LAS VEGAS, July 13, 2021 /PRNewswire/ -- Allegiant
Travel Company (NASDAQ: ALGT) today reported preliminary
passenger traffic results for June
2021 as well as second quarter 2021.
"Demand strength persisted throughout the quarter with average
daily bookings in excess of the same time period in 2019," stated
Gregory Anderson, executive vice
president and chief financial officer. "We continued to see load
factor improvement throughout June with a nearly 10-point increase
from May on year over two-year capacity growth of roughly 14
percent. Given the demand strength, scheduled service revenue,
excluding fixed fee and other revenue, is estimated to be
$467 million, down 1.3 percent when
compared with 2019. This is better than initial expectations due to
significantly increased breakage revenue1 related to the
elevated issuance of credit vouchers throughout the pandemic as
well as sustained yield strength throughout the quarter. Excluding
breakage, yield was up nearly two percent when compared with the
second quarter of 2019. Given the revenue strength observed
throughout the quarter, we estimate an adjusted EBITDA
margin2 of roughly 29 percent. Additional updates to
guidance are included in the table below."
|
Previous
|
Current
|
Scheduled service
revenue - year over two-year change, excluding fixed fee
and other revenue
|
Down 6 to
10%
|
Down
1.3%3
|
Total operating revenue - year
over two-year change
|
N/A
|
Down 4.0%
|
Fuel cost per
gallon
|
$1.99
|
$2.02
|
Weighted average
share count for the second quarter
|
16.2
million
|
17.1
million
|
1 Breakage
accounts for just below five percent of scheduled service
revenue.
2 Adjusted to exclude impacts from the CARES Act and
profit sharing.
3 The removal of incremental breakage results in a year
over two-year decrease to scheduled service revenue of
approximately 6.3 percent.
|
Scheduled Service
– Year Over Two-Year Comparison
|
|
|
June 2021
|
June 2019
|
Change
|
Passengers
|
1,630,204
|
1,594,128
|
2.3%
|
Revenue passenger
miles (000)
|
1,395,232
|
1,355,240
|
3.0%
|
Available seat miles
(000)
|
1,794,848
|
1,576,993
|
13.8%
|
Load
factor
|
77.7%
|
85.9%
|
(8.2
pts)
|
Departures
|
12,416
|
11,176
|
11.1%
|
Average stage length
(miles)
|
828
|
828
|
0.0%
|
|
|
|
|
|
2nd Quarter 2021
|
2nd Quarter 2019
|
Change
|
Passengers
|
3,680,254
|
4,131,855
|
(10.9%)
|
Revenue passenger
miles (000)
|
3,188,215
|
3,603,076
|
(11.5%)
|
Available seat miles
(000)
|
4,505,786
|
4,311,182
|
4.5%
|
Load
factor
|
70.8%
|
83.6%
|
(12.8pts)
|
Departures
|
30,763
|
29,567
|
4.0%
|
Average stage length
(miles)
|
842
|
853
|
(1.3%)
|
|
Total System* -
Year Over Two-Year Comparison
|
|
|
June 2021
|
June 2019
|
Change
|
Passengers
|
1,635,716
|
1,606,651
|
1.8%
|
Available seat miles
(000)
|
1,821,104
|
1,618,098
|
12.5%
|
Departures
|
12,642
|
11,478
|
10.1%
|
Average stage length
(miles)
|
825
|
827
|
(0.2%)
|
|
|
|
|
|
2nd Quarter 2021
|
2nd
Quarter 2019
|
Change
|
Passengers
|
3,699,217
|
4,169,536
|
(11.3%)
|
Available seat miles
(000)
|
4,594,542
|
4,447,066
|
3.3%
|
Departures
|
31,507
|
30,547
|
3.1%
|
Average stage length
(miles)
|
838
|
853
|
(1.8%)
|
|
|
|
|
|
Scheduled Service
– Year Over Year Comparison
|
|
|
June 2021
|
June 2020
|
Change
|
Passengers
|
1,630,204
|
867,207
|
88.0%
|
Revenue passenger
miles (000)
|
1,395,232
|
745,608
|
87.1%
|
Available seat miles
(000)
|
1,794,848
|
1,301,559
|
37.9%
|
Load
factor
|
77.7%
|
57.3%
|
20.4
pts
|
Departures
|
12,416
|
8,940
|
38.9%
|
Average stage length
(miles)
|
828
|
846
|
(2.1%)
|
|
|
|
|
|
2nd
Quarter 2021
|
2nd
Quarter 2020
|
Change
|
Passengers
|
3,680,254
|
1,266,077
|
190.7%
|
Revenue passenger
miles (000)
|
3,188,215
|
1,107,534
|
187.9%
|
Available seat miles
(000)
|
4,505,786
|
2,174,683
|
107.2%
|
Load
factor
|
70.8%
|
50.9%
|
19.9pts
|
Departures
|
30,763
|
14,683
|
109.5%
|
Average stage length
(miles)
|
842
|
855
|
(1.5%)
|
|
Total System* -
Year Over Year Comparison
|
|
|
June 2021
|
June 2020
|
Change
|
Passengers
|
1,635,716
|
868,927
|
88.2%
|
Available seat miles
(000)
|
1,821,104
|
1,315,304
|
38.5%
|
Departures
|
12,642
|
9,105
|
38.8%
|
Average stage length
(miles)
|
825
|
839
|
(1.7%)
|
|
|
|
|
|
2nd
Quarter 2021
|
2nd
Quarter 2020
|
Change
|
Passengers
|
3,699,217
|
1,273,258
|
190.5%
|
Available seat miles
(000)
|
4,594,542
|
2,220,755
|
106.9%
|
Departures
|
31,507
|
15,089
|
108.8%
|
Average stage length
(miles)
|
838
|
850
|
(1.4%)
|
|
*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
|
June 2021 estimated
average fuel cost per gallon – system
|
$2.11
|
|
|
|
$ per
gallon
|
2nd
quarter 2021 estimated average fuel cost per gallon –
system
|
$2.02
|
|
|
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 all-Airbus 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 may 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:
|
Hilarie
Grey
|
|
Sherry
Wilson
|
email:
mediarelations@allegiantair.com
|
|
email:
ir@allegiantair.com
|
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SOURCE Allegiant Travel Company