667			(52,667	)	(c)
	Computer hardware and software		25,391			(25,391	)	(c)		-
	Finance lease assets		309,877			(309,877	)	(c)		-
	Rotable parts		31,879			(31,879	)	(c)		-
	Accumulated depreciation & amortization		(431,521	)		431,521		(c)		-
	Total property & equipment, net		942,239			(942,239	)	(c)		-
	Goodwill		222,223							222,223
	Other intangible assets, net		72,219							72,219
Long-term investments
Deferred major maintenance, net
Operating lease right-of-use assets, net	Operating lease right-of-use assets		13,589							13,589
Deposits and other assets						77,901		(d)		92,026
						14,125		(j)
	Aircraft deposits		5,575			(5,575	)	(d)		-
	Long-term lessor maintenance deposits		48,210			(48,210	)	(d)		-
	Other assets		24,116			(24,116	)	(d)		-
TOTAL ASSETS	TOTAL ASSETS	$	1,683,607			-			$	1,683,607

CURRENT LIABILITIES	CURRENT LIABILITIES
Accounts payable	Accounts payable	$	83,573						$	83,573
Accrued liabilities						58,966		(e)		72,256
						13,290		(i)
	Accrued salaries, wages, and benefits		40,849			(40,849	)	(e)		-
	Accrued transportation taxes		18,117			(18,117	)	(e)		-
										-
Accrued pilot retention bonus										-
Current operating lease liabilities	Operating lease obligations		3,685			-				3,685
Air traffic liability	Air traffic liabilities		138,220			-				138,220
Current loyalty program liability	Loyalty program liabilities		9,765			-				9,765
Current maturities of long-term debt and finance lease obligations, net						122,294		(f)		122,294
	Current maturities of long-term debt, net		62,089			(62,089	)	(f)		-
	Finance lease obligations		60,205			(60,205	)	(f)		-
	Other current liabilities		13,290			(13,290	)	(i)		-
TOTAL CURRENT LIABILITIES	TOTAL CURRENT LIABILITIES	$	429,793			-			$	429,793
LONG-TERM DEBT AND OTHER NONCURRENT LIABILITIES	LONG-TERM DEBT AND OTHER NONCURRENT LIABILITIES
Long-term debt and finance lease obligations, net						430,399		(g)		430,399
	Finance lease obligations		185,633			(185,633	)	(g)		-
	Long-term debt, net		244,766			(244,766	)	(g)		-
Deferred income taxes	Deferred tax liability		46,902							46,902
Noncurrent operating lease liabilities	Operating lease obligations		12,878							12,878
Noncurrent loyalty program liability	Loyalty program liabilities		4,604							4,604
Other noncurrent liabilities						99,605		(h)		99,605
	Other long-term liabilities		12,468			(12,468	)	(h)		-
	Income tax receivable agreement liability		87,137			(87,137	)	(h)		-
TOTAL LIABILITIES	TOTAL LIABILITIES	$	1,024,181		$	-			$	1,024,181

COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ EQUITY	SHAREHOLDERS’ EQUITY
Common stock, par value $0.01	Common stock, par value $0.01	$	620						$	620
	Preferred stock with $0.01 par value									-
Treasury shares, at cost	Treasury shares, at cost		(125,881	)						(125,881	)
Additional paid-in capital	Additional paid-in capital		560,680							560,680
Accumulated other comprehensive income, net	Accumulated other comprehensive income		(40	)						(40	)
Retained earnings	Retained earnings		224,047							224,047
TOTAL EQUITY	TOTAL EQUITY		659,426			-				659,426
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,683,607		$	-			$	1,683,607

Allegiant (Historical)	Sun Country (Historical)	Sun Country three months ended March 31, 2026 Historical			Reclassification Adjustments				Sun Country three months ended March 31, 2026 (Reclassified)

OPERATING REVENUES:
Passenger	Passenger	$	285,259		$	(57,209	)	(aa)	$	228,050
Third party products						3,496		(aa)		3,496
Fixed fee contracts						57,245		(aa)		57,245
Resort and other						3,528		(aa)		3,528
	Other		7,018			(7,060	)	(aa)		-
						42		(ff)
	Cargo		46,089			-				46,089
Total operating revenues	Total operating revenue	$	338,366		$	42			$	338,408

OPERATING EXPENSES:
Salaries and benefits	Salaries, wages, and benefits		104,191							104,191
Aircraft fuel	Aircraft fuel		72,901							72,901
Station operations						28,183		(bb)		28,183
	Ground handling		10,461			(10,461	)	(bb)		-
	Landing fees and airport rent		17,722			(17,722	)	(bb)		-
Depreciation and amortization	Depreciation and amortization		25,157			42		(ff)		25,199
Maintenance and repairs	Maintenance		20,423							20,423
Sales and marketing	Sales and marketing		10,092							10,092
Aircraft lease rentals										-
Other						30,743		(dd)		30,743
	Other operating, net		30,743			(30,743	)	(dd)		-
Special charges, net of recoveries						9,799		(cc)		9,799
	Special items, net		9,799			(9,799	)	(cc)		-
Total operating expenses	Total operating expenses	$	301,489		$	42				301,531
OPERATING INCOME (LOSS)	Operating income		36,877			-				36,877

