ALLEGIANT REPORTS JUNE 2022 TRAFFIC

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Jul 25, 2022, 15:56 ET

LAS VEGAS, July 25, 2022 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for June 2022 as well as second quarter 2022.

"Total revenue for the second quarter was roughly $629 million, up 28 percent from 2019," stated Drew Wells, senior vice president, revenue. "Demand strength persisted throughout the quarter resulting in TRASM increases of over 15 percent, year over three-year, on capacity growth in excess of 13 percent, when compared with 2019. The month of June was particularly strong with TRASM up roughly 20 percent for the month, year over three-year. July TRASM is currently trending in-line with June yielding similar year over three-year percentage increases. In addition, we expect July's load factor to come in slightly higher than June's result of 90 percent."

"Second quarter CASM, excluding fuel and 2022 employee recognition bonus, was up 14 percent year over three-year, in-line with our prior guidance," stated Gregory Anderson, executive vice president, chief financial officer. "Our fuel cost per gallon was $4.32, slightly above our previous guidance. This increase in fuel price coupled with a slight reduction in fuel efficiency from the first quarter, attributable to a more than eight-point increase in load factor, resulted in roughly $9 million in incremental fuel expense for the quarter. Based on the above results, we expect an earnings per share, excluding 2022 employee recognition bonus, of roughly $0.62 for the second quarter."

Scheduled Service – Year Over Three-Year Comparison

	June 2022	June 2019	Change
Passengers	1,740,643	1,594,128	9.2 %
Revenue passenger miles (000)	1,555,121	1,355,240	14.7 %
Available seat miles (000)	1,729,925	1,576,993	9.7 %
Load factor	89.9 %	85.9 %	4.0 pts
Departures	11,274	11,176	0.9 %
Average stage length (miles)	870	828	5.1 %

	2^nd Quarter 2022	2^nd Quarter 2019	Change
Passengers	4,711,001	4,131,855	14.0 %
Revenue passenger miles (000)	4,267,828	3,603,076	18.4 %
Available seat miles (000)	4,888,539	4,311,182	13.4 %
Load factor	87.3 %	83.6 %	3.7 pts
Departures	31,402	29,567	6.2 %
Average stage length (miles)	883	853	3.5 %

*Total System - Year Over Three-Year Comparison**

	June 2022	June 2019	Change
Passengers	1,748,655	1,606,651	8.8 %
Available seat miles (000)	1,759,467	1,618,098	8.7 %
Departures	11,484	11,478	0.1 %
Average stage length (miles)	869	827	5.1 %

	2^nd Quarter 2022	2^nd Quarter 2019	Change
Passengers	4,740,399	4,169,536	13.7 %
Available seat miles (000)	4,990,086	4,447,066	12.2 %
Departures	32,138	30,547	5.2 %
Average stage length (miles)	881	853	3.3 %

Scheduled Service – Year Over Year Comparison

	June 2022	June 2021	Change
Passengers	1,740,643	1,630,204	6.8 %
Revenue passenger miles (000)	1,555,121	1,395,232	11.5 %
Available seat miles (000)	1,729,925	1,794,848	(3.6 %)
Load factor	89.9 %	77.7 %	12.2 pts
Departures	11,274	12,416	(9.2 %)
Average stage length (miles)	870	828	5.1 %

	2^nd Quarter 2022	2^nd Quarter 2021	Change
Passengers	4,711,001	3,680,254	28.0 %
Revenue passenger miles (000)	4,267,828	3,188,215	33.9 %
Available seat miles (000)	4,888,539	4,505,786	8.5 %
Load factor	87.3 %	70.8 %	16.5 pts
Departures	31,402	30,763	2.1 %
Average stage length (miles)	883	842	4.9 %

*Total System - Year Over Year Comparison**

	June 2022	June 2021	Change
Passengers	1,748,655	1,635,716	6.9 %
Available seat miles (000)	1,759,467	1,821,104	(3.4 %)
Departures	11,484	12,642	(9.2 %)
Average stage length (miles)	869	825	5.3 %

	2^nd Quarter 2022	2^nd Quarter 2021	Change
Passengers	4,740,399	3,699,217	28.1 %
Available seat miles (000)	4,990,086	4,594,542	8.6 %
Departures	32,138	31,507	2.0 %
Average stage length (miles)	881	838	5.1 %

*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 2022 estimated average fuel cost per gallon – system	$4.40

	$ per gallon
2^nd quarter 2022 estimated average fuel cost per gallon – system	$4.32

Allegiant Travel Company

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF

ALGT/G

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