Allegiant Travel Company reported its preliminary passenger traffic results for March 2021 as well as first quarter 2021.
“We are encouraged by the meaningful improvement in customer demand throughout the month of March,” stated Gregory Anderson, executive vice president and chief financial officer. “Average daily bookings for the month exceeded average daily bookings during the same time period in 2019. The significant improvement in March demand coupled with our industry-leading cost structure enabled us to generate positive EPS and EBITDA for the month of March, excluding the benefit from the payroll support grant. For the March quarter, we expect adjusted1 CASM, excluding fuel, to be down 3 to 4 percent, year over two-year.”
“Capacity was up roughly three percent, when compared to 2019, with March capacity up 14 percent,” stated Drew Wells, senior vice president, revenue. “Although this caused some load pressure, our focus remains on generating positive cash flows and optimizing profits. We continue to expect first quarter total revenue to fall in the middle of our previous guide of down 35 to 40 percent, when compared with 2019. We remain optimistic about peak summer travel. With national vaccination rates steadily increasing and average daily bookings trending in the right direction, we expect sequential revenue improvements into the second quarter.”
1 Adjusted to exclude the impact of the payroll support grant.
Scheduled Service – Year Over Two-Year Comparison | |||
March 2021 | March 2019 | Change | |
Passengers | 1,095,572 | 1,484,326 | (26.2%) |
Revenue passenger miles (000) | 1,022,480 | 1,386,501 | (26.3%) |
Available seat miles (000) | 1,832,250 | 1,610,575 | 13.8% |
Load factor | 55.8% | 86.1% | (30.3 pts) |
Departures | 11,710 | 10,297 | 13.7% |
Average stage length (miles) | 899 | 914 | (1.6%) |
1st Quarter 2021 | 1st Quarter 2019 | Change | |
Passengers | 2,323,302 | 3,421,538 | (32.1%) |
Revenue passenger miles (000) | 2,166,417 | 3,191,045 | (32.1%) |
Available seat miles (000) | 3,921,090 | 3,802,132 | 3.1% |
Load factor | 55.3% | 83.9% | (28.6pts) |
Departures | 24,947 | 24,344 | 2.5% |
Average stage length (miles) | 902 | 908 | (0.7%) |
Total System* – Year Over Two-Year Comparison | |||
March 2021 | March 2019 | Change | |
Passengers | 1,102,869 | 1,499,688 | (26.5%) |
Available seat miles (000) | 1,884,130 | 1,655,330 | 13.8% |
Departures | 12,144 | 10,660 | 13.9% |
Average stage length (miles) | 892 | 908 | (1.8%) |
1st Quarter 2021 | 1st Quarter 2019 | Change | |
Passengers | 2,334,503 | 3,450,278 | (32.3%) |
Available seat miles (000) | 4,013,989 | 3,910,239 | 2.7% |
Departures | 25,684 | 25,200 | 1.9% |
Average stage length (miles) | 898 | 904 | (0.7%) |
Scheduled Service – Year Over Year Comparison | |||
March 2021 | March 2020 | Change | |
Passengers | 1,095,572 | 892,966 | 22.7% |
Revenue passenger miles (000) | 1,022,480 | 839,766 | 21.8% |
Available seat miles (000) | 1,832,250 | 1,413,348 | 29.6% |
Load factor | 55.8% | 59.4% | (3.6 pts) |
Departures | 11,710 | 8,926 | 31.2% |
Average stage length (miles) | 899 | 914 | (1.6%) |
1st Quarter 2021 | 1st Quarter 2020 | Change | |
Passengers | 2,323,302 | 3,154,606 | (26.4%) |
Revenue passenger miles (000) | 2,166,417 | 2,925,482 | (25.9%) |
Available seat miles (000) | 3,921,090 | 3,964,009 | (1.1%) |
Load factor | 55.3% | 73.8% | (18.5pts) |
Departures | 24,947 | 25,484 | (2.1%) |
Average stage length (miles) | 902 | 900 | 0.2% |
Total System* – Year Over Year Comparison | |||
March 2021 | March 2020 | Change | |
Passengers | 1,102,869 | 898,986 | 22.7% |
Available seat miles (000) | 1,884,130 | 1,441,144 | 30.7% |
Departures | 12,144 | 9,172 | 32.4% |
Average stage length (miles) | 892 | 908
|
(1.8%)
|
1st Quarter 2021 | 1st Quarter 2020 | Change | |
Passengers | 2,334,503 | 3,175,450 | (26.5%) |
Available seat miles (000) | 4,013,989 | 4,067,671 | (1.3%) |
Departures | 25,684 | 26,312 | (2.4%) |
Average stage length (miles) | 898 | 895 | 0.3% |
*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 2021 estimated average fuel cost per gallon – system | $1.99 |
$ per gallon | |
1st quarter 2021 estimated average fuel cost per gallon – system | $1.86 |
Top Copyright Photo: Allegiant Air Airbus A319-112 N302NV (msn 2387) (Vegas Golden Knights) LAS (Gunter Mayer). Image: 953312.
Allegiant Air aircraft slide show: