Allegiant Travel Company
|
||||||
(Exact name of registrant as specified in its charter)
|
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Nevada
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001-33166
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20-4745737
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
|
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8360 S. Durango Drive, Las Vegas, NV
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89113
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(Address of principal executive offices)
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(Zip Code)
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Section 2
|
Financial Information
|
Item 2.02
|
Results of Operations and Financial Condition.
|
Item 5.02
|
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
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Item 5.03
|
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
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Section 9
|
Financial Statements and Exhibits
|
Item 9.01
|
Financial Statements and Exhibits.
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(a)
|
Not applicable.
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(b)
|
Not applicable.
|
(c)
|
Not applicable.
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(d)
|
Exhibits
|
Exhibit No.
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Description of Document
|
99.1
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Press Release issued by Allegiant Travel Company on January 30, 2013.
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Date: January 30, 2013
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ALLEGIANT TRAVEL COMPANY
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||
By:
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/s/ Scott Sheldon
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||
Name: Scott Sheldon
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|||
Title: Chief Financial Officer
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Exhibit No.
|
Description of Document
|
99.1
|
Press Release issued by Allegiant Travel Company on January 30, 2013.
|
Unaudited
|
4Q12 | 4Q11 |
Change
|
2012 | 2011 |
Change
|
||||||||||||||||||
Total operating revenue (millions)
|
$222.8 | $193.9 | 14.9 | % | $908.7 | $779.1 | 16.6 | % | ||||||||||||||||
Operating income (millions)
|
$25.4 | $20.2 | 25.8 | % | $132.3 | $85.4 | 54.8 | % | ||||||||||||||||
Operating margin
|
11.4 | % | 10.4 | % |
1.0pp
|
14.6 | % | 11.0 | % |
3.6pp
|
||||||||||||||
EBITDA (millions)
|
$42.2 | $31.3 | 34.7 | % | $190.1 | $127.4 | 49.2 | % | ||||||||||||||||
EBITDA margin
|
18.9 | % | 16.2 | % |
2.7pp
|
20.9 | % | 16.4 | % |
4.5pp
|
||||||||||||||
Net income (millions)
|
$14.8 | $10.8 | 36.6 | % | $78.6 | $49.4 | 59.1 | % | ||||||||||||||||
Diluted earnings per share
|
$0.76 | $0.56 | 35.7 | % | $4.06 | $2.57 | 58.0 | % | ||||||||||||||||
|
·
|
Signed purchase agreements to acquire nine Airbus A320 aircraft previously operated by Iberia
|
|
·
|
Successfully converted 100 percent of our customer web traffic to our new booking engine in November
|
|
·
|
Returned over $38 million to shareholders through a special dividend of $2 per share in December
|
|
·
|
Repurchased approximately 55,000 shares for $4 million during the fourth quarter
|
|
·
|
As of January 30, 2013, we have converted 47 of an expected 51 MD-80s to 166 seat aircraft
|
|
·
|
Began operating 21 new routes during the quarter
|
|
·
|
Announced eight new routes starting in the first quarter
