2022-06-17 | NDAQ:ALGT | Press release

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LA VEGAS, June 17, 2022 /PRNewswire/ — Allegiant Travel Company (NASDAQ:ALGT) today announced preliminary passenger traffic results for May 2022.

“We increased capacity by nearly 16% in May compared to 2019, and ended the month with a load factor of 87%, the highest month since the start of the pandemic,” said Drew Wells, Senior Vice President, Revenue. “The strength of demand continues to persist, with forward bookings outpacing future capacity growth and continuing to increase from levels seen in 2019. Although early, off-season bookings also have a trending up from 2019. We continue to expect June loads to exceed May levels, with loads expected to be around 90% as COVID cases have begun to rise in mid-May, we saw an increase in flight cancellations due to crew availability.Due to the increase in cancellations, we expect total revenue for the quarter to be low.end of our guide previous year, up approximately 28% from 2019. In addition, we now expect total system capacity to increase approximately 11.5% for the quarter, year over year.

“The average cost per gallon of fuel in May was $4.41 and we now expect to end the quarter at an average cost per gallon of $4.30,” declared Gregory Anderson, Executive Vice President, Chief Financial Officer. “This has increased the cost of fuel compared to our previous guide to $4.00 per gallon will translate to approximately $18 million in overspending throughout the quarter. We expect our CASM, excluding fuel and profit sharing, to be in our previous guidance, up about 15% from 2019. Updated Q2 guidance is included in the chart below. -below. »

Previous

Running

System ASM – one year to three year variation1

Up 9.0 to 13.0%

Up to ~11.5%

Regular service ASM – change from one year to three years¹

Up 10.0 to 14.0%

Up to ~12.5%

Total operating revenue – three-year change¹

Up from 28.0 to 32.0%

Up to ~28%

Operating CASM, excluding fuel and profit sharing – three-year change¹

Up 12.0 to 16.0%

Up to ~15%

Fuel cost per gallon

$4.00

$4.30

Regular Service – One Year to Three Year Comparison

May 2022

May 2019

To change

Passengers

1,454,779

1,269,429

14.6%

Revenue passenger miles (000)

1,309,090

1,093,781

19.7%

Seat miles available (000)

1,512,328

1,308,911

15.5%

Load factor

86.6%

83.6%

3.0pts

departures

9,779

9,086

7.6%

Average stage length (miles)

879

843

4.3%

Total System* – One-Year-Three-Year Comparison

May 2022

May 2019

To change

Passengers

1,465,823

1,281,742

14.4%

Seat miles available (000)

1,553,013

1,357,963

14.4%

departures

10,060

9,416

6.8%

Average stage length (miles)

877

844

3.9%

Scheduled Service – Year-over-Year Comparison

May 2022

May 2021

To change

Passengers

1,454,779

1,040,590

39.8%

Revenue passenger miles (000)

1,309,090

888 735

47.3%

Seat miles available (000)

1,512,328

1,293,704

16.9%

Load factor

86.6%

68.7%

17.9 points

departures

9,779

8,939

9.4%

Average stage length (miles)

879

834

5.4%

Total System* – Year-on-Year Comparison

May 2022

May 2021

To change

Passengers

1,465,823

1,046,813

40.0%

Seat miles available (000)

1,553,013

1,326,062

17.1%

departures

10,060

9,202

9.3%

Average stage length (miles)

877

831

5.5%

*Total system includes scheduled service and flat fee contract. System revenue passenger miles and system load factor are not useful statistics, as system available seat miles include both ASM flown by fixed-fare flights as well as non-generating repositioning flights revenue used for operational needs. Fixed fare flights are best measured by dollar contribution rather than operational statistics.

Preliminary financial results

$ per liter

Estimated average fuel cost per gallon in May 2022 – system

$4.41

Allegiant Travel Company

VegasAllegiant (NASDAQ:ALGT) is an integrated travel agency with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has connected travelers from small and mid-sized cities to world-class vacation destinations with nonstop flights and some of the lowest average fares in the industry. Today, the Allegiant fleet serves communities across the country, with base airfares less than half the cost of the average domestic round-trip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF

ALGT/G

Note: This press release was accurate as of the date of publication. However, the information in the November release has changed. If you plan to use the information contained herein for any purpose, verifying its continued accuracy is your responsibility.

For more 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 contained therein in this press release.

1 Percentage changes over three years between 2022 and 2019

Quote Show original content to download multimedia:https://www.prnewswire.com/news-releases/allegiant-reports-may-2022-traffic-301570164.html

SOURCEAllegiant Travel Company

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