ALLEGIANT TRAVEL COMPANY LAS VEGAS, April 10, 2017 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for March 2017 and first quarter 2017.
"March unit revenue came in lighter than expected," stated Lukas Johnson, SVP, commercial. "The uniqueness of Easter shifting further into April led to monthly and quarterly TRASM underperformance of our guided range. Second quarter bookings continue to look strong and neutralizing for the Easter shift, the combination of March and April is expected to produce positive unit revenue growth versus the same period last year. In addition, we still expect second quarter TRASM to be positive and will provide greater detail on our earnings call on April 25. We are also guiding third quarter ASMs to grow between three and seven percent. This has always been the 2017 plan as we ramp up the level of MD-80 spares for the summer. We are still on schedule to grow full year 2017 ASMs between eight and twelve percent."
TRASM impact
------------
Initial Q1 2017 TRASM guidance (3.5) to (1.5)%
Impact on March of Easter in
April versus previous
expectations (1.0)%
Impact of weather and operations (0.5)%
Assumed continued strength in
demand from Q1 (0.5)%
-----
Revised Q1 2017 TRASM guidance (4.8) to (4.4)%
Scheduled Service
-----------------
March 2017 March 2016 Change
---------- ---------- ------
Passengers 1,143,571 1,043,333 9.6%
Revenue
passenger
miles (000) 1,072,847 1,010,390 6.2%
Available
seat miles
(000) 1,269,107 1,142,024 11.1%
Load factor 84.5% 88.5% (4.0) pts
Departures 8,269 7,136 15.9%
Average
stage
length
(miles) 916 947 (3.3%)
1st quarter 2017 1st quarter 2016 Change
---------------- ---------------- ------
Passengers 2,845,480 2,567,309 10.8%
Revenue
passenger
miles (000) 2,661,934 2,483,553 7.2%
Available
seat miles
(000) 3,237,164 2,897,951 11.7%
Load factor 82.2% 85.7% (3.5) pts
Departures 21,248 18,175 16.9%
Average
stage
length
(miles) 908 940 (3.4%)
Total System*
------------
March 2017 March 2016 Change
---------- ---------- ------
Passengers 1,154,591 1,052,645 9.7%
Revenue
passenger
miles (000) 1,087,972 1,023,248 6.3%
Available seat
miles (000) 1,315,169 1,183,356 11.1%
Load factor 82.7% 86.5% (3.8) pts
Departures 8,637 7,445 16.0%
Average stage
length
(miles) 910 940 (3.2%)
1st quarter 2017 1st quarter 2016 Change
---------------- ---------------- ------
Passengers 2,881,248 2,592,907 11.1%
Revenue
passenger
miles (000) 2,708,498 2,520,149 7.5%
Available seat
miles (000) 3,376,837 3,001,384 12.5%
Load factor 80.2% 84.0% (3.8) pts
Departures 22,295 18,918 17.9%
Average stage
length
(miles) 903 935 (3.4%)
Preliminary Financial Results
-----------------------------
Change
February 2017 actual year-
over-year
Scheduled total revenue per
scheduled ASM (TRASM)
change (2.8%)
March 2017 estimated year-
over-year TRASM change (4.4%) to (4.0%)
1st quarter 2017 estimated
year-over-year TRASM
change (4.8%) to (4.4%)
$ per gallon
March 2017 estimated
average fuel cost per
gallon - system $1.78
$ per gallon
1st quarter 2017 estimated
average fuel cost per
gallon - system $1.81
Guidance
--------
Capacity guidance, subject Year over Year
to revision Growth
--------------------------
Departures ASMs
---------- ----
April 2017
Scheduled +21% +18%
2nd Quarter 2017
System +14 to 18% +11 to 15%
Scheduled +14 to 18% +11 to 15%
3rd Quarter 2017
System +4 to 8% +3 to 7%
Scheduled +4 to 8% +3 to 7%
ASMs - Available seat miles
Cost and revenue guidance, subject to revision
----------------------------------------------
Cost guidance
1st quarter 2017
Cost per available seat
mile excluding fuel (CASM-
ex fuel) - year over year
change 11.6 to 12.0%
Fixed fee and other revenue
guidance
1st quarter 2017
Fixed fee revenue and other
revenue (millions) $18.4 to $19.4
About Allegiant
Las Vegas-based Allegiant (NASDAQ: ALGT) is focused on linking travelers in small cities to world-class leisure destinations. The airline offers industry-low fares on an all-jet fleet while also offering other travel-related products such as hotel rooms, rental cars and attraction tickets. All can be purchased only through the company website, Allegiant.com. Beginning with one aircraft and one route in 1999, the company has grown to over 80 aircraft and more than 300 routes across the country with base airfares less than half the cost of the average domestic roundtrip ticket. For downloadable press kit, including photos, visit: http://gofly.us/iiFa303wrtF.
ALGT/G
Note: This news release was accurate at the date of issuance. However, information contained in the release may have changed. If you plan to use the information contained herein for any purpose, verification of its continued accuracy is your responsibility.
For further 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 thereon into this news release.
Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements are only estimates or predictions based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include our statements regarding future departure and capacity growth. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "guidance","believe," "expect," "anticipate," "intend," "plan," "estimate," "project," "hope" or similar expressions.
Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in the forward-looking statements. Important risk factors that could cause our results to differ materially from those expressed in the forward-looking statements generally may be found in our periodic reports filed with the Securities and Exchange Commission at www.sec.gov.
Any forward-looking statements are based on information available to us today and we undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.
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SOURCE Allegiant Travel Company