|
|
·
|
Ranked 14th on the Forbes’ 100 Best Small Companies. We have been listed four years in a row
|
|
·
|
Fourth quarter 2012 total average fare was up 4.4 percent versus 2011 and was the highest in the company’s history
|
|
·
|
12th consecutive quarter of year over year increases in total average fare
|
|
·
|
Ancillary air-related revenue per passenger has grown sequentially every month since April 2012
|
4Q12 | 4Q11 |
Change
|
2012 | 2011 |
Change
|
|||||||||||||||||||
Scheduled Service:
|
||||||||||||||||||||||||
Average fare - scheduled service
|
$88.59 | $91.66 | (3.3 | )% | $88.90 | $89.15 | (0.3 | )% | ||||||||||||||||
Average fare - ancillary air-related charges
|
$39.89 | $31.51 | 26.6 | % | $35.72 | $31.17 | 14.6 | % | ||||||||||||||||
Average fare - ancillary third party products
|
$5.19 | $4.88 | 6.4 | % | $5.48 | $5.18 | 5.8 | % | ||||||||||||||||
Average fare - total
|
$133.67 | $128.05 | 4.4 | % | $130.10 | $125.51 | 3.7 | % | ||||||||||||||||
Scheduled service passenger revenue per ASM (PRASM) (cents)
|
7.99 | 8.91 | (10.3 | )% | 8.43 | 8.88 | (5.1 | )% | ||||||||||||||||
Total scheduled service revenue* per ASM (TRASM) (cents)
|
12.06 | 12.45 | (3.1 | )% | 12.33 | 12.50 | (1.4 | )% | ||||||||||||||||
Load factor
|
86.5 | % | 89.6 | % |
(3.1)pp
|
89.4 | % | 91.7 | % |
(2.3)pp
|
||||||||||||||
Passengers (millions)
|
1.6 | 1.4 | 13.3 | % | 6.6 | 5.8 | 14.1 | % | ||||||||||||||||
Average passengers per departure
|
141 | 134 | 5.2 | % | 140 | 136 | 2.9 | % | ||||||||||||||||
Average scheduled service stage length (miles)
|
930 | 904 | 2.9 | % | 918 | 901 | 1.9 | % | ||||||||||||||||
|
·
|
Full year 2012 cost per ASM excluding fuel decreased 6.7 percent to 5.3 cents in spite of a five percent decrease in aircraft utilization for the same time period
|
|
·
|
Full year 2012 ASMs per gallon increased 6.6 percent to 63.0 versus last year, and improved sequentially 3.6 percent in the fourth quarter 2012 versus the third quarter 2012
|
|
·
|
Full year 2012 salaries and benefits expense per passenger decreased 1.7 percent despite a 14.2 percent increase in full time equivalent employees
|
|
·
|
Full year 2012 maintenance and repairs expense per passenger decreased 19.6 percent due primarily to a 60 percent decline in engine overhaul expenses. Maintenance expense per aircraft per month was $102,277 in 2012 versus $129,558 in 2011
|
|
·
|
Full year 2012 sales and marketing expense per passenger decreased 14.6 percent versus last year, primarily due to the implementation of a discount for customers paying with less expensive forms of payment beginning in the third quarter 2012
|
4Q12 | 4Q11 |
Change
|
2012 | 2011 |
Change
|
|||||||||||||||||||
Total System*:
|
||||||||||||||||||||||||
Operating expense per passenger
|
$118.49 | $116.08 | 2.1 | % | $111.12 | $112.32 | (1.1 | )% | ||||||||||||||||
Operating expense per passenger, excluding fuel
|
$63.50 | $62.04 | 2.4 | % | $56.99 | $58.78 | (3.0 | )% | ||||||||||||||||
Operating expense per ASM (CASM) (cents)
|
10.50 | 11.03 | (4.8 | )% | 10.37 | 10.90 | (4.9 | )% | ||||||||||||||||
Operating expense, excluding fuel per ASM (CASM ex fuel) (cents)
|
5.63 | 5.89 | (4.4 | )% | 5.32 | 5.70 | (6.7 | )% | ||||||||||||||||
Average block hours per aircraft per day
|
5.3 | 5.6 | (5.4 | )% | 5.7 | 6.0 | (5.0 | )% | ||||||||||||||||
|
·
|
For the fourth quarter 2012, ancillary revenue – third party products per passenger increased 6.4 percent versus last year. This has been our eleventh consecutive quarter of year over year increases.
