Third quarter results for budget airline Allegiant.....

The U.S. budget airline Allegiant has just reported the following financial results for the third quarter 2023, as well as comparisons to the prior year.  The carrier,  back under the control of its former leader,  Maurice J. Gallagher, reported operational revenues that were fairly static at $565.4 million. 

"I am excited to be back in the role of CEO, particularly as the team continues to deliver strong operational and financial performance", stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant Travel Company. "The third quarter marked another quarter of airline operating profits, excluding special charges. Year to date we have delivered industry-leading financial performance yielding an adjusted airline-only operating margin of 13 percent. These accomplishments are directly attributable to Team Allegiant. You are the best in the industry, and I thank you for all your hard work and dedication. 

"As we move into the fourth quarter, we are all but done with the completion of Sunseeker Resort. Construction crews are wrapping up the last details, and we expect the property to open on December 15. A main driver behind my endorsement of this property was the quality of the management team. They have navigated the project from its inception nearly five years ago and they are world renowned. My conviction around the success of the property remains strong, and I am thrilled to begin realizing the benefits that Sunseeker Resort will provide.

"One of our primary focuses remains on enhancing our brand. The Allegiant credit card continues to materially impact the bottom line through new cardholder acquisitions and continued increases in cardholder spend. Year to date, we have received $88 million in remuneration from our partner, Bank of America. We expect this number to continue growing. Our investment in the Allegiant Extra product also continues to surpass our expectations. Currently 14 aircraft have been retrofitted with this product and we expect roughly one-third of the fleet to be retrofitted by the end of 2024. These diversified revenue streams, coupled with our unique, low-utilization model will continue to differentiate us from our peers."

"I am proud of the teams' efforts to deliver another profitable quarter in what is historically our weakest quarter of the year," stated Gregory Anderson, president of Allegiant Travel Company. "Despite fuel costs rising nearly 30 percent intra-quarter, the team delivered an airline-only adjusted earnings per share of $0.31 driven by an increase in TRASM of 1.4 percent over the prior year. This increase in unit revenue was extra impressive given the unprecedented strength of off-peak leisure demand during the same period last year. While leisure demand during our peak periods continues to outperform pre-pandemic levels, we experienced a return of normalization during the off-peak periods. Our ability to match capacity with leisure demand trends was nicely put on display as we reduced capacity by 45 percent during the off-peak period of September versus the peak season of July.

"We are continuing to strengthen our foundation by reinvesting back into the airline's future. During the third quarter, we successfully launched SAP and Navitaire – technology enhancements that will support our planned growth for years to come. Furthermore, we have readied ourselves for the delivery of our first Boeing 737 MAX aircraft in early 2024. This aircraft will strengthen our flexibility by providing more diversity in fleet composition further enabling us to deploy the right gauge aircraft in the right markets at the right times.

"It's an exciting time to be part of Team Allegiant. Several of our major initiatives will take shape in the coming months. These initiatives, coupled with our differentiated model, will help drive the long-term success of the company. This could not be achieved without the dedication and efforts of our team members throughout the organization. You are inspiring, and I extend my sincerest thanks."

Third Quarter 2023 Results and Highlights

Income before income tax, excluding specials(1)(3)(4) of $2.7M, yielding a pre-tax margin of 0.5% 

Airline-only income before income tax, excluding specials(1)(5) of $7.9M, yielding a pre-tax margin of 1.4%

Operating income, excluding specials(1)(3)(4) of $14.7M, yielding an operating margin of 2.6%

Airline-only operating income, excluding specials(1)(5) of $21.0M, yielding an airline-only operating margin of 3.7%

Consolidated EBITDA, excluding specials(1)(3)(4) of $70.3M, yielding an EBITDA margin of 12.4%

Airline-only EBITDA, excluding specials(1)(5) of $76.6M a 13.5% margin

Total operating revenue of $565.4M, up 0.9% over the prior year and the highest third-quarter total in company history

