Allegiant Reports June 2024 Traffic

Rhea-AI Summary

Allegiant Travel Company (NASDAQ: ALGT) has released its preliminary passenger traffic results for June 2024. The report shows a 1.5% increase in scheduled service passengers compared to June 2023, reaching 1,830,067. However, the load factor decreased by 3.5 percentage points to 86.6%. For the second quarter of 2024, passenger numbers declined by 3.1% compared to the same period in 2023. The company's total system passengers increased by 1.9% in June 2024 compared to the previous year. Allegiant also reported an estimated average fuel cost of $2.72 per gallon for June 2024 and $2.83 per gallon for the second quarter of 2024.

Positive

• 1.5% increase in scheduled service passengers for June 2024 compared to June 2023
• 1.9% increase in total system passengers for June 2024 compared to June 2023
• 6.0% increase in departures for June 2024 compared to June 2023
• 5.5% increase in available seat miles for June 2024 compared to June 2023

Negative

• 3.5 percentage point decrease in load factor for June 2024 compared to June 2023
• 3.1% decrease in passengers for Q2 2024 compared to Q2 2023
• 4.0% decrease in revenue passenger miles for Q2 2024 compared to Q2 2023
• 2.2 percentage point decrease in load factor for Q2 2024 compared to Q2 2023

LAS VEGAS, July 25, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for June 2024.

Scheduled Service – Year Over Year Comparison

	June 2024	June 2023	Change
Passengers	1,830,067	1,802,886	1.5 %
Revenue passenger miles (000)	1,612,782	1,590,984	1.4 %
Available seat miles (000)	1,862,875	1,766,164	5.5 %
Load factor	86.6 %	90.1 %	(3.5 pts)
Departures	12,217	11,530	6.0 %
Average stage length (miles)	868	868	0.0 %
	2nd Quarter 2024	2nd Quarter 2023	Change
Passengers	4,572,769	4,719,623	(3.1 %)
Revenue passenger miles (000)	4,108,288	4,278,399	(4.0 %)
Available seat miles (000)	4,848,017	4,925,194	(1.6 %)
Load factor	84.7 %	86.9 %	(2.2 pts)
Departures	31,128	31,487	(1.1 %)
Average stage length (miles)	885	887	(0.2 %)

Total System* - Year Over Year Comparison

	June 2024	June 2023	Change
Passengers	1,849,172	1,814,041	1.9 %
Available seat miles (000)	1,931,393	1,805,699	7.0 %
Departures	12,639	11,816	7.0 %
Average stage length (miles)	870	866	0.5 %

	2nd Quarter 2024	2nd Quarter 2023	Change
Passengers	4,621,848	4,755,981	(2.8 %)
Available seat miles (000)	5,013,209	5,053,547	(0.8 %)
Departures	32,252	32,396	(0.4 %)
Average stage length (miles)	883	884	(0.1 %)

*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
June 2024 estimated average fuel cost per gallon – system	$2.72
2nd quarter 2024 estimated fuel cost per gallon - system	$2.83

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 the people, places and experiences that matter most. 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 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:
Sonya Padgett		Sherry Wilson
email: mediarelations@allegiantair.com		email: ir@allegiantair.com

Category: News

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SOURCE Allegiant Travel Company

FAQ

What was Allegiant's passenger growth in June 2024 compared to June 2023?

Allegiant (ALGT) reported a 1.5% increase in scheduled service passengers for June 2024 compared to June 2023, with 1,830,067 passengers.

How did Allegiant's load factor change in June 2024?

Allegiant's (ALGT) load factor decreased by 3.5 percentage points to 86.6% in June 2024 compared to June 2023.

What was Allegiant's estimated average fuel cost per gallon in June 2024?

Allegiant (ALGT) reported an estimated average fuel cost of $2.72 per gallon for June 2024.

How did Allegiant's passenger numbers change in Q2 2024 compared to Q2 2023?

Allegiant (ALGT) experienced a 3.1% decrease in passengers for the second quarter of 2024 compared to the same period in 2023.