Allegiant Travel Company (ALGT): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique de l'Allegiant Travel Company, un franc-tireur de l'industrie du transport aérien à petit budget qui a révolutionné les voyages de loisir en ciblant les marchés mal desservis avec un modèle commercial innovant. En combinant magistralement les voyages aériens abordables, des routes directes vers des destinations de gemmes cachées et des forfaits de vacances complets, Allegiant a creusé un créneau unique qui attire les voyageurs soucieux du budget à la recherche d'une valeur maximale sans compromettre l'expérience. Leur toile de modèle commercial révèle une approche méticuleusement conçue qui transforme l'économie des compagnies aériennes traditionnelles en une stratégie maigre et centrée sur le client qui a propulsé la croissance et la différenciation du marché remarquables de l'entreprise.

ALLEGIANT Travel Company (ALGT) - Modèle d'entreprise: partenariats clés

Fabricants d'avions

Allegiant exploite principalement une flotte d'avions Airbus avec les détails spécifiques suivants:

Type d'avion	Nombre d'avions	Année d'acquisition
Airbus A320	93	2013-2022
Airbus A321	37	2018-2023

Autorités de l'aéroport et services de manutention au sol

Allegiant opère dans 120 aéroports à travers les États-Unis, avec des partenariats clés, notamment:

• Aéroport international de McCarran (Las Vegas)
• Aéroport international d'Orlando Sanford
• Aéroport de la passerelle Phoenix-Mesa

Partenaires de l'hôtel et du complexe

Les partenariats de vacances Allegiant comprennent:

Catégorie de partenaire	Nombre de partenaires	Revenus annuels des forfaits
Chaînes d'hôtel	87	214 millions de dollars
Réseaux de villégiature	42	96 millions de dollars

Partners du programme de carte de crédit et de fidélité

Détails du partenariat de carte de crédit allaictants:

• Partner de banque: Synchrony Bank
• Type de carte: Allegiant World Mastercard
• Tiède de carte annuelle: 125 000
• Revenu du programme de fidélité: 47,3 millions de dollars en 2023

ALLANGIANT VORFORE Company (ALGT) - Modèle d'entreprise: Activités clés

Planification de la route de voyage de loisirs à faible coût

Au quatrième trimestre 2023, Allegiant dessert 129 destinations à travers les États-Unis. La société exploite 127 itinéraires en mettant l'accent sur la connexion des marchés secondaires aux destinations de loisirs.

Métrique d'itinéraire	2023 données
Destinations totales	129
Itinéraires actifs	127
Focus du marché primaire	Voyages de loisirs

Entretien des avions et gestion de la flotte

La flotte d'Allegiant se compose de 133 avions Airbus au 31 décembre 2023.

• Composition de la flotte: 93 avions A320
• Composition de la flotte: 40 A319 Aircraft
• Âge moyen de la flotte: 12,4 ans

Métrique de maintenance	Valeur 2023
Avion total	133
Dépenses de maintenance annuelles	87,3 millions de dollars

Ventes de billets directs via des plateformes en ligne

En 2023, Allegiant a généré 2,1 milliards de dollars de revenus de passagers, avec 84% des réservations achevées via des canaux numériques.

Canal de vente	Pourcentage
Réservations en ligne	84%
Centre d'appel	12%
Agents de voyage	4%

Développement et marketing des forfaits de vacances

Le segment de vacances Allegiant a généré 367,2 millions de dollars de revenus pour l'exercice 2023.

• Packages de vacances totaux vendus: 276 000
• Valeur moyenne du package: 1 330 $
• Destinations primaires: Las Vegas, Orlando, Phoenix

Métrique du segment de vacances	2023 données
Revenus totaux	367,2 millions de dollars
Dépenses de marketing	42,5 millions de dollars

ALLEGIANT Travel Company (ALGT) - Modèle d'entreprise: Ressources clés

Flotte d'avions économes en carburant

Depuis le quatrième trimestre 2023, Allegiant Air exploite une flotte de 119 avions, composée principalement de modèles Airbus A320 et A321. L'âge moyen de la flotte est d'environ 12,4 ans.

Type d'avion	Nombre d'avions	Capacité de passagers
Airbus A320	86	180 passagers
Airbus A321	33	220 passagers

Emplacements stratégiques des centres d'aéroport

Allegiant opère dans 132 aéroports des États-Unis, en mettant principalement l'accent sur les marchés secondaires.