Total fixed fee contracts revenue of $17.7M, up 11.7% year-over-year

TRASM(2) of 12.78 ¢, up 1.4% year-over-year on scheduled service capacity decrease of 0.8% year-over-year

When compared to 2019, we are the only US carrier, among carriers having reported third quarter results, to be up more than 10 percent in both system available seat miles (ASMs) and TRASM(2) during the quarter as well as year to date

Total average fare of $129.23, up 2.6% year-over-year

Total average ancillary fare of $71.80, up 11.0% year-over-year

$88 million in year-to-date remuneration received from Bank of America, up 26% from the prior year

Announced a collaboration with global entertainment icon Carrie Underwood in support of the company's Allways Rewards Visa® card and loyalty program

Allways Rewards program enrolled 478K new members during the quarter, bringing total members to 16.7M

Airline-only operating CASM, excluding fuel and special charges(3), of 8.49 ¢, up 9.5% year-over-year

Includes $18.7M in incremental cost related to accrual of pilot retention bonuses

Excludes $15.2M in accelerated depreciation related to the early retirement of 21 airframes to be retired between 2023 through 2025

Year to date 2023 Results

Income before income tax, excluding specials(1)(3)(4) of $180.6M yielding a pre-tax margin of 9.5% 

Operating income, excluding specials(1)(3)(4) of $230.2M, yielding an operating margin of 12.1%

Consolidated EBITDA, excluding specials(1)(3)(4) of $394.4M, yielding an EBITDA margin of 20.8%

 

(1)

Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures.

(2)

TRASM represents total passenger revenue per scheduled service available seat mile.

(3)

In 2023 and 2022, we recognized as special charges the full amount of estimated property damage to Sunseeker Resort due to weather and other insured events less the amount of recognized insurance recoveries through the end of the applicable period. In 2023 we also recognized accelerated depreciation as special charges related to our revised fleet plan.

(4)

Adjusted to exclude the impacts of property damage to Sunseeker Resort, net of recoveries, and aircraft accelerated depreciation charges resulting from our revised fleet plan, as described above.

(5)

Adjusted to exclude accelerated depreciation charges related to our revised fleet plan, as described above.

Balance Sheet, Cash and Liquidity

Total available liquidity at September 30, 2023 was $1.3B, which included $1.0B in cash and investments, and $279.9M in undrawn revolving credit facilities and PDP facilities 

$24.5M in cash from operations during the third quarter 2023

Total debt at September 30, 2023 was $2.3B

Net debt at September 30, 2023 was $1.3B

Secured $412M in financing commitments during the quarter of which $196M was used to refinance seven Airbus A320 aircraft and $216M is committed to finance four Boeing 737 MAX aircraft to be delivered in 2024

Debt principal payments of $143.5M during the third quarter

Includes $113M prepayment of aircraft-secured facilities during the quarter

Year-to-date principal payments of $293M, including a total of $174M in prepayments

Issued notice to call $150M, 8.5% senior secured notes with the balance to be paid during the fourth quarter

Returned $11M in dividends during the third quarter

Air traffic liability at September 30, 2023 was $395.8M

Airline Capital Expenditures

Third quarter capital expenditures of $157.6M, which included $112.1M for aircraft purchases and inductions, pre-delivery deposits, and other related costs, and $45.5M in other airline capital expenditures

Third quarter deferred heavy maintenance spend was $13.8M

Sunseeker Resort Charlotte Harbor

Total capital expenditures(1) as of September 30, 2023 were $653M

Third quarter capital expenditures(1) were $71.6M

Recorded a special charge, net of insurance recoveries, of $17.4M during the third quarter 2023 related to estimated property damages at Sunseeker Resort resulting from various weather events, including Hurricane Idalia

Allegiant Travel Company expands operations at Nashville International Airport

Allegiant Travel Company announced it will relocate its Nashville International Airport's (BNA) operations from Concourse B to the brand new Satellite Concourse, setting the stage for the airline's next phase of growth at BNA.

