Allegiant Reports August 2024 Traffic

Core Insights - Allegiant Travel Company reported strong demand in the third quarter, with improved unit revenue expectations compared to prior forecasts [2] - The company anticipates a year-over-year decrease in unit revenues of approximately 5.5%, an improvement from the previously expected 7.5% decline [2] - Holiday bookings are showing strength, with an 18% increase in December capacity compared to 2023 [2] Passenger Traffic Results - In August 2024, Allegiant served 1,327,765 passengers, a 1.3% increase from 1,310,751 passengers in August 2023 [4] - Revenue passenger miles for August 2024 were 1,173,459, up 0.8% from 1,163,582 in August 2023 [4] - Available seat miles increased by 2.7% to 1,389,464 in August 2024 from 1,353,230 in August 2023 [4] - The load factor decreased by 1.5 percentage points to 84.5% in August 2024 compared to 86.0% in August 2023 [4] Financial Guidance - The company expects non-fuel unit costs to rise by approximately 4.5% in the third quarter, which is 2.5 points better than previously anticipated [2] - Fuel costs are projected to average $2.70 per gallon for the third quarter, down from an earlier estimate of $2.80 [2] - The updated guidance for airline-only operating margin is expected to be between (0.5%) and (1.5%), an improvement from the previous range of (4.5%) to (6.5%) [3] System Performance - Total system passengers in August 2024 reached 1,344,533, a 1.8% increase from 1,320,721 in August 2023 [5] - Total available seat miles for the system increased by 3.0% to 1,444,380 in August 2024 from 1,402,344 in August 2023 [5] - Departures rose by 3.7% to 9,553 in August 2024 compared to 9,211 in August 2023 [5]