Allegiant Reports June 2021 Traffic
LAS VEGAS, July 13, 2021 /PRNewswire/ — Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for June 2021 as well as second quarter 2021.
“Demand strength persisted throughout the quarter with average daily bookings in excess of the same time period in 2019,” stated Gregory Anderson, executive vice president and chief financial officer. “We continued to see load factor improvement throughout June with a nearly 10-point increase from May on year over two-year capacity growth of roughly 14 percent. Given the demand strength, scheduled service revenue, excluding fixed fee and other revenue, is estimated to be $467 million, down 1.3 percent when compared with 2019. This is better than initial expectations due to significantly increased breakage revenue1 related to the elevated issuance of credit vouchers throughout the pandemic as well as sustained yield strength throughout the quarter. Excluding breakage, yield was up nearly two percent when compared with the second quarter of 2019. Given the revenue strength observed throughout the quarter, we estimate an adjusted EBITDA margin2 of roughly 29 percent. Additional updates to guidance are included in the table below.”
|
Previous |
Current |
|
|
Scheduled service revenue – year over two-year change, excluding fixed fee |
Down 6 to 10% |
Down 1.3%3 |
|
Total operating revenue – year over two-year change |
N/A |
Down 4.0% |
|
Fuel cost per gallon |
$1.99 |
$2.02 |
|
Weighted average share count for the second quarter |
16.2 million |
17.1 million |
|
1 Breakage accounts for just below five percent of scheduled service revenue. |
|
Scheduled Service – Year Over Two-Year Comparison |
|||
|
June 2021 |
June 2019 |
Change |
|
|
Passengers |
1,630,204 |
1,594,128 |
2.3% |
|
Revenue passenger miles (000) |
1,395,232 |
1,355,240 |
3.0% |
|
Available seat miles (000) |
1,794,848 |
1,576,993 |
13.8% |
|
Load factor |
77.7% |
85.9% |
(8.2 pts) |
|
Departures |
12,416 |
11,176 |
11.1% |
|
Average stage length (miles) |
828 |
828 |
0.0% |
|
2nd Quarter 2021 |
2nd Quarter 2019 |
Change |
|
|
Passengers |
3,680,254 |
4,131,855 |
(10.9%) |
|
Revenue passenger miles (000) |
3,188,215 |
3,603,076 |
(11.5%) |
|
Available seat miles (000) |
4,505,786 |
4,311,182 |
4.5% |
|
Load factor |
70.8% |
83.6% |
(12.8pts) |
|
Departures |
30,763 |
29,567 |
4.0% |
|
Average stage length (miles) |
842 |
853 |
(1.3%) |
|
Total System* – Year Over Two-Year Comparison |
|||
|
June 2021 |
June 2019 |
Change |
|
|
Passengers |
1,635,716 |
1,606,651 |
1.8% |
|
Available seat miles (000) |
1,821,104 |
1,618,098 |
12.5% |
|
Departures |
12,642 |
11,478 |
10.1% |
|
Average stage length (miles) |
825 |
827 |
(0.2%) |
|
2nd Quarter 2021 |
2nd Quarter 2019 |
Change |
|
|
Passengers |
3,699,217 |
4,169,536 |
(11.3%) |
|
Available seat miles (000) |
4,594,542 |
4,447,066 |
3.3% |
|
Departures |
31,507 |
30,547 |
3.1% |
|
Average stage length (miles) |
838 |
853 |
(1.8%) |
|
Scheduled Service – Year Over Year Comparison |
|||
|
June 2021 |
June 2020 |
Change |
|
|
Passengers |
1,630,204 |
867,207 |
88.0% |
|
Revenue passenger miles (000) |
1,395,232 |
745,608 |
87.1% |
|
Available seat miles (000) |
1,794,848 |
1,301,559 |
37.9% |
|
Load factor |
77.7% |
57.3% |
20.4 pts |
|
Departures |
12,416 |
8,940 |
38.9% |
|
Average stage length (miles) |
828 |
846 |
(2.1%) |
|
2nd Quarter 2021 |
2nd Quarter 2020 |
Change |
|
|
Passengers |
3,680,254 |
1,266,077 |
190.7% |
|
Revenue passenger miles (000) |
3,188,215 |
1,107,534 |
187.9% |
|
Available seat miles (000) |
4,505,786 |
2,174,683 |
107.2% |
|
Load factor |
70.8% |
50.9% |
19.9pts |
|
Departures |
30,763 |
14,683 |
109.5% |
|
Average stage length (miles) |
842 |
855 |
(1.5%) |
|
Total System* – Year Over Year Comparison |
|||
|
June 2021 |
June 2020 |
Change |
|
|
Passengers |
1,635,716 |
868,927 |
88.2% |
|
Available seat miles (000) |
1,821,104 |
1,315,304 |
38.5% |
|
Departures |
12,642 |
9,105 |
38.8% |
|
Average stage length (miles) |
825 |
839 |
(1.7%) |
|
2nd Quarter 2021 |
2nd Quarter 2020 |
Change |
|
|
Passengers |
3,699,217 |
1,273,258 |
190.5% |
|
Available seat miles (000) |
4,594,542 |
2,220,755 |
106.9% |
|
Departures |
31,507 |
15,089 |
108.8% |
|
Average stage length (miles) |
838 |
850 |
(1.4%) |
|
*Total system includes scheduled service and fixed fee contract. System revenue passenger miles and system load factor are not useful statistics as system available seat miles include both ASMs flown by fixed fee flying as well as non-revenue producing repositioning flights used for operational needs. Fixed fee flying is better measured through dollar contribution versus operational statistics. |
|
Preliminary Financial Results |
|
|
$ per gallon |
|
|
June 2021 estimated average fuel cost per gallon – system |
$2.11 |
|
$ per gallon |
|
|
2nd quarter 2021 estimated average fuel cost per gallon – system |
$2.02 |
Allegiant Travel Company
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant’s all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF
ALGT/G
Note: This news release was accurate at the date of issuance. However, information contained in the release may have changed. If you plan to use the information contained herein for any purpose, verification of its continued accuracy is your responsibility.
For further information please visit the company’s investor website: http://ir.allegiantair.com
Reference to the Company’s website above does not constitute incorporation of any of the information thereon into this news release.
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SOURCE Allegiant Travel Company