LAS
VEGAS, Sept. 29, 2022 /PRNewswire/
-- Allegiant Travel Company (NASDAQ: ALGT) today
reported preliminary passenger traffic results for August 2022.
"As we've exited peak summer-travel season, the demand
environment has remained strong," stated Drew Wells, senior vice president, revenue. "We
finished August with a nearly two-point improvement in loads as
compared with August of 2019, on 14.6 percent more capacity. We
were on track to come in above our revenue guide of up 29 percent,
year over three-year. However, the impacts from Hurricane Ian have
resulted in the cancellation of the majority of our flights
touching Florida over the course
of the next few days. Although the situation is still developing,
we believe the impacts from Ian will bring down our revenue guide
by 1.5 percentage points."
"Over the past several days our HQ and Florida based team members have been preparing
for Hurricane Ian," stated Gregory
Anderson, president and chief financial officer. "We
communicated early with customers and provided re-accommodations at
no charge, including refunds to give them time to adjust travel
plans. We also repositioned aircraft out of the Florida area and provided options for our team
members, their families, and pets to find shelter in other bases.
The Sunseeker teams have worked around the clock to help safeguard
the resort. We are extremely proud of the teamwork from all our
team members and service providers to ensure the safest environment
possible as we wait for the final impact of Hurricane Ian.
While the overall financial and operational impacts are yet to
be determined, we have updated our quarterly guidance to include
these expected headwinds, as shown in the table below."
|
Previous
|
Current
|
System ASMs – year
over three-year change1
|
~16%
|
~14.5%
|
Scheduled service
ASMs – year over three-year change1
|
~18%
|
~17%
|
Total operating
revenue - year over three-year change1
|
~29%
|
~27.5%
|
Operating CASM,
excluding fuel - year over three-year change1
2
|
~10%
|
13 to 14%
|
Full-year 2022
interest expense
|
$85 to $95
|
$95 to $100
|
Loss on
extinguishment of debt3
|
N/A
|
$4.9 million
|
Fuel cost per
gallon
|
$3.80
|
$3.87
|
Scheduled Service – Year Over Three-Year Comparison
|
August 2022
|
August 2019
|
Change
|
Passengers
|
1,379,071
|
1,241,846
|
11.1 %
|
Revenue passenger miles
(000)
|
1,223,427
|
1,047,568
|
16.8 %
|
Available seat miles
(000)
|
1,408,597
|
1,229,543
|
14.6 %
|
Load factor
|
86.9 %
|
85.2 %
|
1.7pts
|
Departures
|
9,287
|
8,768
|
5.9 %
|
Average stage length
(miles)
|
859
|
822
|
4.5 %
|
Total System* - Year Over Three-Year Comparison
|
August 2022
|
August 2019
|
Change
|
Passengers
|
1,386,149
|
1,256,712
|
10.3 %
|
Available seat miles
(000)
|
1,444,626
|
1,306,860
|
10.5 %
|
Departures
|
9,567
|
9,294
|
2.9 %
|
Average stage length
(miles)
|
855
|
824
|
3.8 %
|
Scheduled Service – Year Over Year Comparison
|
August 2022
|
August 2021
|
Change
|
Passengers
|
1,379,071
|
1,179,414
|
16.9 %
|
Revenue passenger miles
(000)
|
1,223,427
|
1,021,613
|
19.8 %
|
Available seat miles
(000)
|
1,408,597
|
1,377,398
|
2.3 %
|
Load factor
|
86.9 %
|
74.2 %
|
12.7pts
|
Departures
|
9,287
|
9,451
|
(1.7 %)
|
Average stage length
(miles)
|
859
|
835
|
2.9 %
|
Total System* - Year Over Year
Comparison
|
August 2022
|
August 2021
|
Change
|
Passengers
|
1,386,149
|
1,185,944
|
16.9 %
|
Available seat miles
(000)
|
1,444,626
|
1,408,554
|
2.6 %
|
Departures
|
9,567
|
9,725
|
(1.6 %)
|
Average stage length
(miles)
|
855
|
830
|
3.0 %
|
*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
|
August 2022 estimated
average fuel cost per gallon – system
|
$3.66
|
|
|
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@allegiantair.com
|
|
email:
ir@allegiantair.com
|
1 Year over three-year percentage changes compare
2022 to 2019
2 Operating CASM, excluding fuel, excludes the impact of
excess profit sharing
3 The loss on extinguishment of debt is a one-time,
non-operating charge related to the refinancing of the Term Loan B
in August of 2022
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SOURCE Allegiant Travel Company