Allegiant Travel Company · NASDAQ:ALGT
Allegiant Travel — Merger or Acquisition (January 2026)
18 slides from Allegiant Travel's merger presentation, Jan 12, 2026
Slide 1: Transaction Announcement
TransactionAnnouncement January 12, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements Sub-Header: Enter your optional sub-heading here Source: Footnotes. Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements under the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, Sect
Slide 3: Today's Speakers
Today’s Speakers Greg Anderson Chief Executive Officer Robert (“BJ”) Neal President & Chief Financial Officer Jude Bricker Chief Executive Officer
Slide 4: Combining Two Carriers Cut From the Same Cloth
Combining Two Carriers Cut From the Same Cloth Source: Diio Mi. Calculated as the percentage of routes in 2025 ranked #1 or #2 based on total number of seats. Only considers routes with at least 10 departures in 2025. Successful, Flexible Capacity, Operating Models Leisure Focused Diversified Busine
Slide 5: Creates Long Term Value for Shareholders
Creates Long Term Value for Shareholders Source: Footnotes. Sub-Header: Enter your optional sub-heading here Enter your text here Line 2 Line 3 Line 4 5 Creates a Leading Flexible Capacity Carrier in North America Expected to Generate $140 Million in Synergies with Conservative Estimates Optimized F
Slide 6: Transaction Overview
Transaction Overview On a fully-diluted basis. Based on Sun Country’s and Allegiant’s share price as of January 9, 2026. Includes $0.4bn of Sun Country’s adjusted net debt (including leases) as of 3Q25. Transaction Details Allegiant to acquire Sun Country with Allegiant shareholders owning ~67% and
Slide 7: Other U.S. Carriers Similar Approaches and Ability to Flex Capacity
Other U.S. Carriers Similar Approaches and Ability to Flex Capacity… Source: Diio Mi, Form 41. Based on scheduled service operations. Represents average of Alaska, American, Delta, Frontier, JetBlue, Southwest, Spirit, United, Breeze and Avelo. Based on the difference between peak day seats flown an
Slide 8: Have Driven Industry Leading Performance
…Have Driven Industry Leading Performance Source: Company filings. Represents Adjusted EBIT as reported by each respective carrier. Excludes Sunseeker. Represents average of American, Delta, Southwest and United. Adjusted EBIT Margin(1) (%) TTM 3Q25 (2) Big Four Carriers(3) Flying during periods of
Slide 9: Merger Creates Leading Flexible Capacity Carrier
Merger Creates Leading Flexible Capacity Carrier Source: Company filings, Diio Mi. Excludes Sunseeker. Based on scheduled service operations. Calculated as the average of planned, scheduled service daily flights on Thursday, Friday, Sunday and Monday. Includes 5 aircraft leased to and operated by ot
Slide 10: A Highly Successful and Profitable Leisure Carrier
A Highly Successful and Profitable Leisure Carrier Source: Footnotes. Sub-Header: Enter your optional sub-heading here Enter your text here Line 2 Line 3 Line 4 Capacity / Utilization Focus Markets Strategy Business Diversification Other Leisure Carriers The flexible capacity business model that All
Slide 11: Combined Company Is Well Positioned to Win in Leisure
Combined Company Is Well Positioned to Win in Leisure Source: Company filings, Form 41. Excludes Sunseeker. Net income from Form 41. Figures from 1Q23 to 2Q25. Net income from Form 41. Figures from 4Q21 to 2Q25. Adjusted net income from 2021 to 2023. From 2024 to 3Q25, as reported net income is adju
Slide 12: A More Diversified and Resilient Airline
A More Diversified and Resilient Airline Source: Company filings. Excludes Sunseeker. Scheduled service revenue. Ancillary passenger revenue. Loyalty, co-brand and other third-party revenue. Excludes rental revenue from leased aircraft. Revenue Composition TTM 3Q25 The combined carrier will generate
Slide 13: Significant Future Fleet Optionality Drives Growth and Value
Significant Future Fleet Optionality Drives Growth and Value Source: Company filings, MBA, Ascend. Based on estimated half-life market values of fleet assets less fleet debt. Fleet values are estimates and subject to change. Includes all B737-800F aircraft on Amazon sublease. Allegiant & Sun Country
Slide 14: Potential Network Growth Opportunities
Potential Network Growth Opportunities Source: Footnotes. Allegiant and Sun Country Combined Network Growth Opportunities Significant connecting-the-dot opportunities between complementary networks Serving international leisure destinations from Allegiant’s origination markets Added frequencies leve
Slide 15: Combination Creates Substantial Synergy Opportunity
Combination Creates Substantial Synergy Opportunity Source: Footnotes. Sub-Header: Enter your optional sub-heading here Enter your text here Line 2 Line 3 Line 4 Anticipated one-time integration costs of approximately $150 - $200 million $140M CostSynergies RevenueSynergies $140 million in annual ru
Slide 16: Generates Robust Returns While Maintaining a Strong Balance Sheet
Generates Robust Returns While Maintaining a Strong Balance Sheet Source: Company filings, Form 41. Includes $140 million of net synergies phased in over three years post closing and excludes integration costs. Adjusted Net Debt / Adjusted EBITDAR defined as (Total Debt + Operating Leases – Cash) /
Slide 17: Creating Value for All Our Stakeholders
Creating Value for All Our Stakeholders Source: Footnotes. Sub-Header: Enter your optional sub-heading here Enter your text here Line 2 Line 3 Line 4 Consumers & Communities Broader, more frequent flying to top vacation spots, unlocks new options for travelers Drives loyalty rewards and customer val
Slide 18: Source: Footnotes.
Source: Footnotes.
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