tom11011

I don't see how that would be possible. He's largest shareholder but that's only about 12%. He would have to purchase the entire company, take it private, then liquidate it.

KC135

I think the original comment was meant more along the lines of just letting the airline shrink into its demise with attrition and lack of new hire interest by continuing the unprofessional union busting tactics and beyond sub par pay, work rules, and retirement. I would just write off marg's comment as ridiculous but as somebody among those who knows what was said to a new hire class directly after the union was brought on property, it is definitely not beyond the realm of possibilities.

TangoIndiaMike1

The term is shrink to profitability. All the bases will have 10 pilots and 2 planes doing short full flights.


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rickair7777

Yes, he'd need to own all of it to do something like that. Any other shareholders (even minority) would have a thing or two to say about intentionally winding down a company, unless it could be shown that provided the best ROI.

Be Realistic

I don't think this place is worth a billion in assets. Far from it unless Allegiant owns sunrise aircraft management etc, then the aircraft assets are not allegiants to sell. This place is a very low asset business from what I see. They don't own much (HQ is owned by MG and leased to G4, gate leases in secondary cities are about worthless, WFS owns 90% of our infrastructure of staff, MG owns the ECTC), they lease where they can, and use contractors. What exactly does their balance sheet contain in assets? How many of the fleet is leased vs owned by the airline. I know the 13 new airframes are shown to be owned by G4, but there is probably still a large bank note on those.

I believe the value of this place has always been in the profitability of the business model - something that the powers that be are screwing up big time right now.

Margaritaville

Well that's a great question. Does Maury actually own Sunrise Asset Management and the other aircraft holding company (can't remember the name right now) that own most of the aircraft free and clear? Does he still own most of G4's assets and lease them back to the company? Does he still contract most of the services the company uses back to the company? My understanding is yes to all.

Sure his actual stock is only about 12% now, and its a publicly traded company, but he still very much controls the company. Who are all the silent partners in these sub companies btw?

It seems to me he could choke the company out and still own sizable assets. We also know that he controls the board and the major investors by the friendly banter and softball questions at the investor conferences. Except that Richard Pfilfinger whatever guy. He's a hoot. He hasn't said much since they b1tch slapped him a couple years ago though.

I'm just spitballing here. There's got to be a reasonable explanation why the company stock flew high for 10 years then suddenly nosedived while every other airline has mostly maintained status quo.

Also every other time in this company's history, when the country was heading into recession and the other airlines were scaling back Allegiant has been bullish. This company has always profited at the demise of other airlines. "Opportunistic growth" I think they like to call it. This time they seem to just be plodding along hoping the ax doesn't fall* instead of planning a major expansion. I don't get it. What changed?

*"Hope is not a strategy" - Maury Gallagher

tom11011

Sunrise Asset Management is registered with the Nevada Secretary of State. Since its an LLC we cannot see the owners (members) without being able to get a look at the articles of organization. But Scott and Greg are the official officers of the company. I assume they have a financial interest. https://esos.nv.gov/EntitySearch/BusinessInformation

skydisaster

Multiple filings over the years indicate that Allegiant Travel Company is the parent company and there are several LLCs under that umbrella including Allegiant Air, Sunrise Asset Management, Sunseeker Florida, Port Charlotte LLC, etc.


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G4slumdod

Even with every poor sucker we get to come here we shrunk by 5 pilots from last month to this. Sad

G4slumdod

Just to F around with his FU money, Elon could buy Allegiant for 1/40th the cost of twitter and slap his name on the stadium, own a bunch of land in summerlin, plus get 100+ planes and a resort in FL. I mean what is a billion and change to him?