2022-09-29 | NDAQ:ALGT | Press release

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LA VEGAS, September 29, 2022 /PRNewswire/ — Allegiant Travel Company (NASDAQ:ALGT) today announced preliminary passenger traffic results for August 2022.

“As we emerged from the peak summer travel season, the demand environment remained strong,” said Drew Wells, Senior Vice President, Revenue. “We ended August with nearly two points improvement in loads compared to August 2019, with 14.6% more capacity. We were on track to exceed our revenue target of 29 %, over three years However, the impacts of Hurricane Ian caused the cancellation of the majority of our flights affecting Florida over the next few days. While the situation continues to evolve, we believe Ian’s impacts will lower our earnings guide by 1.5 percentage points.”

“Over the past few days, our HQ and Florida base team members are preparing for Hurricane Ian,” said Gregory Anderson, President and Chief Financial Officer. “We communicated with customers early and provided relocations at no cost, including refunds to give them time to adjust their travel plans. We also repositioned aircraft out of the Florida area and provided options for our team members, their families and their pets to seek refuge at other bases. Sunseeker crews worked around the clock to help protect the resort. We are extremely proud of the teamwork of all of our team members and service providers to ensure the safest possible environment as we await the final impact of Hurricane Ian.

While the overall financial and operational impacts are yet to be determined, we have updated our quarterly guidance to include these expected headwinds, as shown in the table below.”

Previous

Running

System ASM – one year to three year variation1

~16%

~14.5%

Regular service ASM – change from one year to three years1

~18%

~17%

Total operating revenue – year over three year change1

~29%

~27.5%

Operating CASM, excluding fuel – variation over three years1 2

~10%

13 to 14%

Interest charges for the year 2022

$85 to $95

$95 to $100

Loss on extinguishment of debt3

N / A

$4.9 million

Fuel cost per gallon

$3.80

$3.87

Regular Service – One Year to Three Year Comparison

August 2022

August 2019

To change

Passengers

1,379,071

1,241,846

11.1%

Revenue passenger miles (000)

1,223,427

1,047,568

16.8%

Seat miles available (000)

1,408,597

1,229,543

14.6%

Load factor

86.9%

85.2%

1.7 points

departures

9,287

8,768

5.9%

Average stage length (miles)

859

822

4.5%

Total System* – One-Year-Three-Year Comparison

August 2022

August 2019

To change

Passengers

1,386,149

1,256,712

10.3%

Seat miles available (000)

1,444,626

1,306,860

10.5%

departures

9,567

9,294

2.9%

Average stage length (miles)

855

824

3.8%

Scheduled Service – Year-over-Year Comparison

August 2022

August 2021

To change

Passengers

1,379,071

1,179,414

16.9%

Revenue passenger miles (000)

1,223,427

1,021,613

19.8%

Seat miles available (000)

1,408,597

1,377,398

2.3%

Load factor

86.9%

74.2%

12.7 points

departures

9,287

9,451

(1.7%)

Average stage length (miles)

859

835

2.9%

Total System* – Year-on-Year Comparison

August 2022

August 2021

To change

Passengers

1,386,149

1,185,944

16.9%

Seat miles available (000)

1,444,626

1,408,554

2.6%

departures

9,567

9,725

(1.6%)

Average stage length (miles)

855

830

3.0%

*Total system includes scheduled service and flat fee contract. System revenue passenger miles and system load factor are not useful statistics, as system available seat miles include both ASM flown by fixed-fare flights as well as non-generating repositioning flights revenue used for operational needs. Fixed fare flights are best measured by dollar contribution rather than operational statistics.

Preliminary financial results

$ per liter

Estimated average fuel cost per gallon in August 2022 – system

$3.66

Allegiant Travel Company

VegasAllegiant (NASDAQ:ALGT) is an integrated travel agency with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has connected travelers from small and mid-sized cities to world-class vacation destinations with nonstop flights and some of the lowest average fares in the industry. Today, Allegiant’s fleet serves communities across the country, with base airfares less than half the cost of an average domestic round-trip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF

ALGT/G

Note: This press release was accurate as of the date of publication. However, the information in the November release has changed. If you plan to use the information contained herein for any purpose, verifying its continued accuracy is your responsibility.

For more information, please visit the company’s investor website: http://ir.allegiantair.com

Reference to the Company’s website above does not constitute incorporation of any of the information contained therein in this press release.

1 Percentage changes over three years between 2022 and 2019

2 Operating CASM, excluding fuel, excluding impact of excess profit sharing

3 Loss on extinguishment of debt is a non-recurring non-operating charge related to the refinancing of Term Loan B in August 2022

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SOURCEAllegiant Travel Company

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