Welcome to our dedicated page for Allegiant Travel news (Ticker: ALGT), a resource for investors and traders seeking the latest updates and insights on Allegiant Travel stock.
Allegiant Travel Company reports developments for an integrated leisure travel business built around Allegiant Air, a low-cost passenger airline connecting small and mid-sized U.S. communities with vacation destinations through all-nonstop service. News commonly covers quarterly operating results, fare and customer-service policies, network capacity actions, Allways Rewards offers, and fixed-fee flying arrangements.
The company also operates Sunseeker Resort Charlotte Harbor, giving its public updates a travel-and-leisure scope beyond scheduled airline service. Corporate news may include material agreements, shareholder voting matters, capital-structure updates, governance matters, and risk disclosures tied to airline operations and travel demand.
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.
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.