ALLEGIANT REPORTS MARCH 2022 TRAFFIC

About this update from Allegiant Travel Company

[{"type":"text","content":"LAS VEGAS, April 20, 2022 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for March 2022 as well as first quarter 2022.\n\n \n \n \n \n \n \n\n \n\"We finished the quarter with total revenue in excess of $500 million, a 10.7 percent increase from 2019,\" stated Drew Wells, senior vice president, revenue. \"Demand began picking up in earnest mid-February resulting in load factors for the month of March above levels observed in 2019. TRASM during the month of March exceeded March of 2019 on capacity growth of over 14 percent. Demand strength has continued into the second quarter with booking growth exceeding planned forward capacity growth for the quarter. We expect second quarter load factors to exceed 2019 levels, with a more than ten percent increase in TRASM on double-digit anticipated capacity growth.\"\n\"'Our average fuel cost per gallon was $3.07, which was further pressured as we closed out the quarter by paying $3.46 during the month of March,\" stated Gregory Anderson, executive vice president, chief financial officer. \"The sudden spike in fuel resulted in $22 million more in fuel expense than expected during the quarter and was the primary driver of our loss per share of $0.44 cents. Additionally, this loss includes the impact of 'profit sharing', consistent with 2019 amounts. Excluding this 'profit share' component, the loss per share was roughly $0.12 cents. These results generally would not trigger profit sharing. However, given the challenging environment and the continued efforts of our team members, we are pleased to award a 2022 recognition bonus. \n\"Our unit cost, excluding fuel and 'profit sharing' was up 4.2 percent year over three-year, in line with our initial guide despite lower-than-expected capacity growth. As we head into the second quarter, we have optimized our planned capacity growth to prioritize operational integrity, better align with a high-fuel environment, and enhance profitability.\"\nScheduled Service – Year Over Three-Year Comparison\nMarch 2022\nMarch 2019\nChange\nPassengers\n1,666,336\n1,484,326\n12.3%\nRevenue passenger miles (000)\n1,594,614\n1,386,501\n15.0%\nAvailable seat miles (000)\n1,843,102\n1,610,575\n14.4%\nLoad factor\n86.5%\n86.1%\n0.4pts\nDepartures\n11,258\n10,297\n9.3%\nAverage stage length (miles)\n927\n914\n1...

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