Allegiant Travel Co Stock Price, News & Analysis

Allegiant (NASDAQ: ALGT) is promoting exclusive travel packages for NFL fans as the upcoming season approaches. These packages include roundtrip flights, hotel stays, and tickets to Las Vegas Raiders games at Allegiant Stadium. They feature the Allegiant Total bundle for added convenience. Allegiant Stadium was voted the top venue for gameday satisfaction last season, enhancing the appeal of the packages. Moreover, Allegiant is expanding services to key NFL cities. With the easing of COVID restrictions, ticket sales are expected to be brisk.

Allegiant (NASDAQ: ALGT) announced the launch of seven new nonstop routes, commencing in August 2022. To promote these routes, the airline is offering one-way fares starting at $29. The new routes connect Provo, Utah to destinations such as Las Vegas and San Diego, among others. Allegiant emphasizes its commitment to affordable travel with no layovers. The introductory fares are available for booking until May 8, 2022, for travel through February 13, 2023.

Allegiant Travel Company (NASDAQ: ALGT) reported a Q1 2022 net loss of $7.9 million, with a diluted loss per share of $(0.44). Total operating revenue surged 79.2% YoY to $500.1 million, while operating expenses rose by 93.6%. Despite challenges, the airline achieved a 21% operating margin in March and expects Q2 revenue up by 30% compared to 2019. Notably, new cardholders for the Allways Allegiant World Mastercard increased by 99% compared to Q1 2019. The company remains bullish on future growth and is awaiting DOT approval for its joint venture with Viva Aerobus.

Allegiant Travel Company (NASDAQ: ALGT) will establish a new four-aircraft base at Provo Airport, investing approximately $95 million and creating at least 157 new high-wage jobs. Operations are set to commence on November 16, 2022. This expansion supports the company’s goal of linking small-to-medium cities with leisure destinations and builds on the existing success of eight non-stop routes from Provo. Allegiant has flown over 700,000 passengers through Provo since 2013, contributing an estimated $15 million to the local economy per new route.

Allegiant Travel Company (NASDAQ: ALGT) will hold its first quarter 2022 financial results conference call on May 4 at 4:30 p.m. EST. The call will be accessible via the company’s Investor Relations website, where it will also be archived. Allegiant, based in Las Vegas, connects small-to-medium cities with vacation destinations, offering non-stop flights at competitive fares. The airline aims to provide low-cost services, with base airfares being significantly lower than the average domestic roundtrip ticket.

Allegiant Travel Company (NASDAQ: ALGT) announced strong preliminary passenger traffic results for March 2022 and Q1 2022. March passenger numbers reached 1,666,336, a 12.3% increase year-over-three-year. Total revenue exceeded $500 million, up 10.7% from 2019 levels. However, the average fuel cost significantly impacted profits, with a per-gallon price of $3.46 in March, leading to a loss of $0.44 per share due to unforeseen fuel expenses. The company expects improved load factors and revenue growth in Q2 2022.

Allegiant (NASDAQ: ALGT) celebrates the release of DreamWorks Animation's The Bad Guys with various promotional events throughout April 2022. The Family Flyaway Sweepstakes, running from April 12 to May 2, offers a grand prize of a Universal Parks and Resorts vacation and additional prizes including Allegiant vouchers and Fandango gift cards. Passengers can expect movie-themed surprises on board, including exclusive interviews with filmmakers in the airline's Sunseeker Magazine. Allegiant aims to connect families through affordable travel while promoting the film's themes of friendship and fun.

Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for February 2022. The company experienced a significant increase in leisure demand in mid-February, achieving a load factor of 77.8%, up over eight points from January. March load factors are exceeding those of 2019, with several weeks over 90% booked. Although recent weather and staffing issues led to a 10% reduction in quarterly capacity guidance, total revenue is expected to be at the higher end of initial projections, supported by strong yield strength.

Allegiant Travel Company announced that the Sunseeker Resort Charlotte Harbor is now accepting guest reservations for stays starting in May 2023. This resort, the first major new-build in Southwest Florida in over 13 years, features 785 guest rooms, including 189 luxury suites, and offers 60,000 square feet of meeting space, multiple dining options, two pools, and an exclusive golf course. The resort aims to elevate hospitality in the region and is strategically located near Punta Gorda Airport, providing access to over 50 Allegiant destinations.