Allegiant Reports March 2021 Traffic

Rhea-AI Summary

Allegiant Travel Company (NASDAQ: ALGT) reported preliminary passenger traffic results for March 2021. Passenger counts decreased by 26.2% compared to March 2019, with 1,095,572 passengers. However, March 2021 showed an increase of 22.7% over March 2020. Average daily bookings exceeded pre-pandemic levels, improving revenue expectations. Allegiant’s capacity increased by approximately 14% in March, while adjusted CASM, excluding fuel, is expected to decline by 3-4% year-over-two-year. The company remains optimistic for the upcoming peak summer travel season.

Positive

• Average daily bookings in March exceeded pre-pandemic levels.
• Capacity increased by approximately 14% compared to March 2019.
• Expected decline in adjusted CASM by 3-4% year-over-two-year.
• Positive EPS and EBITDA generated for March, excluding payroll support grant.

Negative

• Passenger counts down 26.2% compared to March 2019.
• Load factor decreased by 30.3 percentage points from March 2019.

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

"We are encouraged by the meaningful improvement in customer demand throughout the month of March," stated Gregory Anderson, executive vice president and chief financial officer. "Average daily bookings for the month exceeded average daily bookings during the same time period in 2019. The significant improvement in March demand coupled with our industry-leading cost structure enabled us to generate positive EPS and EBITDA for the month of March, excluding the benefit from the payroll support grant. For the March quarter, we expect adjusted¹ CASM, excluding fuel, to be down 3 to 4 percent, year over two-year."

"Capacity was up roughly three percent, when compared to 2019, with March capacity up 14 percent," stated Drew Wells, senior vice president, revenue. "Although this caused some load pressure, our focus remains on generating positive cash flows and optimizing profits. We continue to expect first quarter total revenue to fall in the middle of our previous guide of down 35 to 40 percent, when compared with 2019. We remain optimistic about peak summer travel. With national vaccination rates steadily increasing and average daily bookings trending in the right direction, we expect sequential revenue improvements into the second quarter."

¹ Adjusted to exclude the impact of the payroll support grant.

Scheduled Service – Year Over Two-Year Comparison
	March 2021	March 2019	Change
Passengers	1,095,572	1,484,326	(26.2%)
Revenue passenger miles (000)	1,022,480	1,386,501	(26.3%)
Available seat miles (000)	1,832,250	1,610,575	13.8%
Load factor	55.8%	86.1%	(30.3 pts)
Departures	11,710	10,297	13.7%
Average stage length (miles)	899	914	(1.6%)
	1st Quarter 2021	1st Quarter 2019	Change
Passengers	2,323,302	3,421,538	(32.1%)
Revenue passenger miles (000)	2,166,417	3,191,045	(32.1%)
Available seat miles (000)	3,921,090	3,802,132	3.1%
Load factor	55.3%	83.9%	(28.6pts)
Departures	24,947	24,344	2.5%
Average stage length (miles)	902	908	(0.7%)

 

Total System* - Year Over Two-Year Comparison
	March 2021	March 2019	Change
Passengers	1,102,869	1,499,688	(26.5%)
Available seat miles (000)	1,884,130	1,655,330	13.8%
Departures	12,144	10,660	13.9%
Average stage length (miles)	892	908	(1.8%)

 

	1st Quarter 2021	1st Quarter 2019	Change
Passengers	2,334,503	3,450,278	(32.3%)
Available seat miles (000)	4,013,989	3,910,239	2.7%
Departures	25,684	25,200	1.9%
Average stage length (miles)	898	904	(0.7%)

 

Scheduled Service – Year Over Year Comparison
	March 2021	March 2020	Change
Passengers	1,095,572	892,966	22.7%
Revenue passenger miles (000)	1,022,480	839,766	21.8%
Available seat miles (000)	1,832,250	1,413,348	29.6%
Load factor	55.8%	59.4%	(3.6 pts)
Departures	11,710	8,926	31.2%
Average stage length (miles)	899	914	(1.6%)
	1st Quarter 2021	1st Quarter 2020	Change
Passengers	2,323,302	3,154,606	(26.4%)
Revenue passenger miles (000)	2,166,417	2,925,482	(25.9%)
Available seat miles (000)	3,921,090	3,964,009	(1.1%)
Load factor	55.3%	73.8%	(18.5pts)
Departures	24,947	25,484	(2.1%)
Average stage length (miles)	902	900	0.2%

 

Total System* - Year Over Year Comparison
	March 2021	March 2020	Change
Passengers	1,102,869	898,986	22.7%
Available seat miles (000)	1,884,130	1,441,144	30.7%
Departures	12,144	9,172	32.4%
Average stage length (miles)	892	908	(1.8%)

 

	1st Quarter 2021	1st Quarter 2020	Change
Passengers	2,334,503	3,175,450	(26.5%)
Available seat miles (000)	4,013,989	4,067,671	(1.3%)
Departures	25,684	26,312	(2.4%)
Average stage length (miles)	898	895	0.3%

 

*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
March 2021 estimated average fuel cost per gallon – system	$1.99
	$ per gallon
1st quarter 2021 estimated average fuel cost per gallon – system	$1.86

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:		Investor Inquiries:
Hilarie Grey		Sherry Wilson
email: mediarelations@allegiantair.com		email: ir@allegiantair.com

 

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SOURCE Allegiant Travel Company

FAQ

What were Allegiant's passenger traffic results for March 2021?

Allegiant reported 1,095,572 passengers in March 2021, down 26.2% from March 2019.

How did March 2021 compare to March 2020 for Allegiant?

March 2021 saw a 22.7% increase in passengers compared to March 2020.

What is the expected adjusted CASM for Allegiant in the first quarter of 2021?

Adjusted CASM, excluding fuel, is expected to decline by 3-4% year-over-two-year.

What is the outlook for Allegiant's revenue in the second quarter of 2021?

Allegiant is optimistic about revenue improvements driven by increased vaccination rates and bookings.

How did Allegiant's load factor change in March 2021?

The load factor in March 2021 was 55.8%, down 30.3 percentage points compared to March 2019.