Allegiant's latest results.

U.S. budget carrier Allegiant has reported preliminary passenger traffic results for June 2021 as well as second-quarter 2021.

"Demand strength persisted throughout the quarter with average daily bookings in excess of the same time period in 2019," stated Gregory Anderson, executive vice president and chief financial officer. "We continued to see load factor improvement throughout June with a nearly 10-point increase from May on year over two-year capacity growth of roughly 14 percent. Given the demand strength, scheduled service revenue, excluding fixed fee and other revenue, is estimated to be $467 million, down 1.3 percent when compared with 2019. This is better than initial expectations due to significantly increased breakage revenue1 related to the elevated issuance of credit vouchers throughout the pandemic as well as sustained yield strength throughout the quarter. Excluding breakage, yield was up nearly two percent when compared with the second quarter of 2019. Given the revenue strength observed throughout the quarter, we estimate an adjusted EBITDA margin2 of roughly 29 percent. Additional updates to guidance are included in the table below."

Scheduled Service – Year Over Two-Year Comparison
	June 2021	June 2019	Change
Passengers	1,630,204	1,594,128	2.3%
Revenue passenger miles (000)	1,395,232	1,355,240	3.0%
Available seat miles (000)	1,794,848	1,576,993	13.8%
Load factor	77.7%	85.9%	(8.2 pts)
Departures	12,416	11,176	11.1%
Average stage length (miles)	828	828	0.0%
	2nd Quarter 2021	2nd Quarter 2019	Change
Passengers	3,680,254	4,131,855	(10.9%)
Revenue passenger miles (000)	3,188,215	3,603,076	(11.5%)
Available seat miles (000)	4,505,786	4,311,182	4.5%
Load factor	70.8%	83.6%	(12.8pts)
Departures	30,763	29,567	4.0%
Average stage length (miles)	842	853	(1.3%)
Total System* - Year Over Two-Year Comparison
	June 2021	June 2019	Change
Passengers	1,635,716	1,606,651	1.8%
Available seat miles (000)	1,821,104	1,618,098	12.5%
Departures	12,642	11,478	10.1%
Average stage length (miles)	825	827	(0.2%)
	2nd Quarter 2021	2nd Quarter 2019	Change
Passengers	3,699,217	4,169,536	(11.3%)
Available seat miles (000)	4,594,542	4,447,066	3.3%
Departures	31,507	30,547	3.1%
Average stage length (miles)	838	853	(1.8%)
Scheduled Service – Year Over Year Comparison
	June 2021	June 2020	Change
Passengers	1,630,204	867,207	88.0%
Revenue passenger miles (000)	1,395,232	745,608	87.1%
Available seat miles (000)	1,794,848	1,301,559	37.9%
Load factor	77.7%	57.3%	20.4 pts
Departures	12,416	8,940	38.9%
Average stage length (miles)	828	846	(2.1%)
	2nd Quarter 2021	2nd Quarter 2020	Change
Passengers	3,680,254	1,266,077	190.7%
Revenue passenger miles (000)	3,188,215	1,107,534	187.9%
Available seat miles (000)	4,505,786	2,174,683	107.2%
Load factor	70.8%	50.9%	19.9pts
Departures	30,763	14,683	109.5%
Average stage length (miles)	842	855	(1.5%)
Total System* - Year Over Year Comparison
	June 2021	June 2020	Change
Passengers	1,635,716	868,927	88.2%
Available seat miles (000)	1,821,104	1,315,304	38.5%
Departures	12,642	9,105	38.8%
Average stage length (miles)	825	839	(1.7%)
	2nd Quarter 2021	2nd Quarter 2020	Change
Passengers	3,699,217	1,273,258	190.5%
Available seat miles (000)	4,594,542	2,220,755	106.9%
Departures	31,507	15,089	108.8%
Average stage length (miles)	838	850	(1.4%)

*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
June 2021 estimated average fuel cost per gallon – system	$2.11
	$ per gallon
2nd quarter 2021 estimated average fuel cost per gallon – system	$2.02

Allegiant Travel Company

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