  

The Las Vegas-based airline started operating at the C Gate Satellite Concourse on Saturday, which allows Allegiant passengers the ability to board and exit their aircraft in a new state-of-the-art facility designed to enhance their overall travel experience.

The move will allow the leisure travel-focused carrier to offer a more robust schedule of flights that includes opportunities for future expansion at BNA. Allegiant passengers will also be able to enjoy the amenities the new facility offers, such as expanded seating areas and dining and vendor options, while waiting for their flights.

"We are excited to have a new home at BNA. The new satellite concourse will give us the flexibility to better serve our customers," said Drew Wells, Allegiant's senior vice president of planning and revenue and chief revenue officer. "Nashville is a key part of our network, and this added capacity and new infrastructure will give us opportunity for even more future convenient and affordable travel options at BNA, while bringing economic and tourism benefits to the communities in Music City."

Allegiant gets funding for new aircraft

The U.S. budget airline Allegiant has signed the first of many future deals on finance that will see it turn away from Airbus and towards Boeing 737 MAX jets.

The airline announced this week financing commitments for seven Airbus A320 and four Boeing 737 MAX aircraft had been agreed from BNP Paribas and Jackson Square Aviation (JSA), a leading global commercial aircraft lessor.

The $412 million deal combines banking and lessor capital to secure Allegiant's aircraft financing needs into the second quarter of 2024, while providing the airline with extra liquidity at an attractive cost and keeping it flying in the competitive U.S. budget carrier market.

Robert Neal, Allegiant's senior vice president and chief financial officer said: "We are delighted with BNP Paribas and Jackson Square's creativity in providing what we believe is an efficient framework that affords us robust liquidity to support foundational investments in our fleet. This transaction taps into young A320 CEO aircraft and will also serve as the inaugural financing for our Boeing 737 MAX equipment"

Allegiant has drawn down $196 million on September 29, and the remainder will be drawn commensurate with its initial 737 MAX deliveries.   "Our relationship with BNP Paribas, spanning more than a decade, has been instrumental in our growth as an ultra-low-cost leader. We are thrilled to welcome Jackson Square Aviation as a new partner as we make air travel more affordable and accessible to leisure travellers," added Neal.

 Ankush Chowdhury, managing director & head of transportation banking and capital markets at BNP Paribas commented  "We are delighted to provide Allegiant, a long-standing client of the bank, an innovative and first-of-its-kind financing solution which combines bank and lessor capital into one transaction. This transaction allows the airline to maximize value while having more structural flexibility to manage its aircraft fleet versus the more traditional aircraft financing alternatives. BNP Paribas is honoured to partner with Jackson Square Aviation as we continue to innovate in the world of aviation finance with the goal of providing efficient and thoughtful financing solutions to our aviation clients,"

Allegiant currently operates an all-Airbus fleet comprised of 127 Airbus A319s and A320s and now also has purchase agreements for 130 Boeing 737 MAX jets in a multi-year deal with Boeing for less than half the MAX list price. 

Allegiant's founder to return as CEO.....

Allegiant Travel Company has confirmed that John Redmond has resigned as chief executive officer and as a member of the Board of Directors effective immediately.  Maurice J. Gallagher, former CEO, current executive chairman and one of the Company's largest stockholders, will resume the CEO role.

"I am grateful to the board for giving me the opportunity to be a part of this incredible organization," said Redmond. "I'm particularly proud of the Sunseeker team we've put in place, and I know they will carry the project over the finish line and establish the hotel as a premier destination in Southwest Florida." 

Gallagher, an innovator in the aviation industry, will also maintain his role as chairman of Allegiant's board.

"We have built a management team headed by Greg Anderson, President, and many other talented and dedicated executives that is among the best in the industry," Gallagher said. "This team is well-positioned to lead the Company as we continue to set the standard for the U.S. leisure travel sector."

