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Allegiant Pilots Local 2118 Prepare for Vote of No Confidence in Management

1. Pilots plan a Vote of No Confidence in Allegiant's management. 2. Leadership faces criticism for poor decisions and reckless spending. 3. Allegiant's market value has collapsed by 50% in the last six months. 4. Management's priorities criticized amid ongoing contract negotiations. 5. Union urges change for long-term stability and trust.

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Why Very Bearish?

The Vote of No Confidence indicates deep-rooted management issues, likely causing further volatility and loss in investor confidence. Historical precedents, like Eastern Airlines' collapse, show similar crises led to significant stock value decline.

How important is it?

The article addresses significant management failures and the potential for leadership change, which are crucial for ALGT's operational stability. Stakeholder confidence is key in this sector, and negative sentiments can heavily influence stock performance.

Why Short Term?

Immediate market reactions to the news could cause sharp declines as investors react quickly to management instability. Previous instances in the aviation sector have shown sharp declines following poor leadership announcements.

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UALDALLUV
, /PRNewswire/ -- The pilots of Allegiant Air (NASDAQ: ALGT), represented by the International Brotherhood of Teamsters Local 2118, announced today that they are preparing to hold a formal Vote of No Confidence in Allegiant's current management team and its Board of Directors. The decision comes after years of repeated failures, poor strategic decisions, and reckless spending by company leadership — actions that pilots say threaten the long-term health and stability of the airline, regardless of the outcome of ongoing contract negotiations. "Contract or not, [Maury] Gallagher and [Greg] Anderson's management team have proven that they don't have what it takes to lead an airline," said Captain Kevn Winter on behalf of Local 2118. "The last several years have been failure after embarrassing failure. If pilots had even 1% of this level of failure in the flight deck, our careers would be over. It is time for management to be held accountable." Teamsters General President Sean O'Brien delivered a direct assessment of Allegiant's leadership culture: "[Allegiant] management culture is toxic. It is fueled by arrogance and protected by yes men and women who could never do the pilots' job." Most recently, Allegiant's leadership has presided over a 50% collapse in the company's market value in just six months, a $500 million loss on the failed Sunseeker Resort project, the shutdown of its GMS Racing NASCAR team, and millions wasted on unrelated ventures such as the "Allegiant Nonstop" entertainment centers. Pilots say these failures, combined with tone-deaf public relations and lavish executive perks, have eroded trust and jeopardized the airline's future. "We are doing this to protect the airline and the Allegiant brand that we built," said Captain Tyler Heavey. "This management team seems ready to destroy what we've built because of ego and greed." One pilot pointed to the company's recent base visits in private jets as the latest sign of misplaced priorities: "Flying fancy private jets around the country to meet with pilots — just to tell them that you 'can't afford' a new contract is a level of tone-deaf arrogance the industry hasn't seen since Frank Lorenzo's Eastern Airlines disaster in the 1990s. "A no confidence vote is not something any Union takes lightly," said Greg Unterseher, Trustee of Local 2118. "The pilots believe a change is necessary in the best interest of the airline, its employees, its customers, and its shareholders." The Teamsters emphasize that the upcoming Vote of No Confidence is about more than contract talks — it is a call for new leadership and stronger corporate governance capable of ensuring the airline's long-term stability, safety, and success. Founded in 1903, the International Brotherhood of Teamsters represents over 1.3 million hardworking people in the U.S., Canada, and Puerto Rico. Visit Teamster.org for more information. Follow us on X @Teamsters and on Facebook at Facebook.com/teamsters. Contact:Josh Martin, (725) 308-2755[email protected] SOURCE APA Local 2118 WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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