Allegiant Reports March 2021 Traffic

LAS VEGAS, April 9, 2021 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for March 2021 as well as first quarter 2021.

"We are encouraged by the meaningful improvement in customer demand throughout the month of March," stated Gregory Anderson, executive vice president and chief financial officer. "Average daily bookings for the month exceeded average daily bookings during the same time period in 2019. The significant improvement in March demand coupled with our industry-leading cost structure enabled us to generate positive EPS and EBITDA for the month of March, excluding the benefit from the payroll support grant. For the March quarter, we expect adjusted¹ CASM, excluding fuel, to be down 3 to 4 percent, year over two-year."

"Capacity was up roughly three percent, when compared to 2019, with March capacity up 14 percent," stated Drew Wells, senior vice president, revenue. "Although this caused some load pressure, our focus remains on generating positive cash flows and optimizing profits. We continue to expect first quarter total revenue to fall in the middle of our previous guide of down 35 to 40 percent, when compared with 2019. We remain optimistic about peak summer travel. With national vaccination rates steadily increasing and average daily bookings trending in the right direction, we expect sequential revenue improvements into the second quarter."

¹ Adjusted to exclude the impact of the payroll support grant.

*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.

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.

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SOURCE Allegiant Travel Company