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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Allegiant Reports June 2021 Traffic

July 13, 2021 GMT

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.”

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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

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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