JetBlue and Allegiant Announce Divestiture Agreement in Connection with JetBlue’s Combination with Spirit

Divestitures Help Promote the Continued Growth of Ultra-Low-Cost Options at Boston Logan, Newark Liberty International, and Fort Lauderdale-Hollywood Airports.

JetBlue Airways Corporation and Allegiant today announced that the airlines have entered into a definitive agreement under which JetBlue will transfer to Allegiant all of the holdings of Spirit Airlines, Inc. at Boston Logan International Airport and Newark Liberty International Airport. JetBlue will also turn over up to five gates and related ground facilities at Fort Lauderdale-Hollywood International Airport to promote ultra-low-cost carrier growth.

On June 1, JetBlue announced that it will divest all of Spirit’s holdings at New York’s LaGuardia Airport to Frontier. Together, these divestitures are part of JetBlue’s voluntary upfront commitments included in the merger agreement with Spirit and are conditioned on the closing of the JetBlue-Spirit transaction.

The divestitures are subject to approval by the local airport authorities as well as FAA/DOT, and are conditioned upon and will occur after the closing of JetBlue’s planned combination with Spirit. JetBlue expects to close the transaction with Spirit in the first half of 2024.

“Over the past twenty years, JetBlue has established itself as a competition MVP, bringing high-quality, affordable service to a wide variety of travellers across the United States,” said Robin Hayes, chief executive officer of JetBlue. “Merging with Spirit will allow us to bring our signature service and low fares to even more people and places across the country and beyond. Our divestiture commitment, while not needed to ensure the continued growth of the vibrant ultra-low-cost carrier segment, is aimed at removing any doubt of our commitment to promoting competition.”

“We are committed to long-term growth, especially in areas such as New York, Boston and Florida. This agreement will allow us to expand our service in these cities and ensure that customers have even more access to affordable, nonstop flights for their travel needs,” said Drew Wells, chief revenue officer, of Allegiant.

Under the terms of the agreement, JetBlue has agreed to transfer to Allegiant all of Spirit’s holdings in Boston and Newark, principally consisting of two gates in Boston, two gates in Newark, and 43 takeoff and landing authorizations in Newark. In addition, JetBlue has agreed to relinquish up to five gates at Fort Lauderdale to the Broward County Aviation Department and will work closely with the Department to facilitate Allegiant’s ULCC growth at FLL using these gates.

Allegiant strikes deal with dispatchers union....

Budget carrier Allegiant has advised that it has reached a preliminary deal with the International Brotherhood of Teamsters IBT (union) that represents dispatchers.

The Las Vegas-based company said it had reached a tentative agreement on a two-year extension to the union's initial collective bargaining agreement. The tentative agreement is subject to ratification by the Allegiant flight dispatchers, which is expected to occur by the end of May. Allegiant currently employs 50 flight dispatchers, coordinators, and instructors.

 

"We are pleased that we reached an agreement in the negotiations with the IBT and our dispatchers. This contract extension comes more than a year before the current one ends, thanks to the hard work and dedication of the negotiating teams for both Allegiant and the union," said Allegiant President Greg Anderson. "Our team of dispatchers plays a critical role in our operations, and we appreciate their commitment to this process."

The current collective bargaining agreement became effective on April 25, 2019, and was scheduled to become amendable on May 31, 2024. The parties opened off-the-record discussions early, resulting in a tentative agreement to replace the original rate increases scheduled for May 31 of this year, and adding two additional years addressing a change in rates only.   

Allegiant reports its Income before tax in the first quarter was $74.4 million

The Allegiant Travel Company has reported the following financial results for the first quarter 2023, as well as comparisons to the prior year. 

