Allegiant Travel Co Stock Price, News & Analysis

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.

Allegiant Airlines has rebranded its inflight magazine from Sunseeker to nonstoplife, enhancing the travel experience for its customers. The magazine, available in all seatback pockets, offers travel advice and local recommendations tailored to passenger desires for meaningful experiences. As part of the update, Allegiant introduced a refreshed fall menu featuring exclusive snacks and beverages, with proceeds from certain items supporting Make-A-Wish. This initiative aligns with Allegiant's commitment to affordable travel and enhancing passenger satisfaction.

On September 5, 2022, Allegiant (NASDAQ: ALGT) announced the early repayment of a $24.8 million emergency relief loan received under the CARES Act in April 2020. This loan facilitated liquidity during the pandemic, aiding the company in safeguarding jobs. Allegiant's unique focus on leisure travel enabled a swift recovery in demand. CEO John Redmond expressed gratitude for the governmental support that allowed the airline to fulfill its obligations sooner than expected, as the travel sector rebounds from the pandemic.

Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for July 2022, showing a significant increase in passenger numbers compared to previous periods.
In July 2022, Allegiant carried 1,931,557 passengers, up 10.9% from July 2019, and 4.3% compared to July 2021.
The load factor improved to 90.5%, up 2.3 points year-over-three-year. Revenue passenger miles increased by 15.4% compared to July 2019, reflecting strong demand and operational performance, despite a higher average fuel cost of $4.05 per gallon.