OTHER (INCOME) EXPENSES:	Non-operating income (expense), net:
Interest income	Interest income		(2,235	)						(2,235	)
Interest expense	Interest expense		8,851			387		(ee)		9,238
Capitalized interest						(387	)	(ee)		(387	)
Other, net	Other, net		(2	)						(2	)
Total other expenses	Total non-operating expense, net	$	6,614			-			$	6,614
INCOME BEFORE INCOME TAXES	Income before income tax	$	30,263			-			$	30,263
INCOME TAX PROVISION	Income tax expense		6,157							6,157
NET INCOME	NET INCOME	$	24,106			-			$	24,106

(in thousands)	Passenger			Third Party Products		Fixed Fee Contracts		Resort & Other		Other
Historical Sun Country Balance	$	285,259								$	7,018
Reclassification of co-brand credit card, land & hotel, and partnership marketing revenue					3,496						(3.496	)
Reclassification of charter revenue		(57,245	)				57,245
Reclassification of aircraft lease revenue									3,528		(3,528	)
Reclassification of partnership and guaranteed revenue		36									(36	)
Reclassification of other revenue											42
Total reclassification adjustments		(57,209	)		3,496		57,245		3,528		(7,018	)
Reclassified revenue balance		228,050			3,496		57,245		3,528		-

Allegiant (Historical)	Sun Country (Historical)	Sun Country Year ended December 31, 2025 Historical			Reclassification Adjustments				Sun Country Year ended December 31, 2025 (Reclassified)

OPERATING REVENUES:
Passenger	Passenger	$	923,129		$	(223,278	)	(aaa)	$	699,851
Third party products						11,959		(aaa)		11,959
Fixed fee contracts						224,227		(aaa)		224,227
Resort and other						36,282		(aaa)		36,282
	Other		48,613			(49,190	)	(aaa)		-
						577		(fff)
	Cargo		155,027							155,027
Total operating revenues	Total operating revenue	$	1,126,769		$	577			$	1,127,346

OPERATING EXPENSES:
Salaries and benefits	Salaries, wages, and benefits	$	372,597						$	372,597
Aircraft fuel	Aircraft fuel		213,480							213,480
Station operations						109,462		(bbb)		109,462
	Ground handling		44,701			(44,701	)	(bbb)		-
	Landing fees and airport rent		64,761			(64,761	)	(bbb)		-
Depreciation and amortization	Depreciation and amortization		98,878			577		(fff)		99,455
Maintenance and repairs	Maintenance		80,349							80,349
Sales and marketing	Sales and marketing		33,300							33,300
Aircraft lease rentals										-
Other						116,244		(ddd)		116,244
	Other operating, net		116,244			(116,244	)	(ddd)		-
Special charges, net of recoveries						1,886		(ccc)		1,886
	Special items, net		1,886			(1,886	)	(ccc)		-
Total operating expenses	Total operating expenses	$	1,026,196		$	577			$	1,026,773
OPERATING INCOME	Operating income	$	100,573			-			$	100,573

OTHER (INCOME) EXPENSES:	Non-operating income (expense), net:
Interest income	Interest income	$	(6,973	)					$	(6,973	)
Interest expense	Interest expense		36,861			341		(eee)		37,202
Capitalized interest						(341	)	(eee)		(341	)
Other, net	Other, net		474							474
Total other expenses	Total non-operating expense, net	$	30,362			-			$	30,362
INCOME BEFORE INCOME TAXES	Income before income tax	$	70,211			-			$	70,211
INCOME TAX PROVISION (BENEFIT)	Income tax expense		17,402							17,402
NET INCOME	NET INCOME	$	52,809			-			$	52,809

(in thousands, except exchange ratio, share price, and per share data)	Amount
Shares of Sun Country Common Stock ⁽¹⁾		54,208
Exchange ratio		0.1557
Shares of Allegiant Common Stock to be issued		8,440
Allegiant Common Stock to be issued to non-employee holders ⁽³⁾		11
Allegiant closing share price ⁽²⁾		75.21
Total Stock Consideration per the Merger Agreement		635,651
Shares of Sun Country Common Stock ⁽¹⁾		54,208
Cash Consideration per share		4.10
Cash Consideration to be paid including cash consideration for fractional shares		222,265
Cash paid to non-employee holders ⁽³⁾		303
Total Cash Consideration per the Merger Agreement		222,568
Total Merger Consideration per the Merger Agreement		858,219
Cash paid to Amazon Holder ⁽⁴⁾		3,932
Value of Allegiant Common Stock issued to Amazon Holder ⁽⁴⁾		12,253
Repayment of Sun Country’s outstanding TRA Liability ⁽⁵⁾		80,461
Pre-combination value of replaced and accelerated Sun Country equity awards ⁽⁶⁾		21,117
Preliminary consideration transferred		975,982

