v3.26.1
Acquisition of Sun Country Airlines Holdings, Inc. (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Contingent Consideration
The total purchase consideration was as follows:
(in thousands)May 13, 2026
Merger consideration
     Cash$223,431 
     Shares 634,788
Add: Pre-combination value of replaced and accelerated equity awards21,173
Add: Consideration paid with respect to Amazon warrants16,185
Add: Termination payment under Tax Receivable Agreement80,461
Total purchase consideration$976,038 
Business Combination Preliminary Allocation The following table presents the preliminary allocation of the purchase price as of the acquisition date:
(in thousands)Purchase Price Allocation
Cash and cash equivalents$119,618 
Restricted cash20,272
Short-term investments47,134
Accounts receivable77,010
Short term lessor maintenance deposits37,268
Expendable parts, supplies and fuel, net12,356
Prepaid expenses and other current assets23,510
Property and equipment, net1,048,057
Goodwill465,719
Other intangible assets21,600
Long-term investments4,980
Operating lease right-of-use assets, net10,819
Deposits and other assets85,322
Total assets acquired1,973,665
Accounts payable97,108
Accrued liabilities65,253
Current operating lease liabilities3,756
Air traffic liability137,306
Current loyalty program liability9,495
Current maturities of long-term debt and finance lease obligations, net of related costs137,114
Long-term debt and finance lease obligations, net of current maturities and related costs433,150
Deferred income taxes89,496
Noncurrent operating lease liabilities8,725
Noncurrent loyalty program liability4,890
Other noncurrent liabilities11,334
Liabilities assumed997,627
Total consideration$976,038 
Business Combination, Intangible Asset, Acquired, Indefinite-Lived
The estimated fair value and weighted average useful life of the Sun Country intangible assets are as follows:
Fair Value (in thousands)Weighted Average Useful Life
Trademarks$13,2002 Years
Customer Relationships8,4002 Years
Total$21,600
Business Combination, Employee Benefit Plans Activity A summary of the Plan activity is presented below:
Shares(1)
Restricted stock units granted to Sun Country holders268,627
Vested(127,321)
Forfeited(4,943)
Non-vested at June 30, 2026136,363
(1) All RSUs had a grant date fair value of $75.21, which was the Allegiant Travel Company stock price at the date of acquisition, May 13, 2026.
Business Combination, Pro Forma Information
The pro forma information includes adjustments for estimated acquisition-related costs of $73.0 million assumed to have been incurred on January 1, 2025.

Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Operating revenues$1,077,194$953,005$2,147,991$1,978,728
Net income65,011(54,409)96,895(58,578)