PR Newswire | Jul 13, 2021 12:58PM EDT

07/13 11:57 CDT

Allegiant Reports June 2021 Traffic LAS VEGAS, July 13, 2021

LAS VEGAS, July 13, 2021 /PRNewswire/ -- Allegiant Travel Company(NASDAQ: ALGT) today 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."

Previous Current

Scheduled service revenue - year over two-year change, excluding fixed feeDown 6 to 10%Down 1.3%^3 and other revenue

Total operating revenue - year over two-year change N/A Down 4.0%

Fuel cost per gallon $1.99 $2.02

Weighted average share count for the second quarter 16.2 million 17.1 million

^1 Breakage accounts for just below five percent of scheduled service revenue. ^2 Adjusted to exclude impacts from the CARES Act and profit sharing. ^3 The removal of incremental breakage results in a year over two-year decrease to scheduled service revenue of approximately 6.3 percent.

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%

2^nd Quarter 2021 2^nd 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%)

2^nd Quarter 2021 2^nd 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%)

2^nd Quarter 2021 2^nd 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%)

2^nd Quarter 2021 2^nd 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

2^nd quarter 2021 estimated average fuel cost per gallon - system $2.02

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

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.

Allegiant Media Contact: Investor Inquiries:

Hilarie Grey Sherry Wilson

email: mediarelations@allegiantair.com email: ir@allegiantair.com

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SOURCE Allegiant Travel Company