|
|
·
|
For the full year 2012, net revenue from hotels increased about five percent while net revenue from rental cars increased about 33 percent versus 2011
|
Supplemental Ancillary Revenue Information
Unaudited (millions)
|
4Q12 | 4Q11 |
Change
|
2012 | 2011 |
Change
|
||||||||||||||||||
Gross ancillary revenue - third party products
|
$24.9 | $23.0 | 8.6 | % | $119.0 | $106.4 | 11.9 | % | ||||||||||||||||
Cost of goods sold
|
($16.2 | ) | ($15.2 | ) | 6.1 | % | ($79.0 | ) | ($72.0 | ) | 9.7 | % | ||||||||||||
Transaction costs*
|
($.6 | ) | ($.9 | ) | (35.9 | )% | ($3.9 | ) | ($4.5 | ) | (12.1 | )% | ||||||||||||
Ancillary revenue - third party products
|
$8.2 | $6.8 | 20.5 | % | $36.1 | $29.9 | 20.8 | % | ||||||||||||||||
As percent of gross
|
32.8 | % | 29.6 | % |
3.2pp
|
30.3 | % | 28.1 | % |
2.2pp
|
||||||||||||||
As percent of income before taxes
|
34.9 | % | 36.9 | % |
(2.0)pp
|
29.0 | % | 37.6 | % |
(8.6)pp
|
||||||||||||||
Ancillary revenue - third party products/scheduled passenger
|
$5.19 | $4.88 | 6.4 | % | $5.48 | $5.18 | 5.8 | % | ||||||||||||||||
Hotel room nights (thousands)
|
137.5 | 142.6 | (3.5 | )% | 690.1 | 647.7 | 6.5 | % | ||||||||||||||||
Rental car days (thousands)
|
169.1 | 113.8 | 48.6 | % | 763.4 | 577.7 | 32.1 | % | ||||||||||||||||
|
·
|
We currently have $41 million in share repurchase authority
|
Unaudited (millions)
|
12/31/12
|
12/31/11
|
Change
|
|||||||||
Unrestricted cash*
|
$352.7 | $319.5 | 10.4 | % | ||||||||
Total debt
|
$150.9 | $146.1 | 3.3 | % | ||||||||
Total Allegiant Travel Company stockholders’ equity
|
$400.5 | $351.5 | 14.0 | % | ||||||||
Year ended December 31,
|
||||||||||||
Unaudited (millions)
|
2012 | 2011 |
Change
|
|||||||||
Capital expenditures
|
$105.1 | $86.6 | 21.4 | % |
Guidance, subject to revision
|
||||||||
Revenue guidance
|
January 2013
|
1Q13 | ||||||
Estimated PRASM year-over-year change
|
(13) to (11)%
|
(8) to (6)%
|
||||||
Fixed fee and other revenue guidance
|
1Q13 | |||||||
Fixed fee and other revenue (millions)
|
$4 to $6 | |||||||
Capacity guidance
|
||||||||
System
|
1Q13 | 2Q13 | ||||||
Departure year-over-year growth
|
(8) to (4)%
|
(7) to (3)%
|
||||||
ASM year-over-year growth
|
+12 to 16%
|
+14 to 18%
|
||||||
Scheduled
|
||||||||
Departure year-over-year growth
|
(2) to 2%
|
0 to 4%
|
||||||
ASM year-over-year growth
|
+15 to 19%
|
+19 to 23%
|
||||||
Cost guidance
|
1Q13 | |||||||
CASM ex fuel – year-over-year change
|
+1 to 3%
|
|||||||
CAPEX guidance
|
FY13
|
|||||||
Capital expenditures (millions)
|
$150 to $160 | |||||||
2013 aircraft fleet plan by end of quarter
|
||||||||||||||||
Aircraft
|
1Q13 | 2Q13 | 3Q13 | 4Q13 | ||||||||||||
MD-80 (166*)
|
51 | 51 | 51 | 51 | ||||||||||||
MD-80 (non 166*)
|
6 | 5 | 1 | 1 | ||||||||||||
757
|
6 | 6 | 6 | 6 | ||||||||||||
A319
|
0 | 2 | 2 | 2 | ||||||||||||
A320
|
0 | 0 | 2 | 7 | ||||||||||||
Total
|
63 | 64 | 62 | 67 |
Three months ended Dec. 31,
