Tag Archives: N416NV

Allegiant launches five seasonal routes from Myrtle Beach

Allegiant Air (Las Vegas) this week celebrated the start of new, nonstop seasonal flights to Myrtle Beach.

Allegiant logo-3

New seasonal routes launching to Myrtle Beach include:

Akron/Canton, Ohio – June 3, 2015 through Sep. 13, 2015
Sanford (near Orlando), Florida – June 4, 2015 through Sep. 13, 2015
Indianapolis, Indiana – June 4, 2015 through Sep. 13, 2015
Pittsburgh, Pennsylvania – June 5, 2015 through Sep. 13, 2015
Clarksburg, West Virginia – June 5, 2015 through Aug. 17, 2015

Copyright Photo: Jay Selman/AirlinersGallery.com. McDonnell Douglas DC-9-83 (MD-83) N416NV (msn 49555) arrives at Concord, North Carolina, near Charlotte.

Allegiant Air aircraft slide show: AG Airline Slide Show

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Allegiant adds new seasonal routes from Los Angeles to Great Falls and Cedar Rapids

Allegiant Air (Las Vegas) on June 6 started seasonal nonstop jet service between Great Falls, Montana and Los Angeles. Allegiant now operates Great Falls’ only nonstop service to Los Angeles in addition to Las Vegas and Mesa (near Phoenix). The new flights will operate twice-weekly through September 8, 2014.

The company on June 6 also inaugurated new nonstop, seasonal jet service between Cedar Rapids, Iowa and Los Angeles via Los Angeles International Airport.

As is customary on new Allegiant routes, the new flights will initially operate twice weekly, beginning through September 8, 2014, flying nonstop from The Eastern Iowa Airport (CID) to Los Angeles International Airport (LAX) and becoming the only nonstop service from Cedar Rapids to any destination in California.

Copyright Photo: Jacques Guillem Collection/AirlinersGallery.com. McDonnell Douglas DC-9-83 (MD-83) N416NV (msn 49555) holds for runway clearance for its departure from the Las Vegas base.

Allegiant: AG Slide Show

Allegiant celebrates it 40th consecutive profitable quarter

Allegiant Travel Company (Allegiant Air) (Las Vegas) is celebrating its 40th consecutive profitable quarter. The company produced a net profit of $14.8 million in the fourth quarter (up from a net profit of $10.8 million in the same quarter a year ago) and a net profit of $78.6 million for 2012 (up from a net profit of $49.4 million in 2011). The travel company specializes in serving small markets with limited service to popular vacation destinations. The company issued the following financial results and details for the fourth quarter 2012 and full year results for 2012:

Allegiant Travel Company reported the following financial results for both the fourth quarter and full year 2012, as well as comparisons to prior year equivalents:

Unaudited 4Q12 4Q11 Change 2012 2011 Change
Total operating revenue (millions) $222.8 $193.9 14.9% $908.7 $779.1 16.6%
Operating income (millions) $25.4 $20.2 25.8% $132.3 $85.4 54.8%
Operating margin 11.4% 10.4% 1.0pp 14.6% 11.0% 3.6pp
EBITDA (millions) $42.2 $31.3 34.7% $190.1 $127.4 49.2%
EBITDA margin 18.9% 16.2% 2.7pp 20.9% 16.4% 4.5pp
Net income (millions) $14.8 $10.8 36.6% $78.6 $49.4 59.1%
Diluted earnings per share $0.76 $0.56 35.7% $4.06 $2.57 58.0%

“We are very proud to report our 40th consecutive profitable quarter,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company.  “40 consecutive profitable quarters is an outstanding achievement in this industry and we could not do it without the great efforts and contributions of our Team Members.  In 2012, we recorded the highest system fuel cost per gallon we have ever paid for a full year.  In spite of that, we were able to grow full year earnings per share over 58 percent to the highest ever.”

Notable company quarterly highlights

  • Signed purchase agreements to acquire nine Airbus A320 aircraft previously operated by Iberia
  • Successfully converted 100 percent of our customer web traffic to our new booking engine in November
  • Returned over $38 million to shareholders through a special dividend of $2 per share in December
  • Repurchased approximately 55,000 shares for $4 million during the fourth quarter
  • As of January 30, 2013, we have converted 47 of an expected 51 MD-80s to 166 seat aircraft
  • Began operating 21 new routes during the quarter
  • Announced eight new routes starting in the first quarter
  • Ranked 14th on the Forbes’ 100 Best Small Companies.  We have been listed four years in a row

Revenue performance

  • Fourth quarter 2012 total average fare was up 4.4 percent versus 2011 and was the highest in the company’s history
  • 12th consecutive quarter of year over year increases in total average fare
  • Ancillary air-related revenue per passenger has grown sequentially every month since April 2012
4Q12 4Q11 Change 2012 2011 Change
Scheduled Service:
Average fare – scheduled service $88.59 $91.66 (3.3)% $88.90 $89.15 (0.3)%
Average fare – ancillary air-related charges $39.89 $31.51 26.6% $35.72 $31.17 14.6%
Average fare – ancillary third party products $5.19 $4.88 6.4% $5.48 $5.18 5.8%
Average fare – total $133.67 $128.05 4.4% $130.10 $125.51 3.7%
Scheduled service passenger revenue per ASM (PRASM) (cents) 7.99 8.91 (10.3)% 8.43 8.88 (5.1)%
Total scheduled service revenue* per ASM (TRASM) (cents) 12.06 12.45 (3.1)% 12.33 12.50 (1.4)%
Load factor 86.5% 89.6% (3.1)pp 89.4% 91.7% (2.3)pp
Passengers (millions) 1.6 1.4 13.3% 6.6 5.8 14.1%
Average passengers per departure 141 134 5.2% 140 136 2.9%
Average scheduled service stage length (miles) 930 904 2.9% 918 901 1.9%

* Total scheduled service revenue includes scheduled service, ancillary air-related, and ancillary third party revenue.