First Quarter 2023 Results

• Income before income tax of $74.4 million, yielding a pre-tax margin of 11.5 percent
• Airline-only income before income tax(1) of $78.9 million, yielding a pre-tax margin of 12.1 percent
• Operating income of $94.8 million, yielding an operating margin of 14.6 percent
• Airline-only operating income(1) of $97.6 million, yielding an airline-only operating margin of 15.0 percent
• Consolidated EBITDA(1) of $149.5 million, yielding an EBITDA margin of 23.0 percent
• Airline-only EBITDA(1) of $152.2 million, a 23.4 percent margin
• Total operating revenue was $649.7 million, up 29.9 percent over prior year
• Total fixed fee contracts revenue of $14.1 million, the highest first-quarter total in company history
• TRASM of 13.89 cents, up 28.8 percent year-over-year
• Load factor of 85.8 percent, a 6.9 point improvement year-over-year, among the highest in the industry
• Total average fare of $154.12, up 17.5 percent year-over-year, the highest quarterly average fare in company history
• Total average ancillary fare of $75.19, up 10.7 percent as compared to 2022 driven by overall strength in core products and promising early results related to the Allegiant Extra rollout
• Acquired over 46 thousand new Allways rewards credit card holders during the quarter, the highest quarterly acquisition in program history
• Received $28 million in remuneration during the quarter
• Airline-only Operating CASM, excluding fuel, of 7.75 cents, up 9.8 percent year-over-year
• Allegiant recently named to the Forbes' America's Best Midsize Employers for 2023, Newsweek's America's Greatest Workplaces for Diversity 2023, and Fortune's America's Most Innovative Companies 2023 lists

(1)	Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures

Balance Sheet, Cash and Liquidity

• Total available liquidity at March 31, 2023 of $1.5 billion, which includes $1.1 billion in cash and investments, and $412.2 million in undrawn revolving credit facilities and PDP facilities
• Repurchased 118 thousand shares during the first quarter at an average share price of $100.33
• $215.4 million in cash from operations during first quarter 2023, the highest first quarter in company history
• Total debt at March 31, 2023 was $2.1 billion
• Net debt at March 31, 2023 was $1.0 billion
• Debt principal payments of $51.5 million during the first quarter
• Air traffic liability at March 31, 2023 was $479.5 million

Airline Capital Expenditures

• First quarter capital expenditures of $92 million, which includes $56 million for aircraft purchases and inductions, pre-delivery deposits, and other related costs, and $36 million in other airline capital expenditures
• First quarter deferred heavy maintenance spend was $15 million

Sunseeker Resort Charlotte Harbor

• Total capital expenditures(1) as of March 31, 2023 were $571 million
• First quarter capital expenditures(1) were $82 million
• Previously recorded special charges were reduced by $1.6 million for approved insurance net recoveries related to outstanding insurance claims at Sunseeker Resort

"I am happy to report we delivered strong financial results during the first quarter with diluted earnings per share of $3.09," stated John Redmond, CEO of Allegiant Travel Company. "The team worked tirelessly to ensure operational integrity, and our controllable completion of 99.9 percent for the quarter is a testament to their efforts. Running a safe, reliable operation is a critical component to our success, and I could not be prouder of the team's performance.

Allegiant reports preliminary passenger traffic results for March 2023.

The Las Vegas-based Allegiant, has reported preliminary passenger traffic results for March 2023.

*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.

Since 1999, Allegiant Air has linked travellers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low-average fares. Today, Allegiant serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. 

Allegiant was recently named to the following lists:

Forbes' America's Best Midsize Employers 2023

Newsweek's America's Greatest Workplaces for Diversity 2023

Fortune's America's Most Innovative Companies 2023

"It gives us immense pride to receive these distinctions, which are all a direct reflection of Allegiant's efforts to establish the company as an employer of choice. We are committed to creating meaningful career opportunities for all of our team members while building a culture that they are excited to be part of," said Rebecca Henry, Allegiant's senior vice president and chief human resources officer.

For travel insurance....

Allegiant Travel Company earns three prestigious accolades......

Allegiant Travel Company earned three prestigious accolades from leading organizations Forbes, Newsweek and Fortune in recent days. The airline was recognized for its culture of inclusion, advancements in diversity, and its innovative business model.

