Allegiant Reports March 2017 Traffic

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Apr 10, 2017, 18:25 ET

LAS VEGAS, April 10, 2017 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for March 2017 and first quarter 2017.

"March unit revenue came in lighter than expected," stated Lukas Johnson, SVP, commercial. "The uniqueness of Easter shifting further into April led to monthly and quarterly TRASM underperformance of our guided range. Second quarter bookings continue to look strong and neutralizing for the Easter shift, the combination of March and April is expected to produce positive unit revenue growth versus the same period last year. In addition, we still expect second quarter TRASM to be positive and will provide greater detail on our earnings call on April 25. We are also guiding third quarter ASMs to grow between three and seven percent. This has always been the 2017 plan as we ramp up the level of MD-80 spares for the summer. We are still on schedule to grow full year 2017 ASMs between eight and twelve percent."

	TRASM impact
Initial Q1 2017 TRASM guidance	(3.5) to (1.5)%
Impact on March of Easter in April versus previous expectations	(1.0)%
Impact of weather and operations	(0.5)%
Assumed continued strength in demand from Q1	(0.5)%
Revised Q1 2017 TRASM guidance	(4.8) to (4.4)%

Scheduled Service

	March 2017	March 2016	Change
Passengers	1,143,571	1,043,333	9.6%
Revenue passenger miles (000)	1,072,847	1,010,390	6.2%
Available seat miles (000)	1,269,107	1,142,024	11.1%
Load factor	84.5%	88.5%	(4.0) pts
Departures	8,269	7,136	15.9%
Average stage length (miles)	916	947	(3.3%)

	1st quarter 2017	1st quarter 2016	Change
Passengers	2,845,480	2,567,309	10.8%
Revenue passenger miles (000)	2,661,934	2,483,553	7.2%
Available seat miles (000)	3,237,164	2,897,951	11.7%
Load factor	82.2%	85.7%	(3.5) pts
Departures	21,248	18,175	16.9%
Average stage length (miles)	908	940	(3.4%)

Total System*

	March 2017	March 2016	Change
Passengers	1,154,591	1,052,645	9.7%
Revenue passenger miles (000)	1,087,972	1,023,248	6.3%
Available seat miles (000)	1,315,169	1,183,356	11.1%
Load factor	82.7%	86.5%	(3.8) pts
Departures	8,637	7,445	16.0%
Average stage length (miles)	910	940	(3.2%)

	1st quarter 2017	1st quarter 2016	Change
Passengers	2,881,248	2,592,907	11.1%
Revenue passenger miles (000)	2,708,498	2,520,149	7.5%
Available seat miles (000)	3,376,837	3,001,384	12.5%
Load factor	80.2%	84.0%	(3.8) pts
Departures	22,295	18,918	17.9%
Average stage length (miles)	903	935	(3.4%)

Preliminary Financial Results

	Change
February 2017 actual year-over-year
Scheduled total revenue per scheduled ASM (TRASM) change	(2.8%)


March 2017 estimated year-over-year TRASM change	(4.4%) to (4.0%)

1st quarter 2017 estimated year-over-year TRASM change	(4.8%) to (4.4%)

	$ per gallon
March 2017 estimated average fuel cost per gallon – system	$1.78

	$ per gallon
1st quarter 2017 estimated average fuel cost per gallon – system	$1.81

Guidance

Capacity guidance, subject to revision	Year over Year Growth
	Departures	ASMs
April 2017
Scheduled	+21%	+18%

2^nd Quarter 2017
System	+14 to 18%	+11 to 15%
Scheduled	+14 to 18%	+11 to 15%

3^rd Quarter 2017
System	+4 to 8%	+3 to 7%
Scheduled	+4 to 8%	+3 to 7%

ASMs – Available seat miles

Cost and revenue guidance, subject to revision

Cost guidance
	1st quarter 2017
Cost per available seat mile excluding fuel (CASM-ex fuel) – year over year change	11.6 to 12.0%

Fixed fee and other revenue guidance
	1st quarter 2017
Fixed fee revenue and other revenue (millions)	$18.4 to $19.4

About Allegiant

Las Vegas-based Allegiant (NASDAQ: ALGT) is focused on linking travelers in small cities to world-class leisure destinations. The airline offers industry-low fares on an all-jet fleet while also offering other travel-related products such as hotel rooms, rental cars and attraction tickets. All can be purchased only through the company website, Allegiant.com. Beginning with one aircraft and one route in 1999, the company has grown to over 80 aircraft and more than 300 routes across the country with base airfares less than half the cost of the average domestic roundtrip ticket. For downloadable press kit, including photos, visit: 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.

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.

SOURCE Allegiant Travel Company