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ALGT

Allegiant Travel Company Common Stock Nasdaq Global Select
$225.25
Open: $222.5 High: $227 Low: $214.5 Close: $221
Range: 2021-05-06 - 2021-05-07
Volume: 879,963
Market: Closed
Powered by Finage Stock APIDelayed data
ALGT
Allegiant Travel Company Common Stock 1201 North Town Center Drive Las Vegas NV, 89144 https://www.allegiant.com
Allegiant Travel Co provides travel services in the United States. It sells air transportation on a stand-alone basis, or bundled with air-related and third-party services and products.
  • CEO: Maurice J. Gallagher
  • Employees: 3,835
  • Sector: Industrials
  • Industry: Airlines
ALGT News
Latest news about the ALGT
  • Airline Stock Roundup: GOL & ALGT Report Q1 Loss Amid Coronavirus Woes

    Carriers like Gol Linhas (GOL), Allegiant Travel (ALGT) and SkyWest (SKYW) report a massive decline in respective Q1 passenger revenues.

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  • Allegiant Travel Company Announces Pricing Of Common Stock

    Allegiant Travel Company (NASDAQ: ALGT) ("Allegiant", "we," "us," or "our") has announced that it priced the underwritten public offering of 1,350,000 shares of its common stock (the "Shares" and such offering the "Offering") at a public offering price of $219.00 per Share, for aggregate gross proceeds of $295,650,000.00. Allegiant has granted the underwriters of the Offering a 30-day option to purchase up to 202,500 additional Shares. The Offering is expected to close on or about May 10, 2021, subject to the satisfaction of customary closing conditions.

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  • Allegiant Travel Company Announces Offering Of Common Stock

    Allegiant Travel Company (NASDAQ: ALGT) ("Allegiant", "we," "us," or "our") has commenced an underwritten public offering of 1,350,000 shares of its common stock (the "Shares" and such offering the "Offering"). Allegiant intends to grant the underwriters of the Offering a 30-day option to purchase up to 202,500 additional Shares.

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  • Allegiant (ALGT) Reports Wider-Than-Expected Loss in Q1

    Fall in passenger revenue hurts Allegiant's (ALGT) March-end financials.

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  • Leisure Travel Is Roaring Back. Allegiant Travel Stock Is Winning Big.

    Allegiant Travel’s first-quarter results missed Wall Street’s forecasts for revenue and earnings, but investors and analysts don’t seem to care. They are focused on the comeback in domestic leisure travel.

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  • Allegiant Travel Co (ALGT) Q1 2021 Earnings Call Transcript

    ALGT earnings call for the period ending March 31, 2021.

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  • TELEO Capital Completes Significant Growth Equity Investment In Teesnap

    TELEO Capital Management, LLC ("TELEO") announced a significant growth equity investment in Teesnap, LLC ("Teesnap or the Business"), a golf course operations management software platform. TELEO will be partnering with existing shareholder, Allegiant Travel Company ("Allegiant"), to invest in product and go-to-market initiatives.

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  • Allegiant Travel (ALGT) Reports Q1 Loss, Lags Revenue Estimates

    Allegiant Travel (ALGT) delivered earnings and revenue surprises of -12.93% and -1.83%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

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  • Allegiant Travel Company First Quarter 2021 Financial Results

    Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the first quarter 2021, as well as comparisons to the prior years:

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  • U.S. Airlines' Q1 Earnings Show Progress: Rosy Days Ahead?

    Focus on cargo revenues boosts the top lines of carriers like American Airlines (AAL) and United Airlines (UAL) in Q1.

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  • Allegiant Travel Company Announces Date Change For First Quarter 2021 Earnings Call

    Allegiant Travel Company (NASDAQ: ALGT) has changed the date of its previously announced earnings conference call due to a scheduling conflict with a different carrier. The call will now be Tuesday, May 4 at 4:30 p.m. EDT. A live broadcast of the conference call will be available through the company's Investor Relations website homepage at http://ir.allegiantair.com. The webcast will also be archived on the "Events & Presentations" section of the site.

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  • Allegiant Travel Company Schedules First Quarter 2021 Earnings Call

    Allegiant Travel Company (NASDAQ: ALGT) has scheduled its first quarter 2021 financial results conference call for Thursday, April 29 at 4:30 p.m. EDT. A live broadcast of the conference call will be available through the company's Investor Relations website homepage at http://ir.allegiantair.com. The webcast will also be archived on the "Events & Presentations" section of the site.

