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Allegiant Reports March 2017 Traffic

LAS VEGAS, April 10, 2017 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for March 2017 and first quarter 2017. 

"March unit revenue came in lighter than expected," stated Lukas Johnson, SVP, commercial.  "The uniqueness of Easter shifting further into April led to monthly and quarterly TRASM underperformance of our guided range.  Second quarter bookings continue to look strong and neutralizing for the Easter shift, the combination of March and April is expected to produce positive unit revenue growth versus the same period last year.  In addition, we still expect second quarter TRASM to be positive and will provide greater detail on our earnings call on April 25.  We are also guiding third quarter ASMs to grow between three and seven percent.  This has always been the 2017 plan as we ramp up the level of MD-80 spares for the summer.  We are still on schedule to grow full year 2017 ASMs between eight and twelve percent."


TRASM impact

Initial Q1 2017 TRASM guidance

(3.5) to (1.5)%

Impact on March of Easter in April versus previous expectations

(1.0)%

Impact of weather and operations

(0.5)%

Assumed continued strength in demand from Q1

(0.5)%

Revised Q1 2017 TRASM guidance

(4.8) to (4.4)%

 

Scheduled Service






March 2017

March 2016

Change

Passengers

1,143,571

1,043,333

9.6%

Revenue passenger miles (000)

1,072,847

1,010,390

6.2%

Available seat miles (000)

1,269,107

1,142,024

11.1%

Load factor

84.5%

88.5%

(4.0) pts

Departures

8,269

7,136

15.9%

Average stage length (miles)

916

947

(3.3%)






1st quarter 2017

1st quarter 2016

Change

Passengers

2,845,480

2,567,309

10.8%

Revenue passenger miles (000)

2,661,934

2,483,553

7.2%

Available seat miles (000)

3,237,164

2,897,951

11.7%

Load factor

82.2%

85.7%

(3.5) pts

Departures

21,248

18,175

16.9%

Average stage length (miles)

908

940

(3.4%)

 

Total System*  






March 2017

March 2016

Change

Passengers

1,154,591

1,052,645

9.7%

Revenue passenger miles (000)

1,087,972

1,023,248

6.3%

Available seat miles (000)

1,315,169

1,183,356

11.1%

Load factor

82.7%

86.5%

(3.8) pts

Departures

8,637

7,445

16.0%

Average stage length (miles)

910

940

(3.2%)






1st quarter 2017

1st quarter 2016

Change

Passengers

2,881,248

2,592,907

11.1%

Revenue passenger miles (000)

2,708,498

2,520,149

7.5%

Available seat miles (000)

3,376,837

3,001,384

12.5%

Load factor

80.2%

84.0%

(3.8) pts

Departures

22,295

18,918

17.9%

Average stage length (miles)

903

935

(3.4%)

 

Preliminary Financial Results




Change

February 2017 actual year-over-year


  Scheduled total revenue per scheduled ASM (TRASM) change

(2.8%)





March 2017 estimated year-over-year TRASM change

(4.4%) to (4.0%)



1st quarter 2017 estimated year-over-year TRASM change

(4.8%) to (4.4%)




$ per gallon

March 2017 estimated average fuel cost per gallon – system

$1.78




$ per gallon

1st quarter 2017 estimated average fuel cost per gallon – system

$1.81

 

Guidance



Capacity guidance, subject to revision

Year over Year Growth


Departures

ASMs

April 2017



            Scheduled

+21%

+18%




2nd Quarter 2017



            System

+14 to 18%

+11 to 15%

            Scheduled

+14 to 18%

+11 to 15%




3rd Quarter 2017



            System

+4 to 8%

+3 to 7%

            Scheduled

+4 to 8%

+3 to 7%




ASMs – Available seat miles

 

Cost and revenue guidance, subject to revision



Cost guidance



1st quarter 2017

Cost per available seat mile excluding fuel (CASM-ex fuel) – year over year change

11.6 to 12.0%



Fixed fee and other revenue guidance



1st quarter 2017

Fixed fee revenue and other revenue (millions)

$18.4 to $19.4

About Allegiant

Las Vegas-based Allegiant (NASDAQ: ALGT) is focused on linking travelers in small cities to world-class leisure destinations. The airline offers industry-low fares on an all-jet fleet while also offering other travel-related products such as hotel rooms, rental cars and attraction tickets. All can be purchased only through the company website, Allegiant.com. Beginning with one aircraft and one route in 1999, the company has grown to over 80 aircraft and more than 300 routes across the country with base airfares less than half the cost of the average domestic roundtrip ticket. For downloadable press kit, including photos, visit: 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.

Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements are only estimates or predictions based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include our statements regarding future departure and capacity growth. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "guidance","believe," "expect," "anticipate," "intend," "plan," "estimate," "project," "hope" or similar expressions.

Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in the forward-looking statements. Important risk factors that could cause our results to differ materially from those expressed in the forward-looking statements generally may be found in our periodic reports filed with the Securities and Exchange Commission at www.sec.gov.

Any forward-looking statements are based on information available to us today and we undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.

 

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SOURCE Allegiant Travel Company

Allegiant Media Contact: Hilarie Grey, e-mail: mediarelations@allegiantair.com; Investor Inquiries: Chris Allen, e-mail:ir@allegiantair.com