   

Allegiant was recently named to the following lists:

Forbes' America's Best Midsize Employers 2023

Newsweek's America's Greatest Workplaces for Diversity 2023

Fortune's America's Most Innovative Companies 2023

"It gives us immense pride to receive these distinctions, which are all a direct reflection of Allegiant's efforts to establish the company as an employer of choice. We are committed to creating meaningful career opportunities for all of our team members while building a culture that they are excited to be part of," said Rebecca Henry, Allegiant's senior vice president and chief human resources officer.

The list of America's Best Employers 2023, presented by Forbes and Statista, Inc., the world's leading statistics portal and industry ranking provider, is based on independent surveys of employees working at companies in America. Only companies with 1,000 or more employees were included in the list, which can be viewed on the Forbes website.

Employees were asked to rate their willingness to recommend their own employers to friends and family.

"Since its early inception, Allegiant has been a pioneering company that's constantly striving to leverage the advantages of investing not only in our people, but innovation as well," added Henry. "Allegiant has earned these awards because of our unwavering efforts to make a positive impact on our team members. We put critical issues, such as diversity, pay equity, and inclusion front and center. We could not be more grateful to see leading organizations and our employees recognize our commitment."

Budget airline Allegiant shows off a new one-of-a-kind livery on an Airbus A320

Allegiant unveiled a special addition to its fleet this week: a one-of-a-kind livery designed by – and for – the airline's employees.

 

The new design, displayed on the tail and fuselage of an Airbus A320, is one of only six Allegiant aircraft featuring a special livery.

It is not often that Allegiant alters its famous sunburst livery, CEO John Redmond told a crowd of employees during a ceremony at Punta Gorda Airport in Florida Tuesday. But the company wanted to honor employees in a very public and permanent way.

"We wanted to find a way to show the world that our employees are the lifeblood of Allegiant,"  Redmond said. "This new livery is more than just a coat of paint, it's a symbol of the collective strength and resilience of being Allegiant Proud. We hope it serves as a reminder of the incredible things our employees can accomplish when we work together."

The livery is not only dedicated to Allegiant employees; the design was inspired by them. Employees were asked to submit words describing what they loved about Allegiant. Dozens of their choices, including "bold," "amazing," "limitless" and more, adorn the aircraft's fuselage, surrounding Allegiant's motto of "Together we fly."

The aircraft will be based in Punta Gorda, a community that endured the full force of Hurricane Ian when it hit Southwest Florida in September.

Allegiant to launch 8 new routes.....

The U.S. low-cost airline Allegiant has announced eight new nonstop routes to what it calls some of America's premier vacation destinations. The Las Vegas-based operator has been flying since 1999 and specializes in linking travellers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low-average fares. 

   

The routes, launching during this year's summer and fall travel seasons, will connect communities across the country to some of the most popular leisure hot spots, including Portland, Las Vegas, Myrtle Beach, Austin, Phoenix, Asheville, Chicago and Los Angeles.

"We continue to see historically high demand from leisure travellers, so we are thrilled to add these routes to our network and build on the success we've had in these markets," said Drew Wells, Allegiant senior vice president and chief revenue officer. "As travellers make their summer vacation plans, we know they will appreciate the low-cost, nonstop options offered by Allegiant."

The new route to Denver International Airport (DEN):

Allentown, Penn. via Lehigh Valley International Airport (ABE) – beginning June 15, 2023 with one-way fares as low as $59.*

 

The new seasonal route to Portland International Airport (PDX):

Appleton, WI. via Appleton International Airport (ATW) – beginning June 15, 2023 with one-way fares as low as $69.*

 

The new seasonal route to Austin-Bergstrom International Airport (AUS):

Omaha, Neb. via Omaha Airport (OMA) – beginning June 15, 2023 with one-way fares as low as $49.*

 

The new route to Phoenix Sky Harbor International Airport (PHX):

Asheville, North Carolina via Asheville Regional Airport (AVL) – beginning May 26, 2023 with one-way fares as low as $69.*