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  • Airline Stock Roundup: AAL, UAL's Dim Q1 Views, AZUL's Dull Traffic Data & More

    Carriers like United Airlines (UAL) and American Airlines (AAL) expect significant declines in their respective Q1 revenues from the first-quarter 2019 levels.

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  • Allegiant Announces Agreement in Principle for Maintenance Technicians and Related Workforce First Contract with International Brotherhood of Teamsters

    Allegiant (NASDAQ: ALGT) today announces that the company and the International Brotherhood of Teamsters (IBT), representing Allegiant's workforce of maintenance technician and related employees, have reached an agreement in principle on all remaining open issues for the first collective bargaining agreement between the parties. The agreement in principle is subject to finalization between the parties and ratification by the employee group, which includes line and heavy maintenance technicians as well as stores employees and some administrative maintenance staff. A ratification vote is expected to occur by the end of July, 2021. Allegiant currently employs 415 maintenance technician and related employees.

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  • Airline Investors See a Post-Pandemic Rebound in Low-Cost Travel

    (Bloomberg) -- New money is flowing to low-cost airlines in the U.S. as they take on giant carriers racing to recover from the unprecedented collapse in travel during the pandemic. Two established carriers that had already been flying sold shares in the past month, while two new airlines managed to raise more than $100 million each in a little over one year to cover startup costs. All four share a common trait: low operating costs and a customer base seeking affordable flights after more than a year of hunkering down close to home.They’re striking as the domestic leisure business is rapidly returning, even though industry revenue from corporate and international travelers — the domain of bigger carriers — remains depressed.“Low-cost, leisure-focused, domestic-oriented air travel has been in vogue like it’s never been in vogue before,” said Barry Biffle, chief executive officer of Frontier Group Holdings Inc., which held an IPO in March after withdrawing a previous effort to sell stock seven months earlier.The airline industry has never been particularly kind financially, with more than 200 failures or bankruptcies since 1978. But consolidation among the largest players since the 2008 recession set the stage for a comeback. U.S. carriers had $103 billion in net profits from 2010 through 2019, before the pandemic drove $46 billion in losses.The environment now appears ripe for new entrants led by entrepreneurs focused on keeping costs far lower than the entrenched incumbents and stimulating traffic on mostly uncontested nonstop routes. It’s the same playbook that worked for the previous era of low-cost startups like Allegiant Travel Co. and Spirit Airlines Inc.Shares of Sun Country Airlines Holdings Inc., a Minnesota-based carrier that specializes in Sun Belt destinations, have surged 69% since their March 17 debut, while investors have been cooler on Frontier, which has gained only 3.6% since trading started. Avelo Airlines raised $125 million from family offices, private equity firms and individuals, and plans to begin flights from the Los Angeles area on April 28. David Neeleman’s Breeze Aviation Group Inc. raised more than $100 million, most of it last year.“Low-cost carriers are proven across the world to be better businesses,” said Avelo CEO Andrew Levy, who was also a co-founder of Allegiant Travel Co. Las Vegas-based Allegiant touted 17 years of profitability before the pandemic ended that streak.Lucrative corporate passengers are likely to avoid air travel for some time as the U.S. economic rebound from the pandemic damage remains a work in progress. Leisure travelers, however, are returning to the skies, with more than a million travelers passing through U.S. security checkpoints each day since March 11. Still, the 1.4 million people screened April 12 remained well below the 2.4 million at the same time in 2019. In response to growing demand, American Airlines Group Inc. is adding 150 routes, a mix of new flights and restored service to regional vacation destinations in and around the U.S.Airline shares have mounted a major comeback in the past year. After a Standards & Poor’s index of the five largest U.S. carriers tumbled by two-thirds from a January 2020 peak to a trough in May, the gauge has since surged some 160%, though it remains below its pre-pandemic level.That positive sentiment extends to low-cost players that don’t bank on corporate or international travel and whose balance sheets aren’t weighed down by debt. According to the lobbying group Airlines for America, U.S. carriers collectively added $58 billion in debt last year. New entrants can take advantage of hundreds of aircraft that were pulled from fleets and employees who left during a rush to slash spending after travel demand collapsed. More than 150,000 workers voluntarily left the four largest U.S. carriers or took temporary leave.