ALLEGIANT REPORTS FEBRUARY 2022 TRAFFIC
LAS VEGAS, March 17, 2022 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for February 2022.
"After a slow start to the quarter, attributable to the Omicron variant, we saw a significant step-up in leisure demand beginning mid-February and persisting into March," stated Drew Wells, senior vice president, revenue. "We finished February with a load factor of 77.8 percent, a more than eight-point improvement over January. Load factor during the month of March is currently trending above levels observed in 2019, with several weeks exceeding 90 percent booked loads, marking the first time we've seen loads at this level since the onset of the pandemic. In addition, yields are strong with March TRASM tracking in line with March of 2019. Due to recent weather events and staffing challenges, we have lowered our quarterly capacity guidance and now expect ASMs to be up roughly 18 percent year over three-year. Given yield strength, we expect total revenue to come in on the high-end of our initial revenue guide."
"Despite decreased capacity for the quarter, we continue to expect CASM, excluding fuel, to fall within our initial range," stated Gregory Anderson, executive vice president, chief financial officer. "Recent spikes in jet fuel prices have resulted in an updated fuel cost per gallon for the first quarter of roughly $3.05. Due predominantly to the volatile fuel environment as well as some staffing challenges, we expect to reduce planned capacity by roughly ten percent for the second quarter. We will continue to manage capacity to maximize profitability."
|
Previous |
Current |
|
|
System ASMs – year over three-year change1 |
Up 19.0 to 23.0% |
Up 17.0 to 19.0% |
|
Scheduled service ASMs – year over three-year change¹ |
Up 19.0 to 23.0% |
Up 17.0 to 19.0% |
|
Total operating revenue - year over three-year change¹ |
Up 5.0 to 9.5% |
Up 7.5 to 9.5% |
|
Operating CASM, excluding fuel - year over three-year change¹ 2 |
Up 1.0 to 5.0% |
Up 3.0 to 5.0% |
|
Fuel cost per gallon |
$2.67 |
$3.05 |
|
Scheduled Service – Year Over Three-Year Comparison |
|||
|
February 2022 |
February 2019 |
Change |
|
|
Passengers |
1,099,911 |
1,012,255 |
8.7% |
|
Revenue passenger miles (000) |
1,060,497 |
947,536 |
11.9% |
|
Available seat miles (000) |
1,362,381 |
1,137,059 |
19.8% |
|
Load factor |
77.8% |
83.3% |
(5.5pts) |
|
Departures |
8,277 |
7,265 |
13.9% |
|
Average stage length (miles) |
932 |
908 |
2.6% |
|
Total System* - Year Over Three-Year Comparison |
|||
|
February 2022 |
February 2019 |
Change |
|
|
Passengers |
1,105,652 |
1,020,352 |
8.4% |
|
Available seat miles (000) |
1,392,157 |
1,174,082 |
18.6% |
|
Departures |
8,503 |
7,559 |
12.5% |
|
Average stage length (miles) |
928 |
903 |
2.8% |
|
Scheduled Service – Year Over Year Comparison |
|||
|
February 2022 |
February 2021 |
Change |
|
|
Passengers |
1,099,911 |
679,906 |
61.8% |
|
Revenue passenger miles (000) |
1,060,497 |
636,119 |
66.7% |
|
Available seat miles (000) |
1,362,381 |
1,203,720 |
13.2% |
|
Load factor |
77.8% |
52.8% |
25.0pts |
|
Departures |
8,277 |
7,630 |
8.5% |
|
Total System* - Year Over Year Comparison |
|||
|
February 2022 |
February 2021 |
Change |
|
|
Passengers |
1,105,652 |
680,930 |
62.4% |
|
Available seat miles (000) |
1,392,157 |
1,223,407 |
13.8% |
|
Departures |
8,503 |
7,783 |
9.3% |
|
Average stage length (miles) |
928 |
904 |
2. |
*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 |
|
|
February 2022 estimated average fuel cost per gallon – system |
$2.92 |
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.
