Allegiant Travel Company reported a total operating revenue of $2.51 billion for the fiscal year ending December 31, 2024, reflecting a marginal increase of 0.1% compared to the previous year. However, the company experienced a net loss of $240.2 million, a significant decline from a profit of $117.6 million in 2023. This downturn was attributed to a 4.6% decrease in passenger revenue, which fell to $2.22 billion, driven by a reduction in scheduled service passengers and a decline in base fares. Despite these challenges, Allegiant saw a notable increase in ancillary revenue, with the average ancillary fare per passenger rising to $75.83, up 4% year-over-year.
In terms of operational metrics, Allegiant served approximately 17 million passengers in 2024, a decrease from 17.34 million in 2023. The airline's available seat miles (ASMs) increased slightly to 18.98 billion, while the load factor decreased to 83.6%. The company also reported a 14.6% rise in salaries and benefits expenses, largely due to pilot retention bonuses and increased staffing costs, which contributed to a rise in total operating expenses to $2.75 billion, up 20.2% from the previous year.
Strategically, Allegiant launched its Sunseeker Resort in December 2023, which generated $71.8 million in revenue during its first year of operation. However, the resort incurred significant operating losses, prompting the company to explore strategic alternatives, including a potential sale or partnership. Additionally, Allegiant announced a partnership with VivaAerobus aimed at expanding its service offerings to Mexico, although the implementation of this alliance is contingent on regulatory approvals that are currently pending.
Looking ahead, Allegiant plans to expand its route network, having identified over 1,400 potential new routes, with 44 new routes announced for 2025. The company aims to restore aircraft utilization to pre-pandemic levels and expects to take delivery of 46 new Boeing 737 MAX aircraft between 2025 and 2027. Despite the challenges faced in 2024, Allegiant's management remains optimistic about future growth opportunities and the potential for improved financial performance as operational efficiencies are realized and new routes are launched.
About Allegiant Travel CO
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