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) generates a steady flow of news as a leisure-focused airline and integrated travel company based in Las Vegas, Nevada. This news page aggregates press releases and media coverage related to Allegiant’s scheduled passenger air transportation business, financial performance, network expansion, and strategic initiatives, giving readers a central place to review the latest developments affecting ALGT stock and the company’s operations.
Allegiant’s news often highlights its role in connecting small and mid-sized cities to world-class vacation destinations with all-nonstop flights and low average fares. Regular traffic updates provide monthly and quarterly statistics on passengers, revenue passenger miles, available seat miles, load factor, and departures for both scheduled service and total system flying, including fixed-fee contract operations. Earnings releases detail consolidated and airline-only results, non-GAAP measures such as adjusted operating margin and adjusted earnings per share, capital expenditures, liquidity, and debt management actions.
Readers can also expect news about Allegiant’s network and product offerings. The company frequently announces new nonstop routes and entry into new markets, such as its 2025 announcement of 30 new routes connecting 35 cities, including La Crosse, Philadelphia, Trenton, and Columbia. Other stories cover customer-experience initiatives like the launch of Altus Sol, a custom-crafted wine designed for consumption at cruising altitude, and promotional campaigns including Cyber Monday and Travel Tuesday sales and Allways Rewards bonus point offers.
Corporate and strategic updates are another key news category. Allegiant issues releases and files Form 8-Ks on leadership changes, such as the designation of a new President and promotions within its finance and integration teams. It also reports on financing arrangements, including amendments to revolving credit facilities and aircraft loan borrowings, as well as corporate transactions like the sale of Sunseeker Resort Charlotte Harbor and the definitive merger agreement to acquire Sun Country Airlines. Investors and followers of ALGT can use this page to review these updates in one place and revisit prior announcements for context.
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Allegiant Travel Company (NASDAQ: ALGT) has launched a new initiative called the Accelerate Pilot Pathway, aimed at university students aspiring to become pilots. The program focuses on sophomores, juniors, and seniors enrolled in universities with Part 141 flight training programs, such as Purdue University, Kent State University, and Western Michigan University. Allegiant's goal is to address the industry's pilot staffing shortage by providing mentorship, conditional employment, and support with regulatory credentials. Students entering their senior year may receive a conditional job offer as an Allegiant first officer, which includes various employee benefits. The program began at Purdue University in April 2023 and is set to expand to other universities throughout the summer.
Allegiant Travel Company (NASDAQ: ALGT) will hold its first quarter 2023 financial results conference call on May 3, 2023, at 12:30 p.m. EST. Investors can access the live broadcast via the company's Investor Relations website, where the call will be archived for later viewing. Allegiant, based in Las Vegas, provides affordable, nonstop flights linking small-to-medium cities with major vacation destinations. Since its inception in 1999, the airline has focused on offering low fares, significantly below the average domestic roundtrip ticket prices.
O’Charley’s Restaurant + Bar is celebrating its 50th Anniversary from April 10 to May 7 with various promotions aimed at enhancing customer engagement. This includes the much-anticipated return of Kids Eat Free throughout the celebration period. Guests can also participate in the 50th AnnO’versary Sweepstakes, offering grand prizes including a trip to
Allegiant Travel Company (NASDAQ: ALGT) announced its preliminary passenger traffic results for March 2023, showcasing an increase in passengers year-over-year. The total number of passengers reached 1,676,400, a 0.6% increase from March 2022. However, revenue passenger miles decreased by 0.3% to 1,589,454,000 and available seat miles fell by 2.2% to 1,802,132,000. The load factor improved to 88.2%, up by 1.7 points compared to the prior year. For the first quarter of 2023, total passengers increased by 11.1% to 4,122,196, with revenue passenger miles growing by 10.3%. Estimated average fuel cost increased to $3.42 per gallon for Q1 2023, compared to $3.09 in March 2023.
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Crédit Agricole CIB has successfully closed a $100 million Senior Secured Revolving Credit Facility with Allegiant Travel Company (NASDAQ: ALGT), enhancing the airline's liquidity and support for its fleet investments. This financing marks an extension of their relationship established in 2015. The facility's structure includes a new requirement for Allegiant to secure a portion of its borrowing base with new technology assets as it takes delivery of Boeing 737 MAX aircraft and LEAP 1B engines over the next three years. This move aligns with Allegiant's ongoing ESG initiatives, emphasizing a commitment to reducing emissions in its operations.
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