LAS VEGAS, March 29, 2024 /PRNewswire/ -- Allegiant
Travel Company (NASDAQ: ALGT) today reported preliminary
passenger traffic results for February
2024.
"First quarter demand continued the trend of outperformance
during peak weeks offset by a normalized off-peak demand profile,"
stated Drew Wells, Allegiant chief
revenue officer. "Unitized revenue during the last two weeks of
March exceeded prior year, highlighting continued demand strength.
First quarter TRASM will come in slightly lower than initial
expectations, up roughly .5 percent sequentially from the fourth
quarter of 2023. This is predominantly due to a slightly weaker
than expected lead up to the Spring Break period. While we
communicated the shift of Spring Breaks to the back half of the
month, results were softer than we anticipated in those few lead up
weeks. Second quarter capacity considers this normalization with
April capacity down 10 percent year over year, accounting for the
Easter shift forward. Additionally, June aircraft utilization is
currently on par with 2018 levels to optimize capacity during our
seasonally strong summer peaks. Early bookings into June, coupled
with peak demand trends observed during the first quarter, suggest
continued demand strength into peak summer travel
periods."
Scheduled Service –
Year Over Year Comparison
|
|
|
February
2024
|
February
2023
|
Change
|
Passengers
|
1,243,576
|
1,242,555
|
0.1 %
|
Revenue passenger miles
(000)
|
1,194,104
|
1,189,402
|
0.4 %
|
Available seat miles
(000)
|
1,421,672
|
1,393,065
|
2.1 %
|
Load factor
|
84.0 %
|
85.4 %
|
(1.4)
pts
|
Departures
|
8,556
|
8,537
|
0.2 %
|
Average stage length
(miles)
|
933
|
921
|
1.3 %
|
Total System* - Year
Over Year Comparison
|
|
February
2024
|
February
2023
|
Change
|
Passengers
|
1,253,860
|
1,250,293
|
0.3 %
|
Available seat miles
(000)
|
1,456,189
|
1,424,778
|
2.2 %
|
Departures
|
8,846
|
8,775
|
0.8 %
|
Average stage length
(miles)
|
924
|
916
|
0.9 %
|
|
|
|
|
*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
|
February 2024 estimated
average fuel cost per gallon – system
|
$3.16
|
|
|
|
|
Updated Quarterly
Guidance
|
|
$ per gallon
|
Estimated first quarter
2024 average fuel cost per gallon – system
|
$3.02
|
|
|
|
|
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 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:
|
Sonya
Padgett
|
|
Sherry
Wilson
|
email:
mediarelations@allegiantair.com
|
|
email:
ir@allegiantair.com
|
Category: News
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SOURCE Allegiant Travel Company