Allegiant Reports August 2024 Traffic

About this update from Allegiant Travel Company

[{"type":"text","content":"LAS VEGAS, Sept. 20, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for August 2024.\n\n \n \n \n \n \n \n\n \n\"As we have progressed through the third quarter, we have continued to observe a strong demand environment,\" noted Drew Wells, Chief Commercial Officer of Allegiant Travel Company. \"While we expected the year-over-year unit revenue cadence to improve through the end of the quarter, the environment has certainly outperformed our initial expectations. Although the full month of September will likely be TRASM negative on a year-over-year basis, we now expect the back half of the month to flip positive. Given recent booking improvements coming out of July, we expect third-quarter unit revenues to be down roughly 5.5 percent year-over-year compared with our prior commentary of down 7.5 percent. Although early, holiday bookings are showing signs of strength with both yields and loads performing well against expectations on December capacity increases of 18 percent over 2023.\"\n\"Non-fuel unit costs are expected to be up approximately 4.5 percent during the third quarter as compared with the prior year, 2.5 points better than anticipated due primarily to the CrowdStrike impact coming in below what we had previously estimated and a better-than-expected completion factor during the quarter,\" stated Robert Neal, Chief Financial Officer of Allegiant Travel Company. \"Additionally, we have observed improvements in the fuel environment. We expect fuel to come in at roughly $2.70 per gallon for the third quarter, down from our prior expectation of $2.80. Guidance updates related to the changes in the revenue and cost environments are included in the table below. We continue to expect Sunseeker to perform consistent with our prior guidance.\"\nThird Quarter Guidance Update\nCurrent Guidance\nPrior Guidance\nSystem ASMs – year over year change\n~1.8%\n~1.3%\nScheduled service ASMs – year over year change \n~1.6%\n~1.3%\nFuel cost per gallon\n$2.70\n$2.80\nAirline-only operating margin\n(0.5%) – (1.5%)\n(4.5%) – (6.5%)\nAirline-only earnings (loss) per share, excluding special charges\n($0.75) – ($1.25)\n($1.50) – ($2.50)\nConsolidated earnings (loss) per share, excluding special charges\n($1.75) – ($2.25)\n($2.50) – ($3.50)\n \nScheduled Service – Year Over Year Co...

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