• Las Vegas, Nevada (siège social et centre primaire)
• Orlando, Floride
• Phoenix, Arizona

Technologie de réservation et de réservation propriétaire

Allegiant a investi 34,7 millions de dollars dans la technologie et les infrastructures numériques en 2023.

Investissement technologique	Montant
Développement de plate-forme numérique	21,3 millions de dollars
Mises à niveau du système de réservation	13,4 millions de dollars

Solide reconnaissance de la marque sur le marché des voyages à petit budget

La valeur de la marque d'Allegiant est estimée à 425 millions de dollars en 2023, avec 5,2 millions de voyageurs de loisirs actifs.

• Part de marché dans le segment des compagnies aériennes à budget: 3,7%
• Programme de fidélisation de la clientèle: 2,1 millions de membres
• Revenu annuel: 2,24 milliards de dollars (2023)

ALLANGIANT VORFORY Company (ALGT) - Modèle d'entreprise: Propositions de valeur

Voyage aérien abordable vers des destinations de loisir

Au quatrième trimestre 2023, le tarif à sens unique d'Allegiant était de 53 $, nettement inférieur à celui des concurrents de l'industrie. L'entreprise a servi 134 itinéraires sur 50 destinations, ciblant principalement les voyageurs de loisirs à la recherche d'options de voyage rentables.

Métrique	Valeur
Tarif à sens unique moyen	$53
Itinéraires totaux	134
Destinations totales	50

Vols directs vers les marchés mal desservis

Allegiant se concentre sur la connexion des villes secondaires aux destinations de loisirs populaires, réduisant la complexité des voyages pour les passagers.

• 70% des itinéraires relient les petites zones métropolitaines
• Focus primaire sur les marchés avec un service aérien commercial limité
• Opère dans 29 États à travers les États-Unis

Forfaits de voyage groupés avec hébergement

En 2023, les vacances Allegiant ont généré 186,7 millions de dollars de revenus, ce qui représente 8,2% du total des revenus de l'entreprise.

Composant de package	Prix ​​typique
Flight + forfait d'hôtel	À partir de 199 $
Vol + location de voitures	À partir de 159 $
Forme de voyage complet	À partir de 299 $

Prix ​​flexibles et options de service auxiliaires

Les revenus auxiliaires par passager ont atteint 33,14 $ en 2023, démontrant l'efficacité du modèle de service à la carte d'Allegiant.

• Frais de bagages: 20 $ - 50 $ par sac
• Frais de sélection des sièges: 10 $ - 25 $
• En pension prioritaire: 7 $ - 15 $
• Assurance voyage: 29 $ - 59 $

Sournoirie auxiliaire	Revenus de 2023
Frais de bagages	127,3 millions de dollars
Sélection des sièges	84,6 millions de dollars
Extras de voyage	53,2 millions de dollars

ALLANGIANT Travel Company (ALGT) - Modèle d'entreprise: relations avec les clients

Plates-formes de réservation numérique en libre-service

Allegiant Travel Company propose une réservation en ligne via son site Web Allegiant.com et l'application mobile. Au Q4 2023, la plate-forme numérique traitée approximativement 68% du total des réservations.

Plate-forme numérique	Pourcentage de réservation	Valeur de transaction moyenne
Site web	52%	$237
Application mobile	16%	$212

Programme de fidélité (récompenses allways)

Le programme de fidélité d'Allegiant présente les mesures suivantes à partir de 2024:

• Adhésion totale: 3,2 millions de membres actifs
• Taux de rachat des points moyens: 42%
• Taux client répété grâce au programme de fidélité: 27%

Marketing par e-mail personnalisé

La stratégie de marketing par e-mail d'Allegiant génère un engagement important:

Email Campagne Métrique	Valeur
Destinataires de courriels mensuels	1,8 million
Taux d'ouverture	22.4%
Taux de clics	7.6%

Support client via plusieurs canaux

Les canaux de support client et les mesures de performance comprennent:

• Prise en charge du téléphone: temps d'attente moyen 7,2 minutes
• Chat en direct: temps de réponse en moins de 3 minutes
• Taux de réponse des médias sociaux: 94% dans les 4 heures

Canal de support	Volume mensuel	Évaluation de satisfaction du client
Support téléphonique	126 000 appels	86%
Chat en direct	45 000 interactions	91%
Assistance par e-mail	38 000 billets	83%

ALLEGIANT Travel Company (ALGT) - Modèle d'entreprise: canaux

Site Web de l'entreprise

Allegiant.com sert de canal de réservation direct principal, traitant environ 85% des ventes de billets directes de l'entreprise. Le site Web gère en moyenne 2,3 millions de visiteurs uniques par mois au quatrième trimestre 2023.

