Allegiant Travel Co Stock Price, News & Analysis

Allegiant Travel Company (NASDAQ: ALGT) has announced its first quarter 2021 financial results conference call, to be held on April 29, 2021, at 4:30 p.m. EDT. The event will be accessible via the company's Investor Relations website, and an archive will be available in the 'Events & Presentations' section afterward. Allegiant Air, the company’s airline, connects small to medium cities to popular vacation spots, boasting industry-low average fares.

Allegiant (NASDAQ: ALGT) has reached an agreement in principle with the International Brotherhood of Teamsters for a collective bargaining contract covering its maintenance technician workforce, which totals 415 employees. This agreement is subject to finalization and ratification by the employee group, expected by the end of July 2021. Negotiations began in January 2019 but were suspended due to the COVID-19 pandemic. Allegiant emphasizes that this milestone ensures its maintenance team can continue to provide safe and affordable travel.

Allegiant Travel Company (NASDAQ: ALGT) reported preliminary passenger traffic results for March 2021. Passenger counts decreased by 26.2% compared to March 2019, with 1,095,572 passengers. However, March 2021 showed an increase of 22.7% over March 2020. Average daily bookings exceeded pre-pandemic levels, improving revenue expectations. Allegiant’s capacity increased by approximately 14% in March, while adjusted CASM, excluding fuel, is expected to decline by 3-4% year-over-two-year. The company remains optimistic for the upcoming peak summer travel season.

Allegiant Travel Company (NASDAQ: ALGT) announced the establishment of a new operations base at Austin-Bergstrom International Airport. This initiative involves a $75 million investment and aims to create at least 89 high-wage jobs, with three Airbus A320 aircraft stationed at the site. The base is set to commence operations on November 18, 2021, enhancing connectivity for leisure travelers and local residents. Allegiant currently offers 14 nonstop routes from Austin, having carried over 1.1 million passengers since 2013.

Allegiant Travel Company (NASDAQ: ALGT) reported February 2021 passenger traffic results indicating a 43.4% year-over-year decline in passengers, totaling 679,906. Despite this, the company observed a moderate increase in travel demand, leading to a 6% rise in available seat miles (ASMs) from February 2019. Expectations for first-quarter total revenue suggest a decline of 35-40% compared to the same period two years prior, which is an improvement over the previous quarter. Average fuel costs were estimated at $1.83 per gallon for February 2021.

Allegiant Travel Company (NASDAQ: ALGT) reported its preliminary passenger traffic results for January 2021. The company served 547,824 passengers, a decline of 48.4% compared to January 2020, when it had 1,061,034 passengers. Revenue passenger miles decreased by 47.4% to 507,818, and available seat miles fell by 25.0% to 885,121. The load factor dropped to 57.4%, down 24.4 points from the previous year. The average fuel cost per gallon in January 2021 was estimated at $1.66.

Allegiant (NASDAQ: ALGT) announced new nonstop routes from Key West, FL to Pittsburgh, PA, and St. Petersburg-Clearwater, FL to Portsmouth, NH, launching on June 3 and June 2, 2021, respectively. To celebrate, one-way fares start at $59. This expansion follows the company's second largest network growth, driven by increased customer demand. Additionally, the Punta Gorda, FL to Rapid City, SD route has been extended for the summer due to its popularity during the Sturgis Motorcycle Rally. These developments reflect Allegiant's strategy to connect travelers to desirable destinations.

Allegiant (NASDAQ: ALGT) announced the launch of 34 new nonstop routes, including nine special routes for the 2021 Sturgis Rally. Starting fares are as low as $39. Drew Wells, Senior VP of Revenue, noted an expected surge in travel demand, particularly to outdoor destinations. New routes include service to places such as Bozeman, Montana and Indianapolis, Indiana, with several routes commencing in late May through July. This expansion aims to enhance access to travel and boost the company's revenue.

Allegiant Travel Company (NASDAQ: ALGT) reported significant financial challenges for Q4 2020 and the full year, with total operating revenue at $246.6 million, down 46.5% year-over-year. The company posted a net loss of $28.8 million for the quarter, equating to a diluted loss per share of $1.79. However, there were signs of recovery, with total revenue up 85% sequentially from Q2 and an improved load factor of 58.2%. Despite losses, booking trends indicate a positive outlook for 2021 as customer travel intentions improve and new routes are launched.