Allegiant Reports February 2021 Traffic

Rhea-AI Summary

Allegiant Travel Company (NASDAQ: ALGT) reported February 2021 passenger traffic results indicating a 43.4% year-over-year decline in passengers, totaling 679,906. Despite this, the company observed a moderate increase in travel demand, leading to a 6% rise in available seat miles (ASMs) from February 2019. Expectations for first-quarter total revenue suggest a decline of 35-40% compared to the same period two years prior, which is an improvement over the previous quarter. Average fuel costs were estimated at $1.83 per gallon for February 2021.

Positive

• Increase in travel demand noted.
• ASMs up by 6% from February 2019.
• First-quarter capacity expected to rise between 2.0% and 4.5% compared to the first quarter of 2019.

Negative

• Passengers down 43.4% year-over-year.
• Total revenue expected to decline 35-40% year-over-two-year basis.

LAS VEGAS, March 9, 2021 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for February 2021.

"Over the last month, we have been pleased to see a moderate increase in travel demand," stated Drew Wells, senior vice president, revenue. "We met the increase in demand with increased supply, with February ASMs up roughly 6 percent from February of 2019, focusing on total revenue and profitability rather than unit metrics like load factor. We expect first quarter total revenue to be down between 35 and 40 percent on a year over two-year basis, a significant improvement over the fourth quarter. First quarter capacity is expected to be up between 2.0 and 4.5 percent, when compared to the first quarter of 2019, but we will continue to refine as dictated by demand."

Scheduled Service

	February 2021	February 2020	Change
Passengers	679,906	1,200,606	(43.4%)
Revenue passenger miles (000)	636,119	1,120,943	(43.3%)
Available seat miles (000)	1,203,720	1,370,619	(12.2%)
Load factor	52.8%	81.8%	(29.0pts)
Departures	7,630	8,784	(13.1%)
Average stage length (miles)	907	902	0.6%

                                                                        Total System*

	February 2021	February 2020	Change
Passengers	680,930	1,207,325	(43.6%)
Available seat miles (000)	1,223,407	1,405,458	(13.0%)
Departures	7,783	9,059	(14.1%)
Average stage length (miles)	904	898	0.7%

*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 2021 estimated average fuel cost per gallon – system	$1.83

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:
Hilarie Grey
email: mediarelations@allegiantair.com

Investor Inquiries:
Sherry Wilson
email: ir@allegiantair.com

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SOURCE Allegiant Travel Company

FAQ

What were Allegiant Travel Company's passenger traffic results for February 2021?

Allegiant reported 679,906 passengers in February 2021, down 43.4% from the previous year.

How did Allegiant's available seat miles change in February 2021?

Available seat miles increased by approximately 6% compared to February 2019.

What is the expected total revenue decline for Allegiant in the first quarter of 2021?

Total revenue is expected to decline between 35% and 40% compared to the first quarter two years ago.

What was the estimated average fuel cost for Allegiant in February 2021?

The estimated average fuel cost per gallon was $1.83 in February 2021.

What is the outlook on capacity for Allegiant in the first quarter of 2021?

Capacity is expected to increase by 2.0% to 4.5% compared to the first quarter of 2019.