 

The new seasonal route to Myrtle Beach International Airport (MYR)

Akron, Ohio via Akron-Canton Airport (CAK) - beginning June 1, 2023 with one-way fares as low as $39.*

 

The new route to Harry Reid International Airport (LAS):

Lexington, Ky. via Blue Grass Airport (LEX) – beginning June 15, 2023 with one-way fares as low as $69.*

 

The new route to Chicago Midway International Airport (MDW):

Provo, Utah via Provo Airport (PVU) – beginning June 16, 2023 with one-way fares as low as $59.*

 

The new seasonal route to Los Angeles International Airport (LAX):

Sioux Falls, S.D. via Sioux Falls Regional Airport (FSD) – beginning June 14, 2023 with one-way fares as low as $59.*

 

The new nonstop routes will operate twice weekly. Flight days, times and the lowest fares can be found only at Allegiant.com.

*About the introductory one-way fares:

Seats and dates are limited and fares are not available on all flights. Flights must be purchased by Feb. 21, 2023 for travel by Nov. 13, 2023. Price displayed includes taxes, carrier charges & government fees. Fare rules, routes and schedules are subject to change without notice. Optional baggage charges and additional restrictions may apply. 

Scott Sheldon has confirmed he is retiring as President and Chief Operating Officer of the budget airline Allegiant,.

Scott Sheldon has confirmed he is retiring as President and Chief Operating Officer of the budget airline Allegiant, with the effect of April 1, 2023.

Greg Anderson will continue to serve as President and will assume oversight of the company's operational teams.  Keny Wilper, Allegiant's Senior Vice President of OCC and Stations, will assume the role of interim Chief Operating Officer.

"I am incredibly proud of the work Scott has done throughout his tenure here at Allegiant," said John Redmond, Allegiant's Chief Executive Officer.  "His influence, leadership, and guidance permeated all levels of the organization, and the company would not be where it is today without his contributions.  I want to thank him for his many years of service.  I speak for all of Allegiant when I say Scott's voice will be missed within the halls and walls of our company and that we wish him the absolute best in all his future endeavours."

Allegiant Travel Company reports preliminary passenger traffic results for November 2022.

Allegiant Travel Company reports preliminary

passenger traffic results for November 2022.  

Las Vegas-based Allegiant, an integrated travel company with an airline at its heart, that features small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares, has just released details of its November performance. 

Scheduled Service – Year Over Three-Year Comparison
	November 2022	November 2019	Change
Passengers	1,193,686	1,101,346	8.4 %
Revenue passenger miles (000)	1,094,020	962,614	13.7 %
Available seat miles (000)	1,272,381	1,197,831	6.2 %
Load factor	86.0 %	80.4 %	5.6 pts
Departures	8,085	8,189	(1.3 %)
Average stage length (miles)	891	857	4.0 %
Total System* - Year Over Three-Year Comparison
	November 2022	November 2019	Change
Passengers	1,221,545	1,129,065	8.2 %
Available seat miles (000)	1,342,100	1,255,381	6.9 %
Departures	8,680	8,739	(0.7 %)
Average stage length (miles)	875	841	4.0 %
Scheduled Service – Year Over Year Comparison
	November 2022	November 2021	Change
Passengers	1,193,686	1,187,477	0.5 %
Revenue passenger miles (000)	1,094,020	1,066,154	2.6 %
Available seat miles (000)	1,272,381	1,373,420	(7.4 %)
Load factor	86.0 %	77.6 %	8.4 pts
Departures	8,085	8,923	(9.4 %)
Average stage length (miles)	891	876	1.7 %
Total System* - Year Over Year Comparison
	November 2022	November 2021	Change
Passengers	1,221,545	1,211,017	0.9 %
Available seat miles (000)	1,342,100	1,430,727	(6.2 %)
Departures	8,680	9,448	(8.1 %)
Average stage length (miles)	875	862	1.5 %

*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.