Allegiant Travel Co Stock Price, News & Analysis

Allegiant (NASDAQ: ALGT) has partnered with the American Red Cross to launch a nationwide blood drive named "Together We Give," running from November 1 to November 30. This initiative aims to support communities in Florida affected by Hurricane Ian, with a goal of 1,500 donations. Allegiant, which serves 10 airports in Florida, previously donated $100,000 to relief efforts. The campaign includes virtual blood drives, volunteer opportunities, and an online donation platform. Allegiant's CEO expressed solidarity with those impacted by the hurricane, emphasizing the importance of community support.

Allegiant Travel Company (NASDAQ: ALGT) reported strong preliminary passenger traffic results for September 2022 and Q3 2022, showcasing a 30.5% increase in passengers compared to September 2019. Load factors reached 88.5%, exceeding pre-pandemic levels. Despite resilient demand, operating costs surged by 13.9%, primarily due to Hurricane Ian's impact, with a forecasted $35 million loss from the event. The company anticipates revenue headwinds from Florida markets in Q4 and is working on insurance claims to mitigate losses. Overall, third quarter results show solid growth but challenges in cost management.

Allegiant Travel Company (NASDAQ: ALGT) announced that its Allegiant World Mastercard® and Allegiant Allways Rewards® were voted the No. 1 Best Airline Credit Card and Best Frequent Flyer Program in USA Today's 10Best 2022 Loyalty/Rewards Readers' Choice Awards. This marks the fourth consecutive year for the credit card. The programs offer unique rewards for leisure travelers, allowing customers to earn points without restrictions. The recognition underscores Allegiant's commitment to customer satisfaction and enhancing travel experiences.

Air Lease Corporation (NYSE: AL) has successfully completed the delivery of a tenth Airbus A320-200 aircraft to Allegiant Air, marking the final delivery of ten used A320s formerly leased to Alaska Airlines. This delivery enhances Allegiant's fleet with modern, fuel-efficient aircraft. In addition, ALC has signed long-term lease agreements with Alaska Airlines for 14 new Boeing 737-9 aircraft, with 11 already delivered. Forward-looking statements suggest further deliveries are expected.

Allegiant (NASDAQ: ALGT) and Viva Aerobus have announced that Mexico's Federal Economic Competition Commission (COFECE) has authorized their Commercial Alliance Agreement. This landmark agreement between two ultra-low-cost carriers aims to enhance low-fare travel between Mexico and the U.S., benefiting travelers with expanded flight options. The alliance includes an equity investment by Allegiant, allowing it to enter the Mexican market as Viva Aerobus strengthens its presence in the U.S. The U.S. Department of Transportation's approval is still pending.

Allegiant Travel Company (NASDAQ: ALGT) will hold its third-quarter 2022 financial results conference call on November 2 at 4:30 p.m. EDT. Investors can access the live broadcast through the company’s Investor Relations website. Allegiant, based in Las Vegas, has been connecting small-to-medium cities to major vacation destinations since 1999, offering all-nonstop flights at industry-low average fares. The company's fleet serves communities nationwide, with base airfares significantly lower than the average domestic roundtrip ticket.

Allegiant Travel Company (NASDAQ: ALGT) reported passenger traffic results for August 2022, showing strong demand post-summer. The company achieved an 11.1% increase in passengers compared to August 2019, with a load factor of 86.9%. Capacity increased by 14.6%. However, Hurricane Ian's impact led to the cancellation of many Florida flights, reducing their revenue guidance by 1.5 percentage points. Allegiant updated its operating performance metrics, predicting a slight decline in full-year revenue growth and an increase in operational costs.

Allegiant has expanded its partnership with Uplift to introduce Allegiant Pay Powered by Uplift, a Buy Now Pay Later solution for booking flights, hotels, and car rentals. This service allows customers to pay in low monthly installments, starting as low as $49 for terms between 3 to 11 months. Allegiant’s aim is to enhance customer affordability and convenience, aligning with its mission to offer accessible travel options. The new payment method is available at over 30 airports across the U.S., making travel more budget-friendly.