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.
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
SOURCE Allegiant Travel Company
