Welcome to our dedicated page for Allegiant Travel Co news (Ticker: ALGT), a resource for investors and traders seeking the latest updates and insights on Allegiant Travel Co stock.
Allegiant Travel Company (NASDAQ: ALGT) generates a steady flow of news as a leisure-focused airline and integrated travel company based in Las Vegas, Nevada. This news page aggregates press releases and media coverage related to Allegiant’s scheduled passenger air transportation business, financial performance, network expansion, and strategic initiatives, giving readers a central place to review the latest developments affecting ALGT stock and the company’s operations.
Allegiant’s news often highlights its role in connecting small and mid-sized cities to world-class vacation destinations with all-nonstop flights and low average fares. Regular traffic updates provide monthly and quarterly statistics on passengers, revenue passenger miles, available seat miles, load factor, and departures for both scheduled service and total system flying, including fixed-fee contract operations. Earnings releases detail consolidated and airline-only results, non-GAAP measures such as adjusted operating margin and adjusted earnings per share, capital expenditures, liquidity, and debt management actions.
Readers can also expect news about Allegiant’s network and product offerings. The company frequently announces new nonstop routes and entry into new markets, such as its 2025 announcement of 30 new routes connecting 35 cities, including La Crosse, Philadelphia, Trenton, and Columbia. Other stories cover customer-experience initiatives like the launch of Altus Sol, a custom-crafted wine designed for consumption at cruising altitude, and promotional campaigns including Cyber Monday and Travel Tuesday sales and Allways Rewards bonus point offers.
Corporate and strategic updates are another key news category. Allegiant issues releases and files Form 8-Ks on leadership changes, such as the designation of a new President and promotions within its finance and integration teams. It also reports on financing arrangements, including amendments to revolving credit facilities and aircraft loan borrowings, as well as corporate transactions like the sale of Sunseeker Resort Charlotte Harbor and the definitive merger agreement to acquire Sun Country Airlines. Investors and followers of ALGT can use this page to review these updates in one place and revisit prior announcements for context.
Allegiant (NASDAQ: ALGT) announced plans to hire 184 pilots, increasing its workforce by nearly 19% from approximately 1,000 pilots. This hiring initiative is part of the company's strategy to meet growing demand for air travel as restrictions ease and vaccination rates rise. Training for new pilots will commence in July and continue into early 2022. Allegiant operates an all-Airbus fleet and boasts over 580 routes to 129 cities, employing more than 4,000 team members.
Allegiant (NASDAQ: ALGT) has promoted Rob Goldberg to senior vice president and senior counsel. Goldberg, who has over 40 years of legal experience, joined Allegiant in 2017 and has worked extensively in corporate finance and securities law. His previous roles include working as a partner in prominent Atlanta law firms and facilitating public offerings for three airlines. Allegiant's president, John Redmond, noted Goldberg's expertise as vital for the company's upcoming growth phase.
Allegiant Travel Company (NASDAQ: ALGT) has priced an underwritten public offering of 1,350,000 shares at $219.00 each, totaling approximately $295.65 million. The offering is anticipated to close around May 10, 2021, pending customary conditions. The company plans to utilize the net proceeds for growth opportunities, including aircraft acquisitions and debt repayment. Barclays and Morgan Stanley are the underwriters for the offering.
Allegiant Travel Company (NASDAQ: ALGT) has launched a public offering of 1,350,000 shares of its common stock, with a 30-day underwriter option for an additional 202,500 shares. The net proceeds will support airline growth, including aircraft acquisitions and debt repayment. Barclays and Morgan Stanley are the underwriters. A registration statement, including a prospectus, has been filed with the SEC, and potential investors can access these documents through the SEC's EDGAR system or upon request.
TELEO Capital Management has made a significant growth equity investment in Teesnap, a golf course operations management software platform. This partnership with Allegiant Travel Company aims to enhance product development and market initiatives. Teesnap offers a cloud-based SaaS solution for golf course operators, featuring real-time scheduling, point-of-sale systems, and marketing services. The investment will facilitate product innovation, geographic expansion, and potential acquisitions to capitalize on the growing golf industry.
Allegiant Travel Company (NASDAQ: ALGT) reported a first-quarter 2021 net income of $6.9 million, or $0.42 per diluted share, a significant improvement from a loss of $33 million in Q1 2020. Total operating revenue was $279.1 million, down 31.8% year-over-year, while total operating expenses dropped by 51.7%. Adjusted EBITDA was negative at $(15.4) million. The company restored capacity to pre-pandemic levels with a 3.1% increase in scheduled capacity compared to 2019. They anticipate full-year capacity to exceed 2019 levels, reflecting improving booking trends.
Allegiant Travel Company (NASDAQ: ALGT) announced a change in the date for its first-quarter 2021 earnings conference call. The call has been rescheduled to Tuesday, May 4, 2021, at 4:30 p.m. EDT, due to a scheduling conflict. Investors can access the live broadcast through the company's Investor Relations website, with the link available for future reference on the site’s 'Events & Presentations' section. Allegiant continues to serve a broad network, linking small-to-medium cities to popular vacation destinations.
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.
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