Allegiant Air reports $36 million loss as it assesses Hurricane Milton's impact

Allegiant Air reported a $36 million loss for the third quarter, with revenue at $562 million, falling short of expectations. The airline is assessing damage from Hurricane Milton, following a $2 million loss from Hurricane Helene. The company faced significant disruptions due to the storms, impacting its operations in Florida. Allegiant also closed its Sunseeker Resort, which has struggled with construction delays and hurricane damage since 2022. Despite these challenges, Allegiant has shifted many fourth-quarter reservations to early next year. The airline is exploring options for the Sunseeker project, including a potential sale, while also seeing demand from business travelers connected to FEMA efforts.