Welcome to our dedicated page for Allegiant Travel Co news (Ticker: ALGT), a resource for investors and traders seeking the latest updates and insights on Allegiant Travel Co stock.
Allegiant Travel Company (NASDAQ: ALGT) is an innovative travel enterprise that extends far beyond its identity as an airline. Founded in 1997 in Fresno, California, the company has since redefined affordable travel by connecting small U.S. cities to premier leisure destinations including Florida, Las Vegas, Phoenix, California, Hawaii, and Myrtle Beach, S.C. Allegiant offers a wide range of low-cost travel packages that encompass air travel, hotel accommodations, rental cars, and entertainment tickets. Despite a challenging early history that included a bankruptcy filing in December 2000, Allegiant was revitalized under the leadership of Maurice J. Gallagher Jr., who transitioned the company to a low-cost model and relocated its headquarters to Las Vegas in 2001.
Allegiant's unique business model has allowed it to achieve continuous profitability since 2003, navigating industry challenges such as fluctuating fuel costs and economic instability. The airline's strategy focuses on providing nonstop flights, eliminating the need for layovers and connections, which sets it apart from competitors. This approach has earned Allegiant numerous accolades, including recognition from The Wall Street Journal and J.D. Power for outstanding customer satisfaction.
In addition to air travel, Allegiant's operations extend to various segments, including the Sunseeker Resort in Florida and other non-airline ventures. The company also offers fixed-fee flying arrangements for charter services, along with sales of hotel rooms, ground transportation, and entertainment tickets. The airline's extensive network of over 550 routes offers affordable, nonstop flights that make air travel accessible to a broader audience.
Allegiant's commitment to customer experience is further evidenced by its industry-leading baggage handling and zero involuntary bumping of passengers in 2023. The company also recently introduced a new Spring inflight menu designed to enhance the onboard experience with a variety of new food and beverage options.
The company's dedication to excellence extends to its workforce as well. Allegiant recently reached a new five-year labor agreement with its flight attendants, which includes significant wage increases and numerous quality-of-life improvements. This agreement underscores Allegiant's commitment to its employees and their vital role in the company's success.
Allegiant also values its partnerships and collaborations. The company has entered a multi-year marketing agreement with Travel + Leisure Co., aimed at growing customer engagement through cross-company promotions. This partnership is set to enhance the travel experiences of both companies' customer bases.
For investors and those interested in the latest updates, Allegiant's financial performance remains robust. The company reported a preliminary passenger traffic decrease for April 2024 but continues to project strong performance for the year with various strategic initiatives in place to optimize operations and customer experience.
Allegiant Travel Company (NASDAQ: ALGT) has released its preliminary passenger traffic results for January 2025. The Las Vegas-based integrated travel company, known for connecting small-to-medium cities with vacation destinations through all-nonstop flights, maintains base airfares at less than half the cost of average domestic roundtrip tickets.
Note: The press release does not provide specific traffic metrics or financial results despite mentioning them in the title.
Allegiant Travel Company (ALGT) reported mixed fourth quarter and full-year 2024 results. The company posted a Q4 GAAP diluted loss of $(12.00) per share, but achieved adjusted airline-only earnings of $3.00 per share. Total operating revenue increased 2.7% to $627.7M in Q4.
Key highlights include record ancillary revenue of $78.43 per passenger (up 7.4% YoY) and improved aircraft utilization during holiday periods. However, the company recorded a significant one-time impairment charge of $322M related to Sunseeker Resort.
For 2025, ALGT plans a 17% capacity increase and expects to take delivery of 9 MAX aircraft. The company projects full-year airline-only EPS of $9.00 (excluding special charges), representing a 50% increase from 2024. ALGT has also launched a process to sell at least a majority interest in Sunseeker Resort.
Allegiant Travel Company (NASDAQ: ALGT) has released its December 2024 traffic report, showing mixed results across different timeframes. December 2024 saw significant year-over-year growth with passenger traffic up 13.9% to 1,544,874 passengers, and departures increasing by 16.7%. However, the load factor decreased slightly by 1.1 points to 81.4%.
The fourth quarter and full-year 2024 results showed some challenges, with passenger numbers declining by 3.5% and 2.2% respectively compared to 2023. The company's load factor also decreased across both periods, dropping 3.1 points in Q4 and 2.3 points for the full year. The system's fuel costs were reported at $2.47 per gallon in December 2024, with a full-year average of $2.76 per gallon.
