Allegiant printed money during the recession and rode that wave to 25-30% operating margins for 5+ years. Even last quarter (Q2 2023) our operating margin was over 18%.

One of the many problems with Allegiant management is they got the hairbrained idea to build a 700m resort in the only place on the west coast of FL that is a swamp. I didn’t catch the earnings call yesterday but saw the financial disclosures. Not sure what was said to drop the stock 8% today (it was up 4% yesterday).