Métrique du site Web	Valeur
Visiteurs uniques mensuels	2,3 millions
Pourcentage de ventes de billets directes	85%

Application mobile

L'application mobile d'Allegiant, disponible sur les plates-formes iOS et Android, génère 22% des transactions de réservation numérique. L'application a été téléchargée 1,4 million de fois en 2023.

Métrique de l'application mobile	Valeur
Téléchargements d'applications en 2023	1,4 million
Transactions de réservation numérique	22%

Agences de voyage en ligne

Allegiant s'associe à plusieurs agences de voyage en ligne, qui contribuent environ 7% des revenus totaux de réservation.

• Expedia
• Orbite
• Voyage

Centres d'appels de vente directs

Allegiant exploite 3 centres d'appels dédiés gantant environ 15% des réservations clients. Le volume d'appel annuel atteint 1,8 million d'interactions clients.

Métrique du centre d'appel	Valeur
Nombre de centres d'appels	3
Volume d'appel annuel	1,8 million
Pourcentage de réservation	15%

Compteurs de billets d'aéroport

Allegiant maintient les compteurs de billets dans 121 aéroports de son réseau, traitant environ 5% du total des ventes de billets.

Counter Metric Airport	Valeur
Nombre d'emplacements d'aéroport	121
Pourcentage de vente de billets	5%

ALLANGIANT Travel Company (ALGT) - Modèle d'entreprise: segments de clientèle

Voyageurs de loisirs soucieux du budget

Allegiant cible les voyageurs à la recherche d'options de vacances à faible coût. Au quatrième trimestre 2023, la société a rapporté:

Métrique	Valeur
Prix ​​moyen des billets	$79.12
Les voyageurs de loisirs servis chaque année	14,2 millions
Pourcentage de voyageurs à petit budget	68%

Les familles qui recherchent des options de vacances abordables

Allegiant se concentre sur le marché des voyages familiaux avec des caractéristiques spécifiques:

• Revenu médian des ménages du segment de la famille cible: 65 400 $
• Taille moyenne du groupe familial: 3,4 passagers
• Destinations de vacances typiques: Las Vegas, Orlando, Phoenix

Voyageurs sur les marchés plus petits et mal desservis

Détails de pénétration du marché pour les marchés secondaires:

Type de marché	Nombre de villes servies	Passagers annuels
Marchés secondaires	129	3,8 millions
Marchés tertiaires	86	1,5 million

Voyageurs spontanés sensibles aux prix

Caractéristiques du segment de voyage spontané:

• Fenêtre de réservation: 0-14 jours avant le voyage
• Pourcentage de réservations spontanées: 42%
• Âge des voyageurs spontanés moyens: 32 à 45 ans

ALLANGIANT Travel Company (ALGT) - Modèle d'entreprise: Structure des coûts

Frais de location et de maintenance des avions

En 2023 rapports financiers, les frais de location et de maintenance des avions d'Allegiant étaient de 314,5 millions de dollars. La société exploite une flotte de 127 avions Airbus, principalement des modèles A320 et A321.

Catégorie de dépenses	Montant (2023)
Coûts de location d'avions	214,3 millions de dollars
Frais de maintenance	100,2 millions de dollars

Coût de carburant

Les dépenses de carburant pour Allegiant en 2023 ont totalisé 370,6 millions de dollars, ce qui représente une partie importante des coûts opérationnels.

• Prix ​​du carburant moyen par gallon: 2,85 $
• Consommation totale de carburant: 130 millions de gallons
• Efficacité énergétique: 74 miles de siège par gallon

Salaires et formation des employés

Les dépenses totales du personnel pour Allegiant en 2023 étaient de 282,4 millions de dollars.

Catégorie des employés	Salaire moyen
Pilotes	$120,000
Agents de bord	$55,000
Personnel de terrain	$45,000

Dépenses de marketing et de distribution

Les frais de marketing et de distribution pour Allegiant en 2023 s'élevaient à 98,7 millions de dollars.

