Allegiant Travel Co Stock Price, News & Analysis

Allegiant (NASDAQ: ALGT) has initiated an in-flight fundraising campaign throughout October, donating a portion of proceeds from pink refreshments to the National Breast Cancer Foundation. This marks the eighth consecutive year of the initiative, with over $100,000 donated since its inception. Available items include Minute Maid Pink Lemonade and Sutter Home Pink Moscato, aimed at raising awareness for breast cancer, which affects one in eight women in the U.S. Crew members will wear pink attire to support the cause.

Allegiant Travel Company (NASDAQ: ALGT) reported preliminary passenger traffic results for August 2021, showing a 5.0% decline in passengers compared to August 2019, totaling 1,179,414. The increase in COVID-19 cases has led to softening demand and higher cancellations, despite strong performance during peak periods like Labor Day with load factors around 80%. The company anticipates a 13.5% capacity increase from 2019 for Q3, but revised initial expectations down by 4.5 percentage points. Operating revenue is expected to rise 3.0% to 5.0% year-over-year.

Allegiant (NASDAQ: ALGT) unveiled a custom Raiders livery aircraft in Las Vegas on Sept. 8, 2021, marking its partnership as the official airline of the Las Vegas Raiders. The sleek Silver & Black design symbolizes Raider Nation's spirit and enhances fan travel experiences. As football season begins, Allegiant offers exclusive travel packages for fans attending home games at Allegiant Stadium. The airline operates an 'out-and-back' network, with nonstop flights centered in Las Vegas, and features an all-Airbus fleet, promising low fares to various destinations.

Allegiant (NASDAQ: ALGT) has introduced exclusive travel packages for football fans heading to games at Allegiant Stadium in Las Vegas. These packages are available to travelers booking flights to McCarran International Airport and include roundtrip flights, hotel stays, game tickets, and additional services. The airline has positioned itself as a vital part of the game-day experience for fans, especially those traveling to see the Raiders play. Allegiant, known for its low fares, aims to enhance fan experiences while promoting its travel offerings.

Allegiant (NASDAQ: ALGT) unveiled the Allways Rewards loyalty program, aimed at enhancing travel for leisure customers. Launching on September 3, the program allows members to earn points without blackout dates or mileage tracking. Members can redeem points for flights, accommodations, and unique rewards like event tickets. A sweepstakes features a grand prize including concert tickets and NFL game tickets. The program also offers a 5% discount on airfare and integrates with the Allegiant World Mastercard, enhancing customer benefits and simplifying the rewards process.

Allegiant Travel Company (NASDAQ: ALGT) reported preliminary passenger traffic results for July 2021, indicating a positive trend compared to July 2019. With 1,852,193 passengers, the company achieved a 6.4% increase in passenger volume from two years prior, alongside a 7.3% rise in revenue passenger miles. The total system also reflected a 107.0% surge in passenger numbers compared to July 2020. However, the load factor decreased to 81.3% from 88.2% in July 2019, highlighting a need for improved capacity utilization amidst increased departures of 13,428.

Allegiant Travel Company (NASDAQ: ALGT) will establish new aircraft and crew bases at Flint Bishop International Airport (FNT) and Appleton International Airport (ATW) in Q1 2022. The Flint base, launching on February 16, 2022, will feature three Airbus A320 aircraft and create at least 89 jobs, marking a $75 million investment. The Appleton base, starting March 2, 2022, will consist of two Airbus A320 aircraft and generate 66 jobs with a $50 million investment. These expansions aim to enhance Allegiant's nonstop service offerings and support economic growth in these regions.

On August 10, 2021, Allegiant (NASDAQ: ALGT) announced a significant expansion, introducing 22 new nonstop routes, enhancing service in 25 U.S. cities. To celebrate, one-way fares start as low as $39 on these new routes. The expansion focuses on connecting travelers to popular destinations in Florida, Arizona, and California during the fall and winter seasons. The new service aims to provide more accessible travel options and increased convenience through smaller airports.

Allegiant Travel Company (NASDAQ: ALGT) announced the resumption of construction on Sunseeker Resort Charlotte Harbor in Punta Gorda, Florida, set to restart this month after a pause due to COVID-19. The resort will feature 500 hotel rooms, 180 extended stay suites, and 55,000 square feet of meeting space, among other amenities. Expected completion is in 18 to 24 months, creating 800 construction jobs and 1,150 permanent positions, becoming the third-largest employer in Southwest Florida. Renovations on a nearby golf course will coincide with the resort's opening.