Allegiant Travel Company (NASDAQ: ALGT) has announced its upcoming fourth quarter and full-year 2024 financial results conference call, scheduled for Tuesday, February 4 at 4:30 p.m. EST. The call will be accessible through a live broadcast on the company's Investor Relations website, with an archived version available in the 'Events & Presentations' section.
Allegiant Air, operating since 1999, specializes in providing all-nonstop flights connecting small-to-medium cities to vacation destinations with industry-low average fares. The company positions itself as an integrated travel company offering base airfares at less than half the cost of the average domestic roundtrip ticket.
Allegiant Travel Company (NASDAQ: ALGT) reported strong November 2024 traffic results, with booking trends exceeding initial expectations. Post-hurricane demand recovery has been faster than anticipated, and Thanksgiving week TRASM performed on par with the previous year. The company revised its Q4 TRASM forecast to -1.5% year-over-year (vs. initial -4.5%) on 1.8% capacity growth.
The company received two additional 737-MAX aircraft in November and expects to end 2024 with four MAX aircraft in service, bringing the total fleet to 125. A Q4 sale of underutilized CFM engines resulted in a $15 million gain. The company updated its Q4 guidance, projecting airline-only operating margin of 13-14% and consolidated earnings per share of $1.75-$2.25, excluding special charges.
Allegiant Travel Company (NASDAQ: ALGT) announced its largest service expansion, introducing 44 new nonstop routes and adding three new cities to its network: Gulf Shores (Alabama), Colorado Springs (Colorado), and Columbia (South Carolina). Starting February 2025, the expansion will serve 51 cities with introductory one-way fares starting as low as $39. The expansion includes new routes connecting various destinations across the United States, focusing on providing affordable air service to underserved communities with or no air service. The company's strategy targets periods of strong leisure demand such as holidays, summer, weekends, and school breaks.
Allegiant Travel Company (ALGT) reported significant traffic decline in October 2024 due to hurricanes Helene and Milton. Nearly 1,000 flights were canceled between late September and early January, with about two-thirds occurring in October. The company saw a 17% decrease in passengers to 1,168,344, while revenue passenger miles dropped 15.7%. Load factor decreased by 5.2 points to 78.5%. The system-wide available seat miles declined 9.2%, with departures down 9.9%. The estimated average fuel cost was $2.52 per gallon. However, post-election booking trends indicate a faster-than-expected recovery in affected areas.
Allegiant Travel Company (NASDAQ: ALGT) reported a third quarter 2024 GAAP diluted loss per share of $(2.05). Total operating revenue was $562.2M, down 0.6% year-over-year, with operating loss at $(26.3M). The airline segment showed a 2.9% decrease in revenue to $549.1M. Despite challenges from hurricanes and operational disruptions, the company achieved positive aspects including a 3.1% increase in ancillary fare to $74.02 and 15.9% growth in fixed fee contract revenue to $20.6M. Total available liquidity stood at $1.1B, including $804.6M in cash and investments.
Allegiant Travel Company (NASDAQ: ALGT) has reported its preliminary passenger traffic results for September 2024 and the third quarter of 2024. Key points include:
- Scheduled service passengers decreased by 1.9% in September 2024 compared to September 2023
- Third quarter 2024 saw a 0.9% decrease in passengers compared to Q3 2023
- Load factor for September 2024 increased by 0.5 percentage points to 83.3%
- Q3 2024 load factor decreased by 1.9 percentage points to 85.6%
- Total system passengers decreased by 2.4% in September 2024 and 0.8% in Q3 2024 year-over-year
- Estimated average fuel cost per gallon for September 2024 was $2.49, and $2.69 for Q3 2024
Allegiant Travel Company (NASDAQ: ALGT) has announced its third quarter 2024 financial results conference call, scheduled for Wednesday, October 30 at 4:30 p.m. EDT. The call will be broadcast live through the company's Investor Relations website at http://ir.allegiantair.com, where it will also be archived in the 'Events & Presentations' section.
Allegiant Air, a Las Vegas-based integrated travel company, focuses on connecting customers from small-to-medium cities to vacation destinations with all-nonstop flights and industry-low average fares. The airline boasts base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit Allegiant.com.
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