“It’s a time of opportunity,” said Peter Morris, chief economist at Ascend, the consultancy arm of Cirium. “You can get a deal like you never would have in 2019. The window of opportunity is probably not open more than a couple of years.”Morris pointed to JetBlue Airways Corp., co-founded by Neeleman, which went public less than a year after the Sept. 11, 2001, terrorist attacks. Spirit’s initial public sale was in 2011, a year stung by higher fuel prices and slow economic growth. In Europe, discounters Ryanair Holdings Plc and EasyJet Plc rapidly expanded in the early 2000s while larger rivals like British Airways were cutting spending after the war in Iraq and the outbreak of SARS discouraged travel.Leisure carriers eschew direct competition with the behemoths wherever possible. They focus on smaller, secondary cities, avoid time-consuming stops at hub airports and fly less than daily to many destinations. Often known as ultra low-cost carriers, or ULCCs, many couple deeply discounted fares with fees for anything extra.“That’s what the ULCCs and investors are banking on — that spurred by these low fares and new, underserved routes you’ll see passenger growth at a multiple greater than GDP growth,” said Joe Mohan, an aviation consultant in Westlake, Texas, and former CEO of Grupo Viva, the parent of several Latin American discount airlines.Frontier’s Biffle also cites three rounds of government stimulus checks over the past 13 months, which helped boost the U.S. savings rate by $1.5 trillion, as a catalyst to spur a travel boom. Spending on durable goods soared in 2020 as Americans fixed up their homes, bought a car or replaced appliances, all while not traveling, United Airlines Chief Executive Officer Scott Kirby noted at a March 15 JPMorgan Chase & Co. investor conference. That leaves wanderlust next on many Americans’ wish list.Read more: World Economy’s $2.9 Trillion Cash Hoard Will Drive the Recovery“I think all that durable expense that would have been happening in 2022, 2023, 2024, you’ve already bought a new washing machine, you don’t have to buy another one,” Kirby said. “That money that got spent was pulled forward” and will prompt consumers to take more leisure trips over the next three years, he said.Investor funds aren’t flowing to airlines only in the U.S. In Europe, a startup called Norse Atlantic Airways is keen to reprise the trans-Atlantic Boeing 787 flying of the defunct Norwegian Air International. Another Norwegian domestic carrier, Flyr AS, raised 600 million kroner ($70.7 million) and plans to begin flying this summer. In the U.K., a budget startup named flypop plans to serve the South Asian diaspora by flying Airbus A330s from London to India, starting with Amritsar and Ahmedabad.Read more: Dirt-Cheap Flights on Sale as Covid-Hit Airlines Take on RivalsGlobally, ultra low-cost carriers command roughly 30% of total seats in mature aviation markets but only around 5% in the U.S., Mohan said. “ULCCs will capture their natural share, and whether that’s 30% or not it’s a lot closer to 30% than it is to 5%,” he said.Domestic leisure travel also holds the appeal of durability, said Lukas Johnson, Breeze’s chief commercial officer, offering a common travel scenario as an example: “I got a kid and my parent wants to see the kid and that demand does not go away.”(Updates with news of American Airlines adding 150 new routes)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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  • Airline Stocks May Be Hitting an Air Pocket

    The sector is selling off after American issued a first-quarter profit warning. Vaccine issues may only be adding to the pressure.

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  • Allegiant (ALGT) Posts Encouraging March Traffic Results

    With capacity expansion outweighing traffic increase, March load factor at Allegiant Travel (ALGT) declines 3.6 points for scheduled service.

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  • Allegiant Reports March 2021 Traffic

    Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for March 2021 as well as first quarter 2021.

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  • Allegiant (ALGT) to Open New Base in Austin This November

    Allegiant (ALGT) to invest $75 million to establish a new base at the South Terminal of Austin-Bergstrom International Airport, which is expected to create at least 89 high-wage jobs.

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  • Allegiant Announces Aircraft And Crew Base In Austin, Bringing New Jobs, Future Growth Opportunities

    Allegiant Travel Company (NASDAQ: ALGT) today announced plans to establish a base of operations at the South Terminal at Austin-Bergstrom International Airport (AUS). The Las Vegas-based company will invest $75 million to establish the new base in Austin, creating at least 89 high-wage jobs and housIng three Airbus A320 aircraft.

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