Allegiant Travel Co Stock Price, News & Analysis

Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for January 2022. The company served 942,857 passengers, a 1.9% increase from January 2019. Revenue passenger miles rose by 5.4% to 902,934 thousand miles, while available seat miles increased by 23.9% to 1,306,832 thousand miles. However, the load factor decreased to 69.1%, down 12.2 points from January 2019. Average fuel costs per gallon for the month are estimated at $2.65.

Allegiant Travel Company (NASDAQ: ALGT) announced an executive transition effective June 1, 2022. Maurice J. Gallagher, Jr. will become executive chairman, while John Redmond, the current president, will assume the role of CEO. Gallagher praised Redmond's experience and leadership during the transition, which aims to enhance upward mobility within the company's management. Allegiant has been recognized for its profitability and innovative approach to leisure travel, growing from a single airplane airline to a major player with over 110 aircraft and 600+ routes across 130+ cities.

Allegiant Travel Company (NASDAQ: ALGT) reported its fourth quarter and full year 2021 financial results, showcasing a significant recovery from previous lows. Total operating revenue reached $496.9 million in Q4, a 101.5% increase year-over-year, with net income of $10.7 million. For 2021, total revenue was $1.7 billion, a 72.5% rise compared to 2020. The airline achieved adjusted earnings per share of $2.04, notably one of the few domestic carriers to post a full-year adjusted profit.

Despite challenges from the Omicron variant and operational disruptions, forward bookings remain strong, indicating a positive outlook.

Allegiant (NASDAQ: ALGT) has announced the launch of nine new nonstop routes starting this spring, offering one-way fares as low as $39. This expansion includes new routes from Austin to popular destinations like Nashville, San Diego, and more. The new flights will commence between April 14 and May 19, 2022, enhancing Allegiant's presence in Austin and connecting smaller cities to major vacation spots. The promotional fares are available for purchase until February 2, 2022.

On January 18, 2022, Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for December 2021 and the fourth quarter. The company's scheduled capacity increased by 14.5% compared to 2019, with an impressive load factor of 78.8%. Total operating revenue for the quarter was approximately $496 million, marking a 7.5% increase from 2019. This quarter marks its third consecutive profitable quarter since the pandemic began, despite facing operational challenges primarily due to Omicron-related crew shortages, which impacted costs by about $23 million.

Allegiant Travel Company (NASDAQ: ALGT) will hold its financial results conference call for the full year and fourth quarter of 2021 on February 2, 2022, at 4:30 p.m. EST. Interested parties can access the live broadcast via the company’s Investor Relations website. The call will also be archived for future reference. Allegiant, based in Las Vegas, focuses on connecting customers to key destinations through affordable, nonstop flights from small-to-medium cities.

On January 6, 2022, Allegiant Travel Company (NASDAQ: ALGT) will hold an investor call at 12:00 p.m. EDT to discuss a new agreement with Boeing for the purchase of 50 new 737 MAX aircraft. This purchase is part of Allegiant's strategy to modernize and expand its fleet. The call will be accessible via the company's Investor Relations website, with an archived version available later. Allegiant has been connecting smaller cities to major vacation destinations since 1999, offering low-cost nonstop flights.

Allegiant Travel Company (NASDAQ: ALGT) has announced a deal with Boeing to purchase 50 new 737 MAX aircraft to modernize its fleet. This multi-year agreement marks Boeing's first with a U.S. ultra-low-cost carrier, providing Allegiant the option to buy 50 more planes. Initial deliveries start in 2023, with additional deliveries in 2024 and 2025. The new aircraft will enhance capacity, efficiency, and support Allegiant's growth target of over 10% annually, while also offering significant environmental benefits.

Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for November 2021, revealing a 7.8% increase in passengers compared to November 2019, totaling 1,187,477. Revenue passenger miles rose 10.8% to 1,066,154,000, and available seat miles increased 14.7% to 1,373,420,000. However, the load factor decreased by 2.8 percentage points to 77.6%, indicating less efficient seat utilization. Compared to November 2020, passengers surged by 73.9%. Average fuel cost per gallon is estimated at $2.56.