LAS VEGAS, NV --(Marketwired - July 07, 2016) - Allegiant Travel Company (
"June was a difficult operational month for us," stated Jude Bricker, COO and SVP of Planning. "This drove a high number of cancellations and subsequent passenger refunds. Without these refunds, TRASM for the quarter would have been about 0.5 percentage points better than we are estimating in this release."
"During the second quarter, we received a significant fuel tax refund from the State of Florida," stated Scott Sheldon, CFO and Senior Vice President. "This reduction in fuel expense nets out to an average cost of $1.36 per gallon for the quarter versus $1.55 per gallon had we not received the refund. Also during this quarter we incurred our first major maintenance event for the Airbus aircraft and adopted the deferral method to account for these costs. The application of the deferral method for Airbus major maintenance costs coupled with lower than expected salary and benefits expense are the primary drivers of CASM ex fuel coming in under forecast."
Scheduled Service
| June 2016 | June 2015 | Change | ||||
| Passengers | 1,128,111 | 934,332 | 20.7% | |||
| Revenue passenger miles (000) | 1,025,627 | 867,613 | 18.2% | |||
| Available seat miles (000) | 1,181,113 | 978,592 | 20.7% | |||
| Load factor | 86.8% | 88.7% | (1.9) pts | |||
| Departures | 7,905 | 6,428 | 23.0% | |||
| Average stage length (miles) | 881 | 894 | (1.5%) | |||
| Q2 2016 | Q2 2015 | Change | ||||
| Passengers | 2,850,112 | 2,426,985 | 17.4% | |||
| Revenue passenger miles (000) | 2,626,770 | 2,279,600 | 15.2% | |||
| Available seat miles (000) | 3,072,135 | 2,628,205 | 16.9% | |||
| Load factor | 85.5% | 86.7% | (1.2) pts | |||
| Departures | 20,171 | 16,949 | 19.0% | |||
| Average stage length (miles) | 897 | 912 | (1.6%) |
Total System *
| June 2016 | June 2015 | Change | ||||
| Passengers | 1,137,690 | 945,224 | 20.4% | |||
| Revenue passenger miles (000) | 1,039,829 | 875,645 | 18.8% | |||
| Available seat miles (000) | 1,219,344 | 999,222 | 22.0% | |||
| Load factor | 85.3% | 87.6% | (2.3) pts | |||
| Departures | 8,181 | 6,677 | 22.5% | |||
| Average stage length (miles) | 879 | 879 | 0.0% |
| Q2 2016 | Q2 2015 | Change | ||||
| Passengers | 2,878,460 | 2,462,822 | 16.9% | |||
| Revenue passenger miles (000) | 2,665,753 | 2,307,065 | 15.5% | |||
| Available seat miles (000) | 3,178,904 | 2,690,457 | 18.2% | |||
| Load factor | 83.9% | 85.7% | (1.8) pts | |||
| Departures | 20,969 | 17,659 | 18.7% | |||
| Average stage length (miles) | 893 | 896 | (0.3%) |
*Total system includes scheduled service and fixed fee contract.
Preliminary Financial Results
| Change | |||
| May 2016 actual year-over-year | |||
| Scheduled total revenue per scheduled ASM (TRASM) change | (7.4%) | ||
| June 2016 estimated year-over-year TRASM change | (9.0%) to (8.6%) | ||
| Q2 2016 estimated year-over-year TRASM change | (9.6%) to (9.2%) | ||
| $ per gallon | |||
| June 2016 estimated average fuel cost per gallon - system | $1.68 | ||
| June 2016 estimated average fuel cost per gallon - scheduled | $1.68 | ||
| $ per gallon | |||
| Q2 2016 estimated average fuel cost per gallon - system | $1.55 | ||
| Q2 2016 estimated average fuel cost per gallon - scheduled | $1.55 | ||
| Q2 2016 estimated average fuel cost per gallon - system (net of tax refund) | $1.36 | ||
Guidance
| Capacity guidance, subject to revision | Year over Year Growth | |||||
| Departures | ASMs | |||||
| July 2016 | ||||||
| Scheduled | +18% | +17% | ||||
| 3rd Quarter 2016 | ||||||
| System | +18 to 22% | +15 to 19% | ||||
| Scheduled | +18 to 22% | +15 to 19% | ||||
| 4th Quarter 2016 | ||||||
| System | +14 to 18% | +9 to 13% | ||||
| Scheduled | +14 to 18% | +9 to 13% | ||||
ASMs - Available seat miles
| Cost and revenue guidance, subject to revision | ||
| Cost guidance | ||
| 2nd Quarter 2016 | ||
| Cost per available seat mile excluding fuel (CASM-ex fuel) - year over year change | 1.6 to 2.0% | |
| Fixed fee and other revenue guidance | ||
| 2nd Quarter 2016 | ||
| Fixed fee revenue and other revenue (millions) | $14.0 to $15.0 | |
Allegiant, Travel is our deal. ® Las Vegas-based Allegiant (
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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.
Allegiant Media Contact: Hilarie Grey e-mail: mediarelations@allegiantair.com Investor Inquiries: Chris Allen e-mail: ir@allegiantair.com
