You might think investors would be most concerned with overall airline profits, which remain high. But they're not. Instead, they're fretting about unit revenues.
The European Union revolutionised the airline industry in Europe, helping to foster the boom in cheap flights by creating a single market and doing away with bilateral agreements. How the UK extricates itself from this will be just one area to keep an eye on in the coming negotiations.
Allegiant Air knows less about its most loyal customers than it would like. Its new co-branded credit card could help change that. But will anyone apply for it?
Munoz still has the goodwill of industry observers, but he's going to need to make an impact on consumer-friendly metrics like on-time arrivals as well as market-friendly ones like earnings to turn the goodwill into longer-term success.