Allegiant Reports November 2020 Traffic

Rhea-AI Summary

Allegiant Travel Company (NASDAQ: ALGT) has reported preliminary traffic results for November 2020, revealing a 38% decrease in passengers compared to November 2019, totaling 682,976. Average daily bookings dropped from $3 million in October to $2.2 million in November due to rising COVID-19 cases and new travel restrictions. The load factor fell to 57.6%, down 22.8 percentage points from the prior year, while available seat miles decreased by 13.6%. Despite these challenges, Allegiant anticipates a 15% reduction in fourth-quarter capacity compared to last year.

Positive

• Fourth-quarter capacity reductions expected to be approximately 15% compared to the previous year.

Negative

• Passenger numbers decreased by 38% year-over-year.
• Average daily bookings fell from $3 million in October to $2.2 million in November.
• Load factor at 57.6%, down 22.8 percentage points from the previous year.
• Available seat miles decreased by 13.6%.

LAS VEGAS, Dec. 9, 2020 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for November 2020.

"Over the course of the last several weeks, we have seen a deceleration of bookings coupled with an increase in cancellations related to recent surges in COVID-19 cases and new travel restrictions," stated Drew Wells, vice president of revenue. "Average daily bookings were roughly $3 million during the month of October, whereas November daily bookings averaged roughly $2.2 million. There continues to be a divergence in terms of strength between peak travel periods and non-peak periods, with peak days showing far more resiliency, a trend expected to hold through the Christmas holiday. We continue to approach demand as we have since the onset of the pandemic by maintaining a wide selling presence and cutting capacity as dictated by demand trends. Despite recent booking weakness, fourth quarter capacity reductions are still expected to be roughly 15 percent as compared with prior year."     

Scheduled Service
	November 2020	November 2019	Change
Passengers	682,976	1,101,346	(38.0%)
Revenue passenger miles (000)	596,377	962,614	(38.0%)
Available seat miles (000)	1,034,482	1,197,831	(13.6%)
Load factor	57.6%	80.4%	(22.8pts)
Departures	6,940	8,189	(15.3%)
Average stage length (miles)	861	857	0.5%
Total System*
	November 2020	November 2019	Change
Passengers	692,327	1,129,065	(38.7%)
Available seat miles (000)	1,065,731	1,255,381	(15.1%)
Departures	7,201	8,739	(17.6%)
Average stage length (miles)	854	841	1.5%

*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
November 2020 estimated average fuel cost per gallon – system	$1.39

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 premier leisure experiences - from vacations to hometown family entertainment. 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 are Allegiant Travel Company's November 2020 passenger traffic results?

Allegiant reported 682,976 passengers in November 2020, a 38% decrease compared to November 2019.

What was the average daily booking for Allegiant in November 2020?

Allegiant's average daily bookings for November 2020 were approximately $2.2 million.

How did Allegiant's load factor change in November 2020?

The load factor for November 2020 was 57.6%, a decrease of 22.8 percentage points from the prior year.

What is the expected capacity reduction for Allegiant in Q4 2020?

Allegiant anticipates a capacity reduction of about 15% in the fourth quarter of 2020 compared to the previous year.

What caused the decline in Allegiant's bookings in November 2020?

The decline in bookings was attributed to rising COVID-19 cases and new travel restrictions.