Second quarter 2013 cost performance

• Total operating expense per ASM (CASM) declined 1.8 percent, in spite of a five percent decrease in aircraft utilization 

• The year over year change in total CASM has been negative for five straight quarters 

• System ASMs per gallon increased over nine percent to 67.8 versus the second quarter 2012 

• Salary and benefits expense per passenger increased 12.5 percent versus last year primarily due to the higher pay band for pilots that began in November, extra flight attendant head count required to support the 166 seat MD-80 aircraft, and stock compensation expense 

• Maintenance and repair expense per passenger increased 26.8 percent due to a larger number of maintenance events versus a year ago 

• Depreciation and amortization expense per passenger increased 28 percent, primarily due to the accelerated depreciation on the MD-80s being retired in the third quarter and a change in estimate of MD-80 engine residual values and useful lives 

• Other expense per passenger increased 21.5 percent due to non-capitalized IT development, crew training for the Airbus fleet, and costs to support a seasonal base in Los Angeles 

* - Total system includes scheduled service, fixed-fee contract and non-revenue flying.

Third quarter 2013 cost trends

• Salary and benefit expense is expected to continue to increase versus last year due to the higher pilot pay band.  In addition, the hiring and training of flight crews for future Airbus flying, and a slight dip in flight crew productivity as the company retires MD-80 in the third quarter will add pressure to this expense 

• For the full year, maintenance expense per aircraft per month is expected to fall within its normal historical run rate of $100 thousand to $110 thousand.  Due to the timing of events, some maintenance may fall from the third quarter into the fourth quarter 

• Four MD-80s, which have been subject to accelerated depreciation, are expected to be retired in the third quarter.  However, the change in estimate of MD-80 engine residual values and useful lives reflected in the second quarter results is expected to drive depreciation expense higher in the third quarter.  At this time, the company expects full year depreciation per aircraft per month to be between $92 thousand and $97 thousand 

Third party products performance

• Net transportation revenue grew 22 percent on 18 percent growth in rental car days  

• Ancillary revenue from third party products as a percentage of income before taxes increased to 25.3 percent versus 24.5 percent last year and 21.2 percent in the first quarter 2013 

* - Includes payment expenses and travel agency commissions.

Balance sheet highlights

• Repurchased 106,000 shares for $9.7 million 

* - Unrestricted cash includes investments in marketable securities.

At this time, Allegiant Travel Company provides the following guidance to investors, subject to revision.

 CASM ex fuel - cost per available seat mile excluding fuel expense

* - 166 refers to MD-80s that have been converted to 166 seat aircraft, non 166 refers to those aircraft that will not be converted
Aircraft listed in table above include only in service aircraft

Allegiant Travel Company will host a conference call with analysts at 10:30 a.m. ET Tuesday, July 23, 2013 to discuss its second quarter 2013 financial results. A live broadcast of the conference call will be available via the Company's Investor Relations website homepage at http://ir.allegiant.com. The webcast will also be archived in the "Events & Presentations" section of the website.

Allegiant, Travel is our deal.®
Las Vegas-based Allegiant Travel Company® (NASDAQ: ALGT) is focused on linking travelers in small cities to world-class leisure destinations. Through its subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency, all-jet passenger airline, and offers other travel-related products such as hotel rooms, rental cars, and attraction tickets through its website, allegiant.com. The company has been named one of America's 100 Best Small Companies by Forbes Magazine for four consecutive years.  ALGT/G

Media Inquiries: Brian Davis
mediarelations@allegiantair.com

Investor Inquiries: Chris Allen
ir@allegiantair.com

Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this 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 unit revenue, future operating expense, ASM growth, departure growth, fixed-fee and other revenues, expected capital expenditures, number of contracted aircraft to be placed in service by quarter, timing of aircraft retirements, as well as other information concerning future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. 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 filed with the Securities and Exchange Commission at . These risk factors include, without limitation, volatility of fuel costs, labor issues, the effect of the economic downturn on leisure travel, debt covenants, terrorist attacks, risks inherent to airlines, our introduction of an additional aircraft type, demand for air services to our leisure destinations from the markets served by us, our dependence on our leisure destination markets, our competitive environment, problems with our aircraft, our reliance on our automated systems, economic and other conditions in markets in which we operate, aging aircraft and other 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.

Detailed financial information follows:

Allegiant Travel Company
Non-GAAP Presentations
Three and Six Months Ended June 30, 2013 and 2012
(Unaudited)

"EBITDA" represents earnings before interest expense, income taxes, depreciation and amortization. EBITDA is not a calculation based on generally accepted accounting principles and should not be considered as an alternative to net income or operating income as indicators of our financial performance or to cash flow as a measure of liquidity. EBITDA is included as a supplemental disclosure because we believe it is a useful indicator of our operating performance. Further, EBITDA is a well-recognized performance measurement that is frequently used by securities analysts, investors and other interested parties in comparing the operating performance of companies. We believe EBITDA is useful in evaluating our operating performance compared to our competitors because its calculation generally eliminates the effects of financing and income taxes and the accounting effects of capital spending and acquisitions, which items may vary between periods and for different companies for reasons unrelated to overall operating performance. The following represents the reconciliation of EBITDA to net income for the periods indicated below.

The SEC has adopted rules (Regulation G) regulating the use of non-GAAP financial measures. Because of our use of the non-GAAP financial measure EBITDA to supplement our consolidated financial statements presented on a GAAP basis, Regulation G requires us to include in this press release a presentation of the most directly comparable GAAP measure, which is net income, and a reconciliation of the non-GAAP measure to the most comparable GAAP measure.  Our utilization of a non-GAAP measurement is not meant to be considered in isolation or as a substitute for net income or other measures of financial performance prepared in accordance with GAAP. EBITDA is not a GAAP measurement and our use of it may not be comparable to similarly titled measures employed by other companies in the airline and travel industry. The reconciliations to GAAP net income follow.