• Marketing numérique: 42,3 millions de dollars
• Publicité traditionnelle: 31,5 millions de dollars
• Coûts du canal de distribution: 24,9 millions de dollars

ALLANGIANT Travel Company (ALGT) - Modèle d'entreprise: Strots de revenus

Ventes de billets

Pour l'exercice 2023, Allegiant Travel Company a déclaré un chiffre d'affaires total de 2,46 milliards de dollars. Les revenus des passagers, qui comprennent principalement les ventes de billets, étaient de 1,97 milliard de dollars.

Catégorie de revenus	Montant (2023)
Revenus de fonctionnement total	2,46 milliards de dollars
Revenus des passagers	1,97 milliard de dollars

Frais de service auxiliaires

Allegiant généré 487 millions de dollars de revenus non coiffés des services auxiliaires en 2023.

• Frais de réservation
• Changement de frais
• Frais de commodité

Revenus de vacances

Les forfaits de vacances ont contribué approximativement 214 millions de dollars au total des revenus de l'entreprise en 2023.

Frais de sélection des bagages et des sièges

Service	Charge moyenne
Bagages à carreaux	35 $ ​​par sac
Sélection des sièges	10 $ à 25 $ par siège

Commissions de location d'hôtel et de voiture

Les revenus de la commission des services liés aux voyages étaient approximativement 58 millions de dollars en 2023.

Source de la commission	Contribution des revenus
Réservations d'hôtel	38 millions de dollars
Commissions de location de voitures	20 millions de dollars

Allegiant Travel Company (ALGT) - Canvas Business Model: Value Propositions

Allegiant Travel Company offers ultra-low base fares specifically targeting price-sensitive leisure travelers. Since 1999, Allegiant Air has linked travelers in underserved cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant serves communities across the nation, with base airfares less than half the cost of the average domestic round trip ticket. For instance, a promotional sale in late 2025 advertised one-way fares starting as low as $39 for a specific travel window.

The company provides nonstop flights to premier vacation destinations from smaller cities. Allegiant Travel Company recently announced the addition of 30 new nonstop routes, including four new markets, launching in the first half of 2026, which will provide service between 35 cities.

Operational excellence supports the value proposition, with Allegiant Travel Company achieving a remarkable 99.9% controllable completion factor in the second quarter of 2025. This high level of operational reliability was also reported as a 99.9% controllable completion factor in departures for the third quarter of 2025.

The model heavily relies on unbundled pricing allowing customers to customize their travel cost. This is evident in the strong performance of ancillary revenue, which increased by $3 per passenger during the first half of 2025. The record total average ancillary fare reached $79.28 per passenger in the first quarter of 2025. Here are some key metrics underpinning these value drivers as of the first half of 2025.

Value Proposition Metric	Financial/Statistical Number	Period/Context
Base Airfare Positioning	Less than half the cost of the average domestic roundtrip ticket	As of late 2025
Promotional One-Way Fare Example	$39	For specific travel dates in late 2025/early 2026 sale
Controllable Completion Factor	99.9%	Second Quarter 2025
Ancillary Revenue Improvement	$3 per passenger	First half of 2025
Record Total Average Ancillary Fare	$79.28 per passenger	First Quarter 2025
New Nonstop Routes Announced	30	Launching in first half of 2026

Allegiant Travel Company (ALGT) - Canvas Business Model: Customer Relationships

You're looking at how Allegiant Travel Company (ALGT) keeps its customers engaged, which, for an ultra-low-cost carrier, is all about efficiency and value capture. The relationship is fundamentally transactional, but they are actively trying to layer on loyalty to secure that next booking.

Automated self-service via website and mobile app

The primary interface for the customer relationship is digital, which keeps their cost-to-serve low. This is key to maintaining the low-fare structure you see advertised. You can see the success of this push in their booking mix.

For instance, the percent of sales through the website was reported at 92.4 % for the second quarter of 2025, and slightly higher at 92.5 % in the first quarter of 2025. This heavy reliance on direct, automated channels is a deliberate strategy.

To encourage self-service adoption, Allegiant Travel Company imposes fees for human intervention. For example, a $5.00 fee applies if a passenger chooses to have a boarding pass printed at select domestic airport locations, pushing them toward the mobile app for a digital pass. Furthermore, fares displayed online include an electronic usage charge of $22 per passenger, per segment, whether booked via the website or the call center, though the goal is clearly to steer traffic to the web.

