Allegiant Travel Co Stock Price, News & Analysis

Allegiant Travel Company (NASDAQ: ALGT) announced it will host a conference call to discuss its second quarter 2024 financial results on Wednesday, July 31 at 4:30 p.m. EDT. A live broadcast of the call will be accessible through Allegiant's Investor Relations website, and an archived webcast will be available in the 'Events & Presentations' section of the site. Allegiant Travel, based in Las Vegas, operates an airline focused on connecting small-to-medium cities to popular vacation destinations with nonstop flights and low fares. More information and media resources are available on Allegiant's official website. For inquiries, contact mediarelations@allegiantair.com or ir@allegiantair.com.

Allegiant Travel Company (NASDAQ: ALGT) announced preliminary passenger traffic results for May 2024. During May 2024, the company recorded a slight 0.7% increase in scheduled service passengers compared to May 2023, reaching 1,414,692 passengers. Revenue passenger miles decreased by 0.6% to 1,263,087, while available seat miles increased by 0.7% to 1,489,477. The load factor decreased by 1.1 points to 84.8%. Departures rose by 1.3% to 9,615, though the average stage length saw a minor reduction to 882 miles.

In total system metrics, which include scheduled service and fixed fee contract, passengers increased by 0.8% to 1,428,599, and available seat miles rose by 0.7% to 1,538,208. Departures increased by 1.5% to 9,976, while the average stage length dropped slightly to 877 miles. The estimated average fuel cost per gallon for May 2024 was $2.81.

Allegiant, based in Las Vegas, connects travelers from smaller cities to major vacation destinations with low-cost, nonstop flights.

Allegiant Travel Company (NASDAQ: ALGT) has been honored as the Best Low-Cost Airline in North America at the 2024 World Airline Awards by Skytrax. The award was accepted by Allegiant's President, Gregory C. Anderson, during the ceremony in London. This recognition highlights Allegiant's commitment to customer service, with a business model focusing on non-stop flights connecting small-to-medium cities to major vacation destinations. Skytrax conducted the largest airline passenger satisfaction survey to determine the winners, involving 21.42 million entries from travelers worldwide. The survey ran from September 2023 to May 2024, and Allegiant emerged as a favorite among customers for its affordable and reliable service. Allegiant continues to serve communities with industry-low fares, linking travelers to top vacation spots.

Allegiant Travel Company (NASDAQ: ALGT) announced the retirement of Chief Information Officer Robert P. Wilson III, effective July 1, 2024. Wilson has had a distinguished career in aviation spanning over 30 years, with more than 15 years at Allegiant. He played a pivotal role in transforming the company's IT infrastructure during a critical growth phase. Allegiant President Gregory C. Anderson praised Wilson's contributions, especially his efforts in building a robust IT team. The company is currently searching for Wilson's successor. Wilson expressed pride in Allegiant's achievements and confidence in the team's future capabilities.

Allegiant (NASDAQ: ALGT) has announced special flights for NFL fans, offering direct flights to key games. Fans of the Packers, Lions, Browns, Chiefs, and Vikings can enjoy hassle-free travel to see their teams play. Key routes include flights from Appleton to Nashville, Los Angeles, and Jacksonville for Packers fans, and from Chicago Rockford to Nashville. Additional routes include Phoenix to Grand Rapids for Lions fans, Akron to Las Vegas for Browns fans, Kansas City to Las Vegas for Chiefs fans, and Fargo to Nashville for Vikings fans. These flights will operate on specific dates corresponding to the NFL schedule, and tickets are expected to sell out quickly.

Allegiant Travel Company (NASDAQ: ALGT) reported preliminary passenger traffic results for April 2024.

Year-over-year comparisons show a decrease in several key metrics:

Passengers: 1,328,010 in April 2024, down 12.1% from 1,511,309 in April 2023.

Revenue passenger miles: 1,232,419, a decline of 13.0% from 1,417,077.

Available seat miles: 1,495,665, down 11.0% from 1,680,635.

Load factor: 82.4%, a decrease of 1.9 points from 84.3%.

Departures also decreased by 11.2%, from 10,468 to 9,296.

The average stage length remained unchanged at 911 miles.

Total system metrics also showed declines, with passengers down 11.8% and available seat miles down 10.3%.

The estimated average fuel cost per gallon for April 2024 was $2.99.

As Memorial Day approaches, Allegiant (NASDAQ: ALGT) honors military personnel and veterans by offering exclusive travel benefits and career support programs. Military passengers receive complimentary services such as baggage allowance, carry-on and personal items, free boarding pass printing, and pet policy benefits. Additionally, family members traveling on the same itinerary also qualify for many of these benefits. Allegiant also supports military personnel in their career transitions with programs like the Military Maintenance Pathway Program, Military Pilot Pathway Program, and partnerships with the Army P3 and Army PAYS programs. The airline emphasizes its commitment to the military community by fostering inclusivity and appreciation within its organization.

These initiatives are part of Allegiant's broader effort to ease travel burdens and support career advancement for military members, reflecting their dedication and sacrifice.

Allegiant Travel Company (NASDAQ: ALGT) has secured the No. 3 spot in J.D. Power's 2024 North America Airline Satisfaction Study, also claiming the top rank as the No. 1 ULCC. The recognition is a testament to Allegiant's commitment to providing exceptional service at affordable prices for leisure travelers, connecting small-to-medium sized communities with popular vacation destinations through nonstop flights. The airline's focus on customer satisfaction, seamless travel experience, and low-cost fares has contributed to its success.

Allegiant Travel Company reported first-quarter 2024 financial results, including a GAAP diluted loss per share of $(0.07) and diluted earnings per share of $0.57 excluding special charges. Total operating revenue increased by 1.0% compared to the prior year, but operating income decreased by 83.8%. The airline only diluted earnings per share, excluding special charges, was $1.08, with a 2.6% decrease in airline operating revenue. The company highlighted operational achievements and future expectations amidst a transitional year.