Allegiant ‘bullish’ about summer travel, after turning small profit

Allegiant Travel Company, the parent of ultra-low-cost carrier Allegiant Air, turned a slim profit in the first three months of the year as the company prepares for a busy summer with a “bullish” outlook. “Based on the data we are seeing, I can say, we are back,” the company’s chief executive Maury Gallagher tells analysts on the company’s quarterly earnings results call on 4 May. The Las Vegas-based carrier reports it earned $6.9m in Q1 2020, compared to a $33m loss for the same quarter in 2020, just as the coronavirus pandemic was beginning to make itself felt around the world. In Q4 2020, the company had reported a loss of $29m. Revenue for the first three months of 2021 was $279m, down 32% from the same quarter in 2020. But signs of improvement and a sustainable recovery are mounting, executives say. Potential passengers are booking tickets in numbers that align with 2019 trends, and they are also planning further ahead with their air travel. “The momentum reported last quarter picked up in earnest towards the back half of the first quarter with booking trends showing meaningful improvement,” says Gallagher. “I could not be more bullish on our outlook. Going forward our full-year, 2021 capacity should exceed 2019 capacity levels.”<br/>