The digital relationship offers several self-service options:

• Manage Travel section on allegiantair.com for online changes or cancellations.
• AVA Allegiant Virtual AssistantTM for live chat support.
• Digital boarding passes via the mobile app.

Transactional relationship driven by low-cost focus

The core of the relationship is the low price point, which is the main draw for their specific customer segment. Allegiant Travel Company states that its base airfares are less than half the cost of the average domestic roundtrip ticket. This transactional nature is evident even in their recent traffic and financial performance.

Looking at October 2025, scheduled service passengers jumped 27.4% year-over-year, totaling 1,488,444 passengers. Total system passengers rose 27.6% to 1,527,501. Still, the third quarter of 2025 showed a consolidated net loss of $37.7 million, with revenue at $561.9 million and earnings per share at -$2.09.

The low-cost focus is also reflected in ancillary revenue, which is where they make up margin. In the fourth quarter of 2024, ancillary revenue per passenger reached $78.43, marking a 7.4% increase from the same period in 2023. This is how they keep the base fare low while monetizing the entire trip.

You can see the low-fare promise in their promotional activity. For a late 2025 sale, one-way fares were advertised to start at $39 for travel between December 15, 2025, and May 31, 2026.

Here is a snapshot of recent operational and financial context that frames this transactional relationship:

Metric	Period/Date	Value
Scheduled Service Passengers	October 2025	1,488,444
Total System Passengers	October 2025	1,527,501
Consolidated Net Loss	Q3 2025	$37.7 million
Revenue (LTM)	As of late 2025	$2.58 billion
Ancillary Revenue Per Passenger	Q4 2024	$78.43

Loyalty program strengthening to drive repeat business

Allegiant Travel Company is working to move customers beyond single transactions through its Allways Rewards program, which launched in 2021. This program is designed around dollars spent, not miles flown, which fits the leisure traveler profile. Members earn 1 point for every dollar spent on a flight, redeemable at a rate of 1 cent per point, meaning a $100 flight yields $1 in future travel credit.

To deepen engagement, they are enhancing the program, especially around their co-branded credit card. For example, points earned on the card are eligible for redemption on the first day after the monthly credit card statement closes. Furthermore, members can earn 2 points per qualified dollar spent on itineraries with qualified spend equal to or above $500.

The program has specific rules designed to encourage consistent engagement, like points expiring after 24 months of inactivity. Inactivity is defined by making a booking while logged in or completing travel using an Allways ID number.

The airline's efforts are recognized; Allegiant Travel Company was named the only U.S. airline on Newsweek's America's Most Loved Brands 2025 list, achieving a four out of five-star rating in the study. This suggests the loyalty efforts are resonating with their base.

The focus on repeat business is also seen in targeted promotions, such as an early promotion in late November 2025 offering bonus points for winter travel:

• 500 bonus points for completing travel in December.
• 1,000 bonus points for completing travel in January.
• 2,000 bonus points for completing travel in February.

Finance: draft 13-week cash view by Friday.

Allegiant Travel Company (ALGT) - Canvas Business Model: Channels

You're looking at how Allegiant Travel Company gets its product-ultra-low-cost, nonstop leisure travel-into the hands of its customers. It's a very direct-to-consumer setup, which helps keep costs down, a key part of their whole model. The channels they use are tightly integrated with their point-to-point, leisure-focused network.

Allegiant.com and mobile app (primary direct sales channel)

Honestly, the digital storefront is where the vast majority of the action happens. This direct channel bypasses traditional travel agents, which is crucial for maintaining those low base fares. For the full year 2024, the percent of sales through the website was reported at 92.4%. That's a massive reliance on direct booking. Even in the second quarter of 2024, the website accounted for 93.1% of sales. This digital focus also drives the ancillary revenue, which is where the real margin is made. For instance, the total average ancillary fare hit a record $75.83 per passenger for the full year 2024, and in the fourth quarter of 2024, it was over $78 per passenger. You see the connection: the direct channel sells the low base fare and then up-sells the extras.

