LAS VEGAS, July 25, 2022 /PRNewswire/ — Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for June 2022 as well as second quarter 2022.
“Total revenue for the second quarter was roughly $629 million, up 28 percent from 2019,” stated Drew Wells, senior vice president, revenue. “Demand strength persisted throughout the quarter resulting in TRASM increases of over 15 percent, year over three-year, on capacity growth in excess of 13 percent, when compared with 2019. The month of June was particularly strong with TRASM up roughly 20 percent for the month, year over three-year. July TRASM is currently trending in-line with June yielding similar year over three-year percentage increases. In addition, we expect July’s load factor to come in slightly higher than June’s result of 90 percent.”
“Second quarter CASM, excluding fuel and 2022 employee recognition bonus, was up 14 percent year over three-year, in-line with our prior guidance,” stated Gregory Anderson, executive vice president, chief financial officer. “Our fuel cost per gallon was $4.32, slightly above our previous guidance. This increase in fuel price coupled with a slight reduction in fuel efficiency from the first quarter, attributable to a more than eight-point increase in load factor, resulted in roughly $9 million in incremental fuel expense for the quarter. Based on the above results, we expect an earnings per share, excluding 2022 employee recognition bonus, of roughly $0.62 for the second quarter.”
|
Scheduled Service – Year Over Three-Year Comparison |
|||
|
June 2022 |
June 2019 |
Change |
|
|
Passengers |
1,740,643 |
1,594,128 |
9.2 % |
|
Revenue passenger miles (000) |
1,555,121 |
1,355,240 |
14.7 % |
|
Available seat miles (000) |
1,729,925 |
1,576,993 |
9.7 % |
|
Load factor |
89.9 % |
85.9 % |
4.0 pts |
|
Departures |
11,274 |
11,176 |
0.9 % |
|
Average stage length (miles) |
870 |
828 |
5.1 % |
|
2nd Quarter 2022 |
2nd Quarter 2019 |
Change |
|
|
Passengers |
4,711,001 |
4,131,855 |
14.0 % |
|
Revenue passenger miles (000) |
4,267,828 |
3,603,076 |
18.4 % |
|
Available seat miles (000) |
4,888,539 |
4,311,182 |
13.4 % |
|
Load factor |
87.3 % |
83.6 % |
3.7 pts |
|
Departures |
31,402 |
29,567 |
6.2 % |
|
Average stage length (miles) |
883 |
853 |
3.5 % |
|
Total System* – Year Over Three-Year Comparison |
|||
|
June 2022 |
June 2019 |
Change |
|
|
Passengers |
1,748,655 |
1,606,651 |
8.8 % |
|
Available seat miles (000) |
1,759,467 |
1,618,098 |
8.7 % |
|
Departures |
11,484 |
11,478 |
0.1 % |
|
Average stage length (miles) |
869 |
827 |
5.1 % |
|
2nd Quarter 2022 |
2nd Quarter 2019 |
Change |
|
|
Passengers |
4,740,399 |
4,169,536 |
13.7 % |
|
Available seat miles (000) |
4,990,086 |
4,447,066 |
12.2 % |
|
Departures |
32,138 |
30,547 |
5.2 % |
|
Average stage length (miles) |
881 |
853 |
3.3 % |
|
Scheduled Service – Year Over Year Comparison |
|||
|
June 2022 |
June 2021 |
Change |
|
|
Passengers |
1,740,643 |
1,630,204 |
6.8 % |
|
Revenue passenger miles (000) |
1,555,121 |
1,395,232 |
11.5 % |
|
Available seat miles (000) |
1,729,925 |
1,794,848 |
(3.6 %) |
|
Load factor |
89.9 % |
77.7 % |
12.2 pts |
|
Departures |
11,274 |
12,416 |
(9.2 %) |
|
Average stage length (miles) |
870 |
828 |
5.1 % |
|
2nd Quarter 2022 |
2nd Quarter 2021 |
Change |
|
|
Passengers |
4,711,001 |
3,680,254 |
28.0 % |
|
Revenue passenger miles (000) |
4,267,828 |
3,188,215 |
33.9 % |
|
Available seat miles (000) |
4,888,539 |
4,505,786 |
8.5 % |
|
Load factor |
87.3 % |
70.8 % |
16.5 pts |
|
Departures |
31,402 |
30,763 |
2.1 % |
|
Average stage length (miles) |
883 |
842 |
4.9 % |
|
Total System* – Year Over Year Comparison |
|||
|
June 2022 |
June 2021 |
Change |
|
|
Passengers |
1,748,655 |
1,635,716 |
6.9 % |
|
Available seat miles (000) |
1,759,467 |
1,821,104 |
(3.4 %) |
|
Departures |
11,484 |
12,642 |
(9.2 %) |
|
Average stage length (miles) |
869 |
825 |
5.3 % |
|
2nd Quarter 2022 |
2nd Quarter 2021 |
Change |
|
|
Passengers |
4,740,399 |
3,699,217 |
28.1 % |
|
Available seat miles (000) |
4,990,086 |
4,594,542 |
8.6 % |
|
Departures |
32,138 |
31,507 |
2.0 % |
|
Average stage length (miles) |
881 |
838 |
5.1 % |
*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 2022 estimated average fuel cost per gallon – system |
$4.40 |
|
$ per gallon |
|
|
2nd quarter 2022 estimated average fuel cost per gallon – system |
$4.32 |
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.
SOURCE Allegiant Travel Company
