Allegiant Travel Co Stock Price, News & Analysis

Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for November 2021, revealing a 7.8% increase in passengers compared to November 2019, totaling 1,187,477. Revenue passenger miles rose 10.8% to 1,066,154,000, and available seat miles increased 14.7% to 1,373,420,000. However, the load factor decreased by 2.8 percentage points to 77.6%, indicating less efficient seat utilization. Compared to November 2020, passengers surged by 73.9%. Average fuel cost per gallon is estimated at $2.56.

Allegiant (NASDAQ: ALGT) has announced nine new nonstop routes for spring vacation travel to popular destinations in Florida and the southwest, with one-way fares starting at $39. New routes include service from Knoxville, Tennessee to Phoenix, Arizona and Minneapolis, Minnesota, among others, starting in February and March 2022. The routes aim to provide direct connections for travelers seeking affordable vacation options, enhancing Allegiant's service offerings during the busy spring break period.

CDB Aviation has announced the delivery of an Airbus A320-200 aircraft to Allegiant, an ultra-low-cost airline based in Las Vegas. This delivery is part of Allegiant's strategy to enhance its fleet post-pandemic, featuring a configuration of 186 economy seats. The collaboration signifies CDB Aviation's commitment to expanding its global footprint and supporting fast-growing airlines. Allegiant's treasurer expressed satisfaction with the tailored transaction that aligns with their fleet goals, highlighting their competitive travel model as the industry recovers.

Allegiant (NASDAQ: ALGT) and Viva Aerobus have formed a pioneering Commercial Alliance to enhance nonstop leisure travel between the U.S. and Mexico. This partnership marks the first of its kind between two ultra-low-cost carriers, promising reduced fares and expanded travel options. Allegiant will invest $50 million in Viva Aerobus and seek DOT approval for the alliance, which could lead to over 250 new routes. The collaboration aims to stimulate competition and benefit the hospitality sector, with expected flights commencing Q1 2023, pending regulatory approvals.

Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for October 2021. The company served 1,163,152 passengers, a 5.1% increase from October 2019. Revenue passenger miles rose by 7.4% to 1,014,278 thousand. Available seat miles were up 19.6% at 1,358,612 thousand. Load factor dropped to 74.7%, down 8.4 points from 2019. Compared to October 2020, passenger traffic surged by 50.4%. Estimated average fuel cost was $2.52 per gallon.

Allegiant (NASDAQ: ALGT) has announced a five-year partnership with Amazon Web Services (AWS), designating AWS as its Preferred Cloud Provider. This collaboration aims to enhance customer engagement through personalized experiences and improve operational efficiency via a flexible IT infrastructure. By transitioning to AWS, Allegiant anticipates significant cost savings and the ability to leverage data-driven insights for enhanced business operations. The partnership supports Allegiant's goal of becoming a premier leisure travel marketplace, integrating flights with lodging and unique experiences.

Allegiant Travel Company (NASDAQ: ALGT) reported third-quarter 2021 financial results highlighting a strong recovery post-pandemic. Total operating revenue surged to $459.5 million, up 128.6% from 2020 and 5.3% from 2019. Net income reached $39.3 million, a significant turnaround from a loss of $29.1 million in the prior year. Diluted earnings per share stood at $2.18. Despite challenges due to COVID and labor issues, the company maintains a strong liquidity position of $1.1 billion and plans to grow capacity by 12% in Q4 compared to 2019, while cost management remains a priority.

Allegiant (NASDAQ: ALGT) announced the ratification of its first collective bargaining agreement with maintenance technicians represented by the International Brotherhood of Teamsters. The agreement, effective from October 26, 2021, spans five years and covers 415 employees, including line and heavy maintenance technicians. Negotiations began in January 2019 but were delayed due to the COVID-19 pandemic. Allegiant's CEO highlighted the vital role of the maintenance team for company operations and future growth.

Allegiant Travel Company (NASDAQ: ALGT) announced the appointment of Sandra Douglass Morgan to its Board of Directors. Morgan, a skilled attorney and former chairwoman of the Nevada Gaming Control Board, brings extensive experience in regulated industries. Her leadership is expected to enhance Allegiant's navigation of complex industry issues like labor regulations and cybersecurity. Morgan's past roles include director of external affairs for AT&T and City Attorney for North Las Vegas. The appointment aims to support Allegiant's growth as an integrated travel company, furthering its commitment to innovation.