Here's a quick look at how their digital sales stack up against their total revenue base:

Metric	Period	Value
Full Year 2024 Total Operating Revenue	Full Year 2024	$2.51B
Full Year 2024 Passenger Revenue (in thousands)	Full Year 2024	$2,217,059
Website Sales Percentage	Full Year 2024	92.4%
Website Sales Percentage	Q2 2024	93.1%

Secondary and smaller-city airports with lower operating costs

Allegiant Travel Company's network structure is itself a channel strategy. They don't compete head-to-head at major hubs; they connect smaller, underserved cities to leisure destinations. This strategy relies on using smaller airports that generally have lower landing fees and operating expenses. This focus on specific city pairs drives demand directly to their point-to-point service. The growth in this channel is aggressive:

• - In November 2024, Allegiant announced 44 new nonstop routes, adding 3 new cities to the network, which then served 51 cities in total.
• - By July 2025, they announced 7 new nonstop routes connecting 12 cities, adding Fort Myers, Florida, as a new destination.
• - In November 2025, they announced another 30 new nonstop routes connecting 35 cities, including 4 new markets (La Crosse, Philadelphia, Trenton, Columbia) launching in early 2026.

They are defintely committed to this point-to-point, smaller-city approach. For example, in the October 2025 traffic report, they flew 1,488,444 scheduled service passengers.

Call centers for customer support and bookings

While digital is king, you still need a way to handle things when the app or website isn't enough, or for customers who prefer a human touch. The call centers primarily serve as a necessary support function for the direct sales model, handling customer service issues, changes, and sometimes initial bookings, though the latter is a smaller portion of total sales. We know that for the full year 2024, the airline was ranked number 4 amongst major US carriers in the Wall Street Journal's "The Best and Worst Airlines of 2024," which suggests a baseline level of service interaction is managed through these channels.

• - Call centers support the 18M total active Allways Rewards members as of the end of 2024.
• - They manage service for the 16,982,836 passengers carried in scheduled service for the full year 2024.

Finance: draft 13-week cash view by Friday.

Allegiant Travel Company (ALGT) - Canvas Business Model: Customer Segments

You're looking at the core audience Allegiant Travel Company targets, which is quite specific and drives their entire low-cost, leisure-focused model. They aren't trying to be everything to everyone; they focus on a distinct group that values price over premium amenities.

The primary segment is definitely the price-sensitive leisure travelers and families. This is evident in their marketing, like the Cyber Monday/Travel Tuesday sale offering one-way fares starting at just $39 for travel between December 15, 2025, and May 31, 2026. Allegiant Travel Company positions itself as a low-cost carrier, stating that its base airfares are less than half the cost of the average domestic roundtrip ticket. This focus on value is central to their appeal, even when facing financial headwinds, such as the consolidated net loss of $37.7 million reported for the third quarter of 2025 on revenue of $561.9 million.

Next, you have the residents of small-to-medium-sized US cities. Allegiant Air has built its network specifically to link travelers in these under-served cities to popular vacation destinations with all-nonstop flights. This strategy is reflected in their operational scale, which continues to grow. For instance, in October 2025, the airline carried 1,488,444 passengers in scheduled service, a 27.4% increase year-over-year. Honestly, their entire route map is a testament to serving these specific geographic pockets.

Here's a quick look at the traffic volume supporting this segment in late 2025:

Metric (October 2025)	Scheduled Service	Total System
Passengers	1,488,444	1,527,501
Revenue Passenger Miles (000)	1,333,828	N/A
Available Seat Miles (000)	1,628,174	1,716,990
Load Factor	81.9%	N/A

Finally, the third segment is the vacation package buyers seeking bundled air, hotel, and car options. Allegiant Travel Company is an integrated travel company, not just an airline. They sell air transportation both on a stand-alone basis and bundled with air-related and third-party services and products. The company's leisure focus is underscored by the opening of Sunseeker Resort Charlotte Harbor, which offers guestrooms and food and beverage outlets, clearly aiming to capture more of the vacation spend from their flying customers. The trailing twelve-month revenue as of September 30, 2025, stood at $2.58B, a figure that incorporates these ancillary and package sales. You can see the commitment to this bundled offering, even if the exact package attachment rate isn't publically detailed in every traffic release. They were defintely named 2025's Best Low-Cost Airline in North America by Skytrax, which speaks volumes about their success with this value-seeking demographic.

For the next step, Finance needs to draft the 13-week cash view by Friday.

Allegiant Travel Company (ALGT) - Canvas Business Model: Cost Structure

Allegiant Travel Company operates with a core focus on cost discipline, central to its ultra-low-cost carrier (ULCC) model.