(in thousands)	Preliminary Fair Value
Total preliminary Merger Consideration	$	975,982
Assets
Cash and cash equivalents	$	153,729
Restricted cash		18,142
Short-term investments		52,538
Accounts receivable		58,622
Expendable parts, supplies and fuel, net		15,000
Prepaid expenses and other current assets		43,518
Property and equipment, net		1,071,557
Other Intangible Assets, net		66,000
Long-term investments		13,491
Operating lease right-of-use assets, net		13,589
Deposits and other assets		91,243
Total assets		1,597,429
Liabilities
Accounts payable	$	83,573
Accrued liabilities		72,256
Current operating lease liabilities		3,685
Air traffic liability		138,220
Current loyalty program liability		9,765
Current maturities of long-term debt and finance lease obligations, net		122,294
Long-term debt and finance lease obligations, net		430,399
Deferred income taxes		66,878
Noncurrent operating lease liabilities		12,878
Noncurrent loyalty program liability		4,604
Other noncurrent liabilities		12,468
Total liabilities		957,020
Net assets		640,409
Goodwill		335,573

(in thousands)	Common Stock Outstanding			Treasury Shares		Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income
Elimination of historical Sun Country’s equity		(620	)		125,881		(560,680	)		(224,047	)		40
Issuance of Allegiant Common Stock in connection with the Mergers (Note 4)		9					669,013
Elimination of contract asset attributed to Sun Country Warrant (Note 5(g))										(7,964	)
Estimated transaction costs (Note 5(h), 5(s))										(59,322	)
Change-in-Control Payments (Note 5(a), 5(i), 5(n))										(16,287	)
Total pro forma adjustments	$	(611	)	$	125,881	$	108,333		$	(307,620	)	$	40

(in thousands)	Preliminary Fair Value			Estimated Useful Life (Years)	For the three months ended March 31, 2026			For the year ended December 31, 2025
Flight equipment ⁽¹⁾	$	1,020,814		10 years	$	16,320		$	65,282
Computer hardware and software		12,949		3 years		1,079			4,316
Land and buildings/leasehold improvements		8,283		10 years		254			1,017
Other property and equipment		29,511		6-8 years		1,054			4,216
Total property and equipment, net at pro forma fair value	$	1,071,557			$	18,707		$	74,831
Less: Sun Country historical property and equipment, net and depreciation expense	$	(928,114	)		$	(24,157	)	$	(94,878	)
Total pro forma adjustments to depreciation expense	$	143,443			$	(5,450	)	$	(20,047	)

(in thousands)	Preliminary Fair Value			Estimated Useful Life	For the three months ended March 31, 2026			For the year ended December 31, 2025
Tradename	$	17,000		2-3 years	$	1,700		$	6,800
Co-Branding / Marketing Agreement		11,000		2-3 years		1,100			4,400
Customer relationships - Passengers		17,000		4-7 years		773			3,091
Customer relationships - Cargo		21,000		5-9 years		750			3,000
Total other intangible assets at pro forma fair value	$	66,000			$	4,323		$	17,291
Less: Sun Country historical other intangible assets, net and amortization expense	$	(72,219	)		$	(1,042	)	$	(4,577	)
Total pro forma adjustments to amortization expense	$	(6,219	)		$	3,281		$	12,714

(In thousands, except per share data)	For the three months ended March 31, 2026		For the year ended December 31, 2025
Numerator (basic and diluted):
Pro forma net income attributable to common shares	$	72,424	$	(52,175	)

Denominator for Basic
Historical weighted-average number of common shares outstanding		18,207		18,050
Shares of Allegiant’s common stock issued as consideration transferred		8,452		8,452
Sun Country’s equity awards converted to Allegiant Common Stock		422		422
Shares of Allegiant ‘s common stock issued to Amazon Holder		149		149
Total weighted average shares outstanding (basic)		27,230		27,073

Denominator for Diluted
Historical weighted-average number of common shares outstanding		18,219		18,050
Shares of Allegiant’s common stock issued as consideration transferred		8,452		8,452
Sun Country’s equity awards converted to Allegiant Common Stock		422		422
Shares of Allegiant’s common stock issued to Amazon Holder		149		149
Replacement of Sun Country’s equity awards and options		62		-
Total weighted average shares outstanding (diluted)		27,304		27,073

Pro forma earnings (loss) per share:
Basic	$	2.66	$	(1.93	)
Diluted	$	2.65	$	(1.93	)

CUSIP No.		Title of Security		Outstanding Principal Amount				Tender Offer Consideration ⁽¹⁾				Early Tender Premium ⁽²⁾				Total Consideration ⁽³⁾
144A: 01748X AD4 Reg S: U0177P AC2		7.250% Senior Secured Notes due 2027		$	403,009,000			$	955.00			$	50.00				1,005.00