Item 2.02 Results of Operations and Financial Condition.
On July 29, 2020, Allegiant Travel Company (the "Company") issued the press
release attached as Exhibit 99.1 to this Form 8-K concerning our results of
operations for the quarter and six months ended June 30, 2020.
This information is being furnished under Item 2.02 of Form 8-K. This report and
Exhibit 99.1 are deemed to be furnished and are not considered "filed" with the
Securities and Exchange Commission. As such, this information shall not be
incorporated by reference into any of our reports or other filings made with the
Securities and Exchange Commission.
Non-GAAP Financial Measures: The press release contains non-GAAP financial
measures as such term is defined in Regulation G under the rules of the
Securities and Exchange Commission. While the Company believes these financial
measures are useful in evaluating the Company's performance, this information
should be considered to be supplemental in nature and not as a substitute for or
superior to the related financial information prepared in accordance with GAAP.
Further, these non-GAAP financial measures may differ from similarly titled
measures presented by other companies.
Forward-Looking Statements: Under the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, statements in the press release that
are not historical facts are forward-looking statements. These forward-looking
statements are only estimates or predictions based on our management's beliefs
and assumptions and on information currently available to our management.
Forward-looking statements include our statements regarding future airline
operations and capacity, the efficacy of cost saving measures, future
expenditures, our ability to access additional funds from the Treasury, cash
burn, the timing of aircraft acquisitions and retirements, aircraft financings,
expected capital expenditures, as well as other information concerning future
results of operations, business strategies, financing plans, competitive
position, industry environment, and potential growth opportunities.
Forward-looking statements include all statements that are not historical facts
and can be identified by the use of forward-looking terminology such as the
words "believe," "expect," "guidance," "anticipate," "intend," "plan,"
"estimate," "project", "hope" or similar expressions.
Forward-looking statements involve risks, uncertainties and assumptions. Actual
results may differ materially from those expressed in the forward-looking
statements. Important risk factors that could cause our results to differ
materially from those expressed in the forward-looking statements generally may
be found in our periodic reports and registration statements filed with the
Securities and Exchange Commission at www.sec.gov. These risk factors include,
without limitation, the impact and duration of the COVID-19 pandemic on airline
travel and the economy, liquidity issues resulting from the effect of the
COVID-19 pandemic on our business, restrictions imposed on us as a result of
accepting grants and loans under the CARES Act, an accident involving, or
problems with, our aircraft, public perception of our safety, our reliance on
our automated systems, our reliance on third parties to deliver aircraft under
contract to us on a timely basis, risk of breach of security of personal data,
volatility of fuel costs, labor issues and costs, the ability to obtain
regulatory approvals as needed , the effect of economic conditions on leisure
travel, debt covenants and balances, the ability to finance aircraft under
contract, terrorist attacks, risks inherent to airlines, our competitive
environment, our reliance on third parties who provide facilities or services to
us, the possible loss of key personnel, economic and other conditions in markets
in which we operate, the ability to successfully develop and finance a resort in
Southwest Florida, governmental regulation, increases in maintenance costs and
cyclical and seasonal fluctuations in our operating results.
Any forward-looking statements are based on information available to us today
and we undertake no obligation to update publicly any forward-looking
statements, whether as a result of future events, new information or otherwise.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
M. Ponder Harrison was elected to fill a vacancy on the Board created by an
amendment to the Company's By-laws on October 23, 2019. At that time, Mr.
Harrison had not been assigned to any Board committee. Mr. Harrison has now been
appointed to serve on the Compensation Committee of the Board of Directors in
place of Gary Ellmer.
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Item 9.01 Financial Statements and Exhibits.
(a)Not applicable.
(b)Not applicable.
(c)Not applicable.
(d)Exhibits
Exhibit No. Description of Document
99.1 Press Release issued by Allegiant Travel Company on July 29, 2020
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