|
Percent
|
|||||||||||
2012
|
2011
|
change
|
||||||||||
OPERATING REVENUE:
|
||||||||||||
Scheduled service revenue
|
$139,668 | $127,597 | 9.5 | |||||||||
Ancillary revenue:
|
||||||||||||
Air-related charges
|
62,899 | 43,866 | 43.4 | |||||||||
Third party products
|
8,184 | 6,794 | 20.5 | |||||||||
Total ancillary revenue
|
71,083 | 50,660 | 40.3 | |||||||||
Fixed fee contract revenue
|
11,375 | 12,522 | (9.2 | ) | ||||||||
Other revenue
|
712 | 3,158 | (77.5 | ) | ||||||||
Total operating revenue
|
222,838 | 193,937 | 14.9 | |||||||||
OPERATING EXPENSES:
|
||||||||||||
Aircraft fuel
|
91,638 | 80,898 | 13.3 | |||||||||
Salary and benefits
|
33,933 | 29,590 | 14.7 | |||||||||
Station operations
|
20,655 | 16,529 | 25.0 | |||||||||
Maintenance and repairs
|
19,029 | 23,806 | (20.1 | ) | ||||||||
Sales and marketing
|
4,081 | 4,329 | (5.7 | ) | ||||||||
Aircraft lease rentals
|
- | 153 | (100.0 | ) | ||||||||
Depreciation and amortization
|
16,667 | 11,253 | 48.1 | |||||||||
Other
|
11,458 | 7,205 | 59.0 | |||||||||
Total operating expenses
|
197,461 | 173,763 | 13.6 | |||||||||
OPERATING INCOME
|
25,377 | 20,174 | 25.8 | |||||||||
As a percent of total operating revenue
|
11.4 | % | 10.4 | % | ||||||||
OTHER (INCOME) EXPENSE:
|
||||||||||||
(Earnings) loss from unconsolidated affiliates, net
|
(43 | ) | 83 | (151.8 | ) | |||||||
Interest income
|
(242 | ) | (236 | ) | 2.5 | |||||||
Interest expense
|
2,210 | 1,889 | 17.0 | |||||||||
Total other (income) expense
|
1,925 | 1,736 | 10.8 | |||||||||
INCOME BEFORE INCOME TAXES
|
23,452 | 18,438 | 27.2 | |||||||||
As a percent of total operating revenue
|
10.5 | % | 9.5 | % | ||||||||
PROVISION FOR INCOME TAXES
|
8,810 | 7,628 | 15.5 | |||||||||
NET INCOME
|
$14,642 | $10,810 | 35.4 | |||||||||
Net loss attributable to noncontrolling interest
|
(124 | ) | - | (100 | ) | |||||||
NET INCOME ATTRIBUTABLE TO ALLEGIANT TRAVEL COMPANY
|
$14,766 | $10,810 | 36.6 | |||||||||
Earnings per share to common stockholders (1):
|
||||||||||||
Basic
|
$0.78 | $0.57 | 38.6 | |||||||||
Diluted
|
$0.76 | $0.56 | 35.7 | |||||||||
Weighted average shares outstanding used in computing earnings per share to common stockholders (1):
|
||||||||||||
Basic
|
19,154 | 18,959 | 1.0 | |||||||||
Diluted
|
19,371 | 19,207 | 0.9 |
Three months ended Dec. 31,
|
Percent
|
|||||||||||
2012
|
2011
|
change*
|
||||||||||
OPERATING STATISTICS
|
||||||||||||
Total system statistics
|
||||||||||||
Passengers
|
1,666,501 | 1,496,923 | 11.3 | |||||||||
Revenue passenger miles (RPMs) (thousands)
|
1,578,841 | 1,363,855 | 15.8 | |||||||||
Available seat miles (ASMs) (thousands)
|
1,879,791 | 1,575,899 | 19.3 | |||||||||
Load factor
|
84.0 | % | 86.5 | % | (2.5 | ) | ||||||
Operating revenue per ASM (RASM) (cents)
|
11.85 | 12.31 | (3.7 | ) | ||||||||
Operating expense per ASM (CASM) (cents)
|
10.50 | 11.03 | (4.8 | ) | ||||||||
Fuel expense per ASM (cents)
|