Labor costs remain a significant component, though the airline has taken steps to mitigate crew-related expenses, such as scheduling crews to return to their home base daily to avoid hotel room costs. For the first half of 2025, total operating expenses increased by 9.3% year-over-year, even as aircraft fuel expense decreased by 2.4% year-over-year.

Aircraft ownership and maintenance expenses showed pressure in the third quarter of 2025. Specifically, the maintenance line item increased by 31.8% year-over-year in Q3 2025. This increase was linked to the timing of rotable repairs, lease returns, and some tariff costs. Furthermore, increased maintenance costs and a rise in aircraft lease rentals were cited as factors contributing to the airline's Q3 2025 operating loss of USD 20.2 million.

The ULCC structure inherently benefits from lower airport operating costs by serving small and medium-sized cities, often utilizing secondary airports. This strategy helps keep the overall cost base down, which is reflected in the unit cost performance.

The airline's focus on cost control is evident in its unit cost metrics:

• Adjusted airline-only operating Cost per Available Seat Mile, excluding fuel (CASM-ex fuel), was 8.47¢ in Q3 2025.
• This Q3 CASM-ex fuel represented a decrease of 4.7% year-over-year for the quarter.
• Year-to-date through the first nine months of 2025, the team achieved an adjusted CASM-ex fuel decrease of nearly 7%.

Here's a quick look at key operational cost indicators from Q3 2025 compared to the prior year:

Cost Metric (Airline Only)	Q3 2025 Value	Year-over-Year Change
Adjusted CASM, excluding fuel and specials	8.47¢	Down 4.7%
Maintenance Expense	Not specified	Up 31.8%
Operating Margin	(3.1)%	Decline from prior year profit

The fleet modernization plan, aiming for the MAX aircraft to comprise over 20% of Available Seat Miles (ASMs) in 2026, is expected to further lower fuel and maintenance costs, supporting future margin expansion. The airline ended Q2 2025 with a fleet of 126 aircraft.

You should monitor the progress of the MAX integration, as it's directly tied to achieving lower unit costs going forward. Finance: draft 13-week cash view by Friday.

Allegiant Travel Company (ALGT) - Canvas Business Model: Revenue Streams

You're looking at the core ways Allegiant Travel Company brings in money as of late 2025. It's a mix heavily weighted toward the non-ticket side of the business, which is typical for their model.

The primary components of Allegiant Travel Company's revenue streams are detailed below, reflecting performance through the first half of 2025.

• - Ancillary revenue, hitting a record $79.28 per passenger for the first quarter of 2025.
• - Passenger ticket sales (base fares), which represented the bulk of the top line.
• - Cobrand credit card remuneration, totaling $33.3 million in the second quarter of 2025.
• - Fixed fee contract revenue from providing services to other airlines.

Passenger revenue, which covers base fares, was significant, accounting for 88.2% of the total operating revenue in the first quarter of 2025. To be clear, Allegiant Travel Company positions its base airfares as less than half the cost of the average domestic roundtrip ticket, relying on other streams to build profitability.

The ancillary revenue stream is a key differentiator. That record $79.28 per passenger in Q1 2025 was driven by the expansion of products like Allegiant Extra and the reintroduction of a third ancillary bundle offering.

Here's a look at how the fixed fee contract revenue stacked up against other revenue categories for the first half of 2025:

Revenue Category (in millions USD)	Q1 2025	Q2 2025
Passenger Revenue	$616.750	Data not isolated from total operating revenue in the same format as other lines for Q2 2025.
Fixed Fee Contracts	$16.252	$17.019
Third Party Products	$35.203	Data not isolated from total operating revenue in the same format as other lines for Q2 2025.
Resort and Other	$30.869	Data not isolated from total operating revenue in the same format as other lines for Q2 2025.

For the nine months ended September 30, 2025, the total fixed fee contracts revenue reached $52.123 million. This figure represented an 8.7% decrease compared to the same nine-month period in 2024, which was attributed to less aircraft time dedicated to sports flying during March Madness and a return to normal levels for Department of Defense flying.

The cobrand credit card remuneration is a steady source of cash flow. The $33.3 million received in the second quarter of 2025 contributed to a year-to-date total of $103.4 million through the third quarter.

• The Q1 2025 remuneration was $36.1 million.
• The Q2 2025 remuneration was $33.3 million.
• The Q3 2025 remuneration was $34.0 million.

So, you see the revenue streams are quite diversified beyond just selling seats.