Allegiant Travel Co Stock Price, News & Analysis

Allegiant Travel Company (NASDAQ: ALGT) reported strong passenger traffic results for December 2022, with a 10.9% increase in passengers compared to December 2019, totaling 1,450,978. Fourth quarter results also showed a 10.7% rise, with 3,893,870 passengers. Full year 2022 reflected an impressive 12.2% growth year-over-year, reaching 16,630,138 passengers. Revenue passenger miles increased by 16.8% year-over-year, with load factors at 85.0%. Estimated average fuel costs per gallon for December 2022 were $3.23, while the fourth quarter averaged $3.59. These trends indicate robust recovery and operational efficiency for Allegiant.

Allegiant Travel Company (NASDAQ: ALGT) has announced a conference call to discuss its full year and fourth quarter 2022 financial results scheduled for February 1, 2023, at 4:30 p.m. EST. The call will be accessible via a live broadcast on the company's Investor Relations website, with an archive available later. Allegiant, based in Las Vegas, has been providing nonstop flights to vacation destinations from small-to-medium cities since 1999, maintaining low average fares that are generally less than half the cost of typical domestic roundtrip tickets.

Allegiant Travel Company (NASDAQ: ALGT) announced preliminary passenger traffic results for November 2022. The company reported 1,193,686 passengers, an increase of 8.4% compared to November 2019. Revenue passenger miles rose 13.7% to 1,094,020 while available seat miles increased by 6.2% to 1,272,381. The load factor also improved to 86.0%, up 5.6 points from the same period in 2019. However, departures decreased by 1.3%. The estimated average fuel cost per gallon was $3.71 for November 2022.

Allegiant Travel Company (NASDAQ: ALGT) has partnered with DreamWorks Animation to celebrate the release of Puss in Boots: The Last Wish, hitting theaters on December 21, 2022. The collaboration includes a vacation sweepstakes, themed onboard experiences, and a unique aircraft featuring Puss in Boots livery. The grand prize winner will receive roundtrip airfare for four and a private screening of the film. This partnership aims to enhance family travel experiences during the holiday season, reinforcing Allegiant's commitment to affordable travel.

Allegiant Travel Company (NASDAQ: ALGT) reported preliminary passenger traffic results for October 2022, indicating a robust performance. The airline transported 1,249,206 passengers, which represents a 12.9% increase compared to October 2019. Revenue passenger miles rose by 20.3% to 1,135,972. Notably, the load factor improved to 85.5%, up by 2.4 percentage points. Despite a 2.2% decrease in available seat miles compared to last year, the airline remains optimistic about future operations.

Allegiant (NASDAQ: ALGT) has announced two new nonstop routes to Nashville starting in February 2023. The routes, from Provo, Utah and Akron, Ohio, will offer one-way fares as low as $37. Services begin on February 15, catering to increasing travel demand to Nashville, a top vacation destination. Tickets must be purchased by November 17, 2022, with travel valid until August 13, 2023. The airline's focus remains on connecting smaller cities with popular travel spots.

Allegiant Travel Company (NASDAQ: ALGT) reported a third quarter 2022 GAAP diluted loss per share of $(2.58), compared to earnings of $2.18 in Q3 2021. Total operating revenue increased by 22% year-over-year to $560.3 million, driven by strong demand despite Hurricane Ian's impact, with a total operating expense rise of 50.4%. Forward bookings are higher than pre-COVID levels, and the company expects a profitable fourth quarter, despite an anticipated revenue headwind from Hurricane Ian.

Total liquidity stands at $1.2 billion, with ongoing share repurchase authority of $54 million.

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.