4.87 | 5.13 | (5.1 | ) | ||||||||
Operating CASM, excluding fuel (cents)
|
5.63 | 5.89 | (4.4 | ) | ||||||||
Operating expense per passenger
|
$118.49 | $116.08 | 2.1 | |||||||||
Fuel expense per passenger
|
$54.99 | $54.04 | 1.8 | |||||||||
Operating expense per passenger, excluding fuel
|
$63.50 | $62.04 | 2.4 | |||||||||
ASMs per gallon of fuel
|
65.6 | 60.1 | 9.2 | |||||||||
Departures
|
12,802 | 12,166 | 5.2 | |||||||||
Block hours
|
30,223 | 27,998 | 7.9 | |||||||||
Average stage length (miles)
|
882 | 853 | 3.4 | |||||||||
Average number of operating aircraft during period
|
62.1 | 54.6 | 13.7 | |||||||||
Average block hours per aircraft per day
|
5.3 | 5.6 | (5.4 | ) | ||||||||
Full-time equivalent employees at period end
|
1,821 | 1,595 | 14.2 | |||||||||
Fuel gallons consumed (thousands)
|
28,668 | 26,230 | 9.3 | |||||||||
Average fuel cost per gallon
|
$3.20 | $3.08 | 3.9 | |||||||||
Scheduled service statistics
|
||||||||||||
Passengers
|
1,576,641 | 1,392,092 | 13.3 | |||||||||
Revenue passenger miles (RPMs) (thousands)
|
1,512,063 | 1,283,218 | 17.8 | |||||||||
Available seat miles (ASMs) (thousands)
|
1,747,920 | 1,431,430 | 22.1 | |||||||||
Load factor
|
86.5 | % | 89.6 | % | (3.1 | ) | ||||||
Departures
|
11,192 | 10,360 | 8.0 | |||||||||
Average passengers per departure
|
141 | 134 | 5.2 | |||||||||
Scheduled service seats per departure
|
165.4 | 152.2 | 8.7 | |||||||||
Block hours
|
27,527 | 24,961 | 10.3 | |||||||||
Yield (cents)
|
9.24 | 9.94 | (7.0 | ) | ||||||||
Scheduled service revenue per ASM (PRASM) (cents)
|
7.99 | 8.91 | (10.3 | ) | ||||||||
Total ancillary revenue per ASM (cents)
|
4.07 | 3.54 | 15.0 | |||||||||
Total scheduled service revenue per ASM (TRASM) (cents)
|
12.06 | 12.45 | (3.1 | ) | ||||||||
Average fare - scheduled service
|
$88.59 | $91.66 | (3.3 | ) | ||||||||
Average fare - ancillary air-related charges
|
$39.89 | $31.51 | 26.6 | |||||||||
Average fare - ancillary third party products
|
$5.19 | $4.88 | 6.4 | |||||||||
Average fare - total
|
$133.67 | $128.05 | 4.4 | |||||||||
Average stage length (miles)
|
930 | 904 | 2.9 | |||||||||
Fuel gallons consumed (thousands)
|
26,368 | 23,517 | 12.1 | |||||||||
Average fuel cost per gallon
|
$3.37 | $3.29 | 2.4 | |||||||||
Percent of sales through website during period
|
91.7 | % | 89.1 | % | 2.6 |
Years ended Dec. 31,
|
Percent
|
|||||||||||
2012
|
2011
|
change
|
||||||||||
OPERATING REVENUE:
|
||||||||||||
Scheduled service revenue
|
$586,036 | $514,984 | 13.8 | |||||||||
Ancillary revenue:
|
||||||||||||
Air-related charges
|
235,436 | 180,078 | 30.7 | |||||||||
Third party products
|
36,124 | 29,916 | 20.8 | |||||||||
Total ancillary revenue
|
271,560 | 209,994 | 29.3 | |||||||||
Fixed fee contract revenue
|
42,905 | 43,690 | (1.8 | ) | ||||||||
Other revenue
|
8,218 | 10,449 | (21.4 | ) | ||||||||
Total operating revenue
|
908,719 | 779,117 | 16.6 | |||||||||
OPERATING EXPENSES:
|