Cost performance

  • Full year 2012 cost per ASM excluding fuel decreased 6.7 percent to 5.3 cents in spite of a five percent decrease in aircraft utilization for the same time period
  • Full year 2012 ASMs per gallon increased 6.6 percent to 63.0 versus last year, and improved sequentially 3.6 percent in the fourth quarter 2012 versus the third quarter 2012
  • Full year 2012 salaries and benefits expense per passenger decreased 1.7 percent despite a 14.2 percent increase in full time equivalent employees
  • Full year 2012 maintenance and repairs expense per passenger decreased 19.6 percent due primarily to a 60 percent decline in engine overhaul expenses.  Maintenance expense per aircraft per month was $102,277 in 2012 versus $129,558 in 2011
  • Full year 2012 sales and marketing expense per passenger decreased 14.6 percent versus last year, primarily due to the implementation of a discount for customers paying with less expensive forms of payment beginning in the third quarter 2012
4Q12 4Q11 Change 2012 2011 Change
Total System*:
Operating expense per passenger $118.49 $116.08 2.1% $111.12 $112.32 (1.1)%
Operating expense per passenger, excluding fuel $63.50 $62.04 2.4% $56.99 $58.78 (3.0)%
Operating expense per ASM (CASM) (cents) 10.50 11.03 (4.8)% 10.37 10.90 (4.9)%
Operating expense, excluding fuel per ASM (CASM ex fuel) (cents) 5.63 5.89 (4.4)% 5.32 5.70 (6.7)%
Average block hours per aircraft per day 5.3 5.6 (5.4)% 5.7 6.0 (5.0)%

* Total system includes scheduled service, fixed-fee contract and non-revenue flying.

Third party products performance

  • For the fourth quarter 2012, ancillary revenue – third party products per passenger increased 6.4 percent versus last year.  This has been our eleventh consecutive quarter of year over year increases.
  • For the full year 2012, net revenue from hotels increased about five percent while net revenue from rental cars increased about 33 percent versus 2011
Supplemental Ancillary Revenue Information 

Unaudited (millions)

4Q12 4Q11 Change 2012 2011 Change
Gross ancillary revenue – third party products $24.9 $23.0 8.6% $119.0 $106.4 11.9%
Cost of goods sold ($16.2) ($15.2) 6.1% ($79.0) ($72.0) 9.7%
Transaction costs* ($.6) ($.9) (35.9)% ($3.9) ($4.5) (12.1)%
Ancillary revenue – third party products $8.2 $6.8 20.5% $36.1 $29.9 20.8%
As percent of gross 32.8% 29.6% 3.2pp 30.3% 28.1% 2.2pp
    As percent of income before taxes 34.9% 36.9% (2.0)pp 29.0% 37.6% (8.6)pp
Ancillary revenue – third party products/scheduled passenger $5.19 $4.88 6.4% $5.48 $5.18 5.8%
Hotel room nights (thousands) 137.5 142.6 (3.5)% 690.1 647.7 6.5%
Rental car days (thousands) 169.1 113.8 48.6% 763.4 577.7 32.1%

* Includes payment expenses and travel agency commissions.

Balance sheet highlights

  • We currently have $41 million in share repurchase authority
Unaudited (millions) 12/31/12 12/31/11 Change
Unrestricted cash* $352.7 $319.5 10.4%
Total debt $150.9 $146.1 3.3%
Total Allegiant Travel Company stockholders’ equity $400.5 $351.5 14.0%
Year ended December 31,
Unaudited (millions) 2012 2011 Change
Capital expenditures $105.1 $86.6 21.4%

* Unrestricted cash includes investments in marketable securities.

At this time, Allegiant Travel Company provides the following guidance to investors, subject to revision.

Guidance, subject to revision
Revenue guidance January 2013 1Q13
Estimated PRASM year-over-year change (13) to (11)% (8) to (6)%
Fixed fee and other revenue guidance 1Q13
Fixed fee and other revenue (millions) $4 to $6
 
Capacity guidance
System 1Q13 2Q13
   Departure year-over-year growth (8) to (4)% (7) to (3)%
   ASM year-over-year growth +12 to 16% +14 to 18%
Scheduled
   Departure year-over-year growth (2) to 2% 0 to 4%
   ASM year-over-year growth +15 to 19% +19 to 23%
Cost guidance 1Q13
CASM ex fuel – year-over-year change +1 to 3%
CAPEX guidance FY13
Capital expenditures (millions) $150 to $160
 

 

CASM ex fuel – cost per available seat mile excluding fuel expense

* Number of aircraft expected to be completed by end of the quarter

 

2013 aircraft fleet plan by end of quarter

Aircraft 1Q13 2Q13 3Q13 4Q13
MD-80 (166*) 51 51 51 51
MD-80 (non 166*) 6 5 1 1
757 6 6 6 6
A319 0 2 2 2
A320 0 0 2 7
Total 63 64 62 67

* 166 refers to MD-80s that are expected to be converted to 166 seat aircraft, non 166 refers to those aircraft that will not be converted

Aircraft listed in table above are considered in service aircraft

Copyright Photo: Ton Jochems. McDonnell Douglas DC-9-83 (MD-83) N416NV (msn 49555) is pictured arriving at the Las Vegas main hub.

Allegiant Air: AG Slide Show