Allegiant reports its traffic in March was up 12.3% over 2019

Allegiant Travel Company (Allegiant Air) today reported preliminary passenger traffic results for March 2022 as well as first quarter 2022.

“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.”

“‘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.

“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.”

Scheduled Service – Year Over Three-Year Comparison
March 2022 March 2019 Change
Passengers 1,666,336 1,484,326 12.3%
Revenue passenger miles (000) 1,594,614 1,386,501 15.0%
Available seat miles (000) 1,843,102 1,610,575 14.4%
Load factor 86.5% 86.1% 0.4pts
Departures 11,258 10,297 9.3%
Average stage length (miles) 927 914 1.4%
1st Quarter 2022 1st Quarter 2019 Change
Passengers 3,709,104 3,421,538 8.4%
Revenue passenger miles (000) 3,558,045 3,191,045 11.5%
Available seat miles (000) 4,512,315 3,802,132 18.7%
Load factor 78.9% 83.9% (5.0pts)
Departures 27,637 24,344 13.5%
Average stage length (miles) 926 908 2.0%

 

Total System* – Year Over Three-Year Comparison
March 2022 March 2019 Change
Passengers 1,679,945 1,499,688 12.0%
Available seat miles (000) 1,893,962 1,655,330 14.4%
Departures 11,700 10,660 9.8%
Average stage length (miles) 918 908 1.1%
1st Quarter 2022 1st Quarter 2019 Change
Passengers 3,734,262 3,450,278 8.2%
Available seat miles (000) 4,620,144 3,910,239 18.2%
Departures 28,494 25,200 13.1%
Average stage length (miles) 920 904 1.8%

 

Scheduled Service – Year Over Year Comparison
March 2022 March 2021 Change
Passengers 1,666,336 1,095,572 52.1%
Revenue passenger miles (000) 1,594,614 1,022,480 56.0%
Available seat miles (000) 1,843,102 1,832,250 0.6%
Load factor 86.5% 55.8% 30.7pts
Departures 11,258 11,710 (3.9%)
Average stage length (miles) 927 899 3.1%
1st Quarter 2022 1st Quarter 2021 Change
Passengers 3,709,104 2,323,302 59.6%
Revenue passenger miles (000) 3,558,045 2,166,417 64.2%
Available seat miles (000) 4,512,315 3,921,090 15.1%
Load factor 78.9% 55.3% 23.6pts
Departures 27,637 24,947 10.8%
Average stage length (miles) 926 902 2.7%

 

Total System* – Year Over Year Comparison
March 2022 March 2021 Change
Passengers 1,679,945 1,102,869 52.3%
Available seat miles (000) 1,893,962 1,884,130 0.5%
Departures 11,700 12,144 (3.7%)
Average stage length (miles) 918 892 2.9%
1st Quarter 2022 1st Quarter 2021 Change
Passengers 3,734,262 2,334,503 60.0%
Available seat miles (000) 4,620,144 4,013,989 15.1%
Departures 28,494 25,684 10.9%
Average stage length (miles) 920 898 2.4%

 

*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
March 2022 estimated average fuel cost per gallon – system $3.46
$ per gallon
1st quarter 2022 estimated average fuel cost per gallon – system $3.07