||||||||||||
Aircraft fuel
|
378,195 | 330,657 | 14.4 | |||||||||
Salary and benefits
|
133,295 | 119,856 | 11.2 | |||||||||
Station operations
|
78,357 | 66,709 | 17.5 | |||||||||
Maintenance and repairs
|
73,897 | 81,228 | (9.0 | ) | ||||||||
Sales and marketing
|
19,222 | 19,905 | (3.4 | ) | ||||||||
Aircraft lease rentals
|
- | 1,101 | (100.0 | ) | ||||||||
Depreciation and amortization
|
57,503 | 41,975 | 37.0 | |||||||||
Other
|
35,946 | 32,242 | 11.5 | |||||||||
Total operating expenses
|
776,415 | 693,673 | 11.9 | |||||||||
OPERATING INCOME
|
132,304 | 85,444 | 54.8 | |||||||||
As a percent of total operating revenue
|
14.6 | % | 11.0 | % | ||||||||
OTHER (INCOME) EXPENSE:
|
||||||||||||
(Earnings) loss from unconsolidated affiliates, net
|
(99 | ) | (9 | ) |
NM
|
|||||||
Interest income
|
(983 | ) | (1,236 | ) | (20.5 | ) | ||||||
Interest expense
|
8,739 | 7,175 | 21.8 | |||||||||
Total other (income) expense
|
7,657 | 5,930 | 29.1 | |||||||||
INCOME BEFORE INCOME TAXES
|
124,647 | 79,514 | 56.8 | |||||||||
As a percent of total operating revenue
|
13.7 | % | 10.2 | % | ||||||||
PROVISION FOR INCOME TAXES
|
46,233 | 30,116 | 53.5 | |||||||||
NET INCOME
|
$78,414 | 49,398 | 58.7 | |||||||||
Net loss attributable to noncontrolling interest
|
(183 | ) | - |
NM
|
||||||||
NET INCOME ATTRIBUTABLE TO ALLEGIANT TRAVEL COMPANY
|
78,597 | $49,398 | 59.1 | |||||||||
Earnings per share to common stockholders (1):
|
||||||||||||
Basic
|
$4.10 | $2.59 | 58.3 | |||||||||
Diluted
|
$4.06 | $2.57 | 58.0 | |||||||||
Weighted average shares outstanding used in computing earnings per share to common stockholders (1):
|
||||||||||||
Basic
|
19,079 | 18,935 | 0.8 | |||||||||
Diluted
|
19,276 | 19,125 | 0.8 |
Years ended Dec. 31,
|
Percent
|
|||||||||||
2012
|
2011
|
change*
|
||||||||||
OPERATING STATISTICS
|
||||||||||||
Total system statistics
|
||||||||||||
Passengers
|
6,987,324 | 6,175,808 | 13.1 | |||||||||
Revenue passenger miles (RPMs) (thousands)
|
6,514,056 | 5,640,577 | 15.5 | |||||||||
Available seat miles (ASMs) (thousands)
|
7,487,276 | 6,364,243 | 17.6 | |||||||||
Load factor
|
87.0 | % | 88.6 | % | (1.6 | ) | ||||||
Operating revenue per ASM (RASM) (cents)
|
12.14 | 12.24 | (0.8 | ) | ||||||||
Operating expense per ASM (CASM) (cents)
|
10.37 | 10.90 | (4.9 | ) | ||||||||
Fuel expense per ASM (cents)
|
5.05 | 5.20 | (2.9 | ) | ||||||||
Operating CASM, excluding fuel (cents)
|
5.32 | 5.70 | (6.7 | ) | ||||||||
Operating expense per passenger
|
$111.12 | $112.32 | (1.1 | ) | ||||||||
Fuel expense per passenger
|
$54.13 | $53.54 | 1.1 | |||||||||
Operating expense per passenger, excluding fuel
|
$56.99 | $58.78 | (3.0 | ) | ||||||||
ASMs per gallon of fuel
|
63.0 | 59.1 | 6.6 | |||||||||
Departures
|
53,615 | 49,360 | 8.6 | |||||||||
Block hours
|
124,610 | 113,691 | 9.6 | |||||||||
Average stage length (miles)
|
872 | 858 | 1.6 | |||||||||
Average number of operating aircraft during period
