filecrux
Oct 24, 5:51 PM
$ALGT We did a deep dive on Allegiant Travel.
🤝 Its October 19 order firms up six Boeing 737-8 jets for 2028 at a list price above
$720 million, about 39% of its
$1.85 billion market value, though discounts mean the real price is unknown
🏦 Net debt of
$1.7 billion is about 2.7 times annualized second-quarter adjusted EBITDA, and about
$470 million of debt and pilot bonuses comes due by year end against
$1.3 billion of liquidity
📈 On the bull side, the original Allegiant airline raised unit revenue 24.6% in the second quarter, and management expects the combined company to grow about in line in the third quarter
📅 The first test is the November 4 results call, where a guide held near
$6.00 with liquidity far above its
$300.0 million floor backs the bull case, and a deep cut makes the order look early
Full report linked in the replies.
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