LAS
VEGAS, June 17, 2022 /PRNewswire/ -- Allegiant
Travel Company (NASDAQ: ALGT) today reported preliminary
passenger traffic results for May
2022.
"We grew capacity by nearly 16 percent during May, as compared
with 2019, and completed the month with a load factor of 87
percent, the highest month since the onset of the pandemic," stated
Drew Wells, senior vice president,
revenue. "Demand strength continues to persist with forward
bookings outpacing future capacity growth and continuing to trend
higher than levels observed during 2019. Although early, bookings
into the off-peak season are also trending higher than 2019. We
continue to expect June loads to surpass May levels, with loads
expected to be roughly 90 percent. As COVID cases began rising
mid-May, we saw an increase in flight cancelations stemming from
crew availability. Due to heightened cancelations, we expect total
revenue for the quarter to come in on the low end of our previous
guide, at up roughly 28 percent compared with 2019. In addition, we
now expect total system capacity to be up roughly 11.5 percent for
the quarter, year over three-year."
"The average cost per fuel gallon in May was $4.41 and we now expect to finish the quarter at
an average cost per gallon of $4.30,"
stated Gregory Anderson, executive
vice president, chief financial officer. "This increased fuel cost
over our previous guide of $4.00 per
gallon will result in roughly $18
million in excess expense throughout the quarter. We expect
our CASM, excluding fuel and profit sharing, to fall within our
previous guide, at up roughly 15 percent when compared with 2019.
Updated guidance for the second quarter is included in the table
below."
|
Previous
|
Current
|
System ASMs – year
over three-year change1
|
Up 9.0 to
13.0%
|
Up ~11.5%
|
Scheduled service
ASMs – year over three-year change¹
|
Up 10.0 to
14.0%
|
Up ~12.5%
|
Total operating
revenue - year over three-year change¹
|
Up 28.0 to
32.0%
|
Up ~28%
|
Operating CASM,
excluding fuel and profit share - year over three-year
change¹
|
Up 12.0 to
16.0%
|
Up ~15%
|
Fuel cost per
gallon
|
$4.00
|
$4.30
|
Scheduled Service –
Year Over Three-Year Comparison
|
|
|
May 2022
|
May 2019
|
Change
|
Passengers
|
1,454,779
|
1,269,429
|
14.6 %
|
Revenue passenger miles
(000)
|
1,309,090
|
1,093,781
|
19.7 %
|
Available seat miles
(000)
|
1,512,328
|
1,308,911
|
15.5 %
|
Load factor
|
86.6 %
|
83.6 %
|
3.0pts
|
Departures
|
9,779
|
9,086
|
7.6 %
|
Average stage length
(miles)
|
879
|
843
|
4.3 %
|
Total System* - Year
Over Three-Year Comparison
|
|
|
May 2022
|
May 2019
|
Change
|
Passengers
|
1,465,823
|
1,281,742
|
14.4 %
|
Available seat miles
(000)
|
1,553,013
|
1,357,963
|
14.4 %
|
Departures
|
10,060
|
9,416
|
6.8 %
|
Average stage length
(miles)
|
877
|
844
|
3.9 %
|
Scheduled Service –
Year Over Year Comparison
|
|
|
May 2022
|
May 2021
|
Change
|
Passengers
|
1,454,779
|
1,040,590
|
39.8 %
|
Revenue passenger miles
(000)
|
1,309,090
|
888,735
|
47.3 %
|
Available seat miles
(000)
|
1,512,328
|
1,293,704
|
16.9 %
|
Load factor
|
86.6 %
|
68.7 %
|
17.9pts
|
Departures
|
9,779
|
8,939
|
9.4 %
|
Average stage length
(miles)
|
879
|
834
|
5.4 %
|
Total System* - Year
Over Year Comparison
|
|
|
May 2022
|
May 2021
|
Change
|
Passengers
|
1,465,823
|
1,046,813
|
40.0 %
|
Available seat miles
(000)
|
1,553,013
|
1,326,062
|
17.1 %
|
Departures
|
10,060
|
9,202
|
9.3 %
|
Average stage
length (miles)
|
877
|
831
|
5.5 %
|
*Total system includes scheduled service and fixed fee
contract. System revenue passenger miles and system load
factor are not useful statistics as system available seat miles
include both ASMs flown by fixed fee flying as well as non-revenue
producing repositioning flights used for operational needs.
Fixed fee flying is better measured through dollar contribution
versus operational statistics.
Preliminary
Financial Results
|
|
|
$ per gallon
|
May 2022 estimated
average fuel cost per gallon – system
|
$4.41
|
|
|
Allegiant Travel Company
Las Vegas-based Allegiant
(NASDAQ: ALGT) is an integrated travel company with an airline at
its heart, focused on connecting customers with the people, places
and experiences that matter most. Since 1999, Allegiant Air has
linked travelers in small-to-medium cities to world-class vacation
destinations with all-nonstop flights and industry-low average
fares. Today, Allegiant's fleet serves communities across the
nation, with base airfares less than half the cost of the average
domestic roundtrip ticket. For more information, visit us
at Allegiant.com. Media information, including photos, is
available at http://gofly.us/iiFa303wrtF
ALGT/G
Note: This news release was accurate at the date of issuance.
However, information contained in the release November have
changed. If you plan to use the information contained herein for
any purpose, verification of its continued accuracy is your
responsibility.
For further information please visit the company's investor
website: http://ir.allegiantair.com
Reference to the Company's website above does not constitute
incorporation of any of the information thereon into this news
release.
Allegiant Media
Contact:
|
|
Investor
Inquiries:
|
Sonya
Padgett
|
|
Sherry
Wilson
|
email:
mediarelations@allegiantaircom
|
|
email:
ir@allegiantaircom
|
1 Year over three-year percentage changes compare 2022 to
2019
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SOURCE Allegiant Travel Company