|
60.2 | 52.2 | 15.3 | |||||||||
Average block hours per aircraft per day
|
5.7 | 6.0 | (5.0 | ) | ||||||||
Fuel gallons consumed (thousands)
|
118,839 | 107,616 | 10.4 | |||||||||
Average fuel cost per gallon
|
$3.18 | $3.07 | 3.6 | |||||||||
Scheduled service statistics
|
||||||||||||
Passengers
|
6,591,707 | 5,776,462 | 14.1 | |||||||||
Revenue passenger miles (RPMs) (thousands)
|
6,220,320 | 5,314,976 | 17.0 | |||||||||
Available seat miles (ASMs) (thousands)
|
6,954,408 | 5,797,753 | 20.0 | |||||||||
Load factor
|
89.4 | % | 91.7 | % | (2.3 | ) | ||||||
Departures
|
46,995 | 42,586 | 10.4 | |||||||||
Average passengers per departure
|
140 | 136 | 2.9 | |||||||||
Scheduled service seats per departure
|
159.7 | 150.8 | 5.9 | |||||||||
Block hours
|
113,671 | 101,980 | 11.5 | |||||||||
Yield (cents)
|
9.42 | 9.69 | (2.8 | ) | ||||||||
Scheduled service revenue per ASM (PRASM) (cents)
|
8.43 | 8.88 | (5.1 | ) | ||||||||
Total ancillary revenue per ASM (cents)
|
3.90 | 3.62 | 7.7 | |||||||||
Total scheduled service revenue per ASM (TRASM) (cents)
|
12.33 | 12.50 | (1.4 | ) | ||||||||
Average fare - scheduled service
|
$88.90 | $89.15 | (0.3 | ) | ||||||||
Average fare - ancillary air-related charges
|
$35.72 | $31.18 | 14.6 | |||||||||
Average fare - ancillary third party products
|
$5.48 | $5.18 | 5.8 | |||||||||
Average fare - total
|
$130.10 | $125.51 | 3.7 | |||||||||
Average stage length (miles)
|
918 | 901 | 1.9 | |||||||||
Fuel gallons consumed (thousands)
|
109,257 | 96,999 | 12.6 | |||||||||
Average fuel cost per gallon
|
$3.37 | $3.30 | 2.1 | |||||||||
Percent of sales through website during period
|
90.1 | % | 88.8 | % | 1.3 |
Three months ended Dec. 31,
|
Percent
|
|||||||||||
(in thousands)
|
2012
|
2011
|
change
|
|||||||||
Net income attributable to Allegiant Travel Company
|
$14,766 | $10,810 | 36.6 | |||||||||
Plus (minus)
|
||||||||||||
Interest income
|
(242 | ) | (236 | ) | 2.5 | |||||||
Interest expense
|
2,210 | 1,889 | 17.0 | |||||||||
Provision for income taxes
|
8,810 | 7,628 | 15.5 | |||||||||
Depreciation and amortization
|
16,667 | 11,253 | 48.1 | |||||||||
EBITDA
|
$42,211 | $31,344 | 34.7 | |||||||||
Total revenue
|
$222,838 | $193,937 | 14.9 | |||||||||
EBITDA margin
|
18.9 | % | 16.2 | % |
Years ended Dec. 31,
|
Percent
|
|||||||||||
(in thousands)
|
2012
|
2011
|
change
|
|||||||||
Net income attributable to Allegiant Travel Company
|
$78,597 | $49,398 | 59.1 | |||||||||
Plus (minus)
|
||||||||||||
Interest income
|
(983 | ) | (1,236 | ) | (20.5 | ) | ||||||
Interest expense
|
8,739 | 7,175 | 21.8 | |||||||||
Provision for income taxes
|
46,233 | 30,116 | 53.5 | |||||||||
Depreciation and amortization
|
57,503 | 41,975 | 37.0 | |||||||||
EBITDA
|
$190,089 | $127,428 | 49.2 | |||||||||
Total revenue
|
$908,719 | $779,117 | 16.6 | |||||||||
EBITDA margin
|
20.9 | % | 16.4 | % |
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