ALGT Allegiant Travel Company

LAS VEGAS, Dec. 12, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for November 2024.

"Booking trends following the election continue to outpace our initial expectations," stated Drew Wells, Chief Commercial Officer of Allegiant Travel Company. "Demand recovery to hurricane-impacted destinations has been faster than expected, with demand to most impacted regions returning to normal. Additionally, close-in holiday demand during November exceeded our expectations with TRASM performing on par with the prior year during the week of Thanksgiving. December capacity is expected to be up 17 percent year-over-year, and we are encouraged by the strength in bookings for the December holiday period, which are outpacing our initial expectations. Based on recent booking trends, we now expect fourth quarter TRASM to be down approximately 1.5 percent year-over-year on capacity growth of 1.8 percent for the quarter, versus our initial TRASM expectation of down 4.5 percent year-over-year." 

"We took delivery of two incremental 737-MAX aircraft in November," stated Robert Neal, Chief Financial Officer of Allegiant Travel Company. "We expect to end the year with four MAX aircraft in service, as compared with our initial expectation of one, bringing our total fleet count at year end to 125. With heightened confidence in 737 deliveries, we opportunistically executed a transaction during the fourth quarter to sell underutilized CFM engines, resulting in a $15 million gain. Considering these gains, we now expect fourth quarter CASM, excluding fuel and special charges, to be down 3.5 percent, year-over-year. Updated fourth quarter guidance is included in the table below."      

¹ Certain forward-looking financial information in the above table is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Non-GAAP financial figures may be useful to stakeholders, but should not be considered a substitute for GAAP figures. In reliance on the 'unreasonable efforts' exception in Item 10(e)(1)(i)(B) of SEC Regulation S-K, a reconciliation to the most comparable GAAP financial measure is not provided for airline-only earnings per share, excluding special charges, or consolidated earnings per share, excluding special charges. The Company is not able to reconcile these Non-GAAP financial figures without unreasonable effort because the special charge adjustments will not be known until the end of the indicated future period and any range of projected values would be too broad to be meaningful. As a result, this information would not be significant to investors.

*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.

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 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 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: 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