Press Release

<< Back
ALLEGIANT REPORTS SEPTEMBER 2022 TRAFFIC

LAS VEGAS, Oct. 26, 2022 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for September 2022 as well as third quarter 2022.

"We ended the quarter with adjusted1 earnings, excluding 2022 employee recognition bonus in-line with our updated guidance," stated Gregory Anderson, president and chief financial officer. "Demand remained strong throughout the quarter with strength continuing into the upcoming holiday season. Third quarter loads were more than 88 percent, 2.5 points higher than the third quarter of 2019, on 17 percent more capacity. As expected, incremental operating costs associated with Hurricane Ian in addition to reducing capacity by roughly 1.5 percent, contributed to a roughly 13.9 percent increase in CASM, excluding fuel and employee recognition bonus, as compared with the third quarter of 2019. Third quarter results are summarized in the table below.

"Although we are still assessing the impacts of Hurricane Ian, as of October 6, air service has been restored to all airports that we serve in Florida. While airports have resumed normal operations and demand shows good promise, we do expect a revenue headwind related to our Florida markets in the fourth quarter. Additionally, we are in the process of working with our insurance partners to measure the financial impact to Sunseeker Resorts. The physical damage to the structures was predominantly caused by several cranes collapsing onto the building. Based on limited information available to us today, we are currently estimating this damage to be approximately $35 million. However, because investigations are ongoing, and we continue to ascertain new information daily, this number is subject to change. The estimated physical damage of $35 million will be recorded as a one-time, special item on our third quarter income statement. As insurance proceeds are approved in subsequent quarters, these recoveries will offset the loss. I want to express my gratitude to our team members and partners for their efforts to safely restore our network."     

 


Actual

Guidance

System ASMs – year over three-year change2

14.5 %

~14.5%

Scheduled service ASMs – year over three-year change2

17 %

~17%

Total operating revenue - year over three-year change2

28.4 %

~27.5%

Operating CASM, excluding fuel and 2022 employee recognition bonus - year over three-year change1 3

13.9 %

13 to 14%

Fuel cost per gallon

$3.85

$3.87

 

Scheduled Service – Year Over Three-Year Comparison

 


September 2022

September 2019

Change

Passengers

1,005,535

770,768

30.5 %

Revenue passenger miles (000)

884,285

639,534

38.3 %

Available seat miles (000)

1,014,779

775,906

30.8 %

Load factor

87.1 %

82.4 %

4.7 pts

Departures

6,768

5,638

20.0 %

Average stage length (miles)

851

808

5.3 %






3rd Quarter 2022

3rd Quarter 2019

Change

Passengers

4,316,163

3,753,611

15.0 %

Revenue passenger miles (000)

3,820,339

3,170,826

20.5 %

Available seat miles (000)

4,315,984

3,687,473

17.0 %

Load factor

88.5 %

86.0 %

2.5 pts

Departures

28,436

26,238

8.4 %

Average stage length (miles)

860

824

4.4 %

 

Total System* - Year Over Three-Year Comparison


September 2022

September 2019

Change

Passengers

1,031,908

799,592

29.1 %

Available seat miles (000)

1,079,809

855,962

26.2 %

Departures

7,287

6,248

16.6 %

Average stage length (miles)

840

802

4.7 %

 


 3rd Quarter 2022

3rd Quarter 2019

Change

Passengers

4,359,417

3,806,369

14.5 %

Available seat miles (000)

4,450,595

3,888,400

14.5 %

Departures

29,432

27,707

6.2 %

Average stage length (miles)

857

823

4.1 %





 

Scheduled Service – Year Over Year Comparison



September 2022

September 2021

Change

Passengers

1,005,535

803,349

25.2 %

Revenue passenger miles (000)

884,285

689,600

28.2 %

Available seat miles (000)

1,014,779

977,759

3.8 %

Load factor

87.1 %

70.5 %

16.6 pts

Departures

6,768

6,714

0.8 %

Average stage length (miles)

851

834

2.0 %






3rd Quarter 2022

3rd Quarter 2021

Change

Passengers

4,316,163

3,834,956

12.5 %

Revenue passenger miles (000)

3,820,339

3,302,519

15.7 %

Available seat miles (000)

4,315,984

4,312,893

0.1 %

Load factor

88.5 %

76.6 %

11.9 pts

Departures

28,436

29,593

(3.9 %)

Average stage length (miles)

860

834

3.1 %





 

Total System* - Year Over Year Comparison

 


September 2022

September 2021

Change

Passengers

1,031,908

829,029

24.5 %

Available seat miles (000)

1,079,809

1,050,489

2.8 %

Departures

7,287

7,304

(0.2 %)

Average stage length (miles)

840

823

2.1 %

 


3rd Quarter 2022

3rd Quarter 2021

Change

Passengers

4,359,417

3,872,651

12.6 %

Available seat miles (000)

4,450,595

4,441,201

0.2 %

Departures

29,432

30,663

(4.0 %)

Average stage length (miles)

857

829

3.4 %

 

*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

September 2022 estimated average fuel cost per gallon – system

$3.75




$ per gallon

3rd quarter 2022 estimated average fuel cost per gallon – system

$3.85



 

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 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.

Allegiant Media Contact:


Investor Inquiries:

Sonya Padgett


Sherry Wilson

email: mediarelations@allegiantair.com


email: ir@allegiantair.com

 

1 Adjusted to exclude a one-time loss of $35 million related to the impact of Hurricane Ian on Sunseeker Resorts
2 Year over three-year percentage changes compare 2022 to 2019
3 Operating CASM, excluding fuel, excludes the impact of excess profit sharing

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/allegiant-reports-september-2022-traffic-301659668.html

SOURCE Allegiant Travel Company