Allegiant Travel Company

Last updated
Allegiant Travel Company
Company type Public
Nasdaq:  ALGT
S&P 600 component
Industry Tourism
Founded1999;25 years ago (1999)
Headquarters
Summerlin, Nevada
,
United States
Key people
RevenueSteady2.svg US$611,002,000 (2023)
Decrease2.svgUS$10,612,000 (2023)
Decrease2.svgUS$(1,956,000) (2023)
Number of employees
Increase2.svg 5,643 (2023)
Subsidiaries
Website allegiantair.com
Footnotes /references
[1]

The Allegiant Travel Company is an American airline holding and hospitality company headquartered in the Las Vegas suburb of Summerlin, Nevada. The company owns the airline Allegiant Air and Sunseeker Resorts.

Contents

History

The Allegiant Travel Company was founded in 1999 [2] as the parent company of Allegiant Air, [3] which itself had been founded in 1997. [4] Initially based out of Fresno, California, the company reorganized in 2000 with Maurice J. Gallagher Jr. gaining an almost 20 percent stake in the company. He had previously been a prominent creditor of Allegiant and was one of the co-founders of ValuJet Airlines. [5]

In May 2006, Allegiant Travel Company filed plans for an initial public offering (IPO). [6] It officially began trading on the Nasdaq exchange under the stock ticker symbol, ALGT, in December of that year. [7]

By 2019, Allegiant Travel's primary subsidiary, Allegiant Air, had switched from a fleet predominately composed of MD-80s to one exclusively composed of Airbus jets. [8]

The key trends for the Allegiant Travel Company (including its consolidated subsidiaries) are (financial years ending December 31):

2014201520162017201820192020202120222023
Turnover (US$m)1,1371,2621,3791,5111,6671,8419901,7072,3012,509
Net profit after tax ($m)87220220198161232−1841522.49−2
Number of employees (FTE)2,4112,8463,4163,7523,9014,3633,8634,4585,3065,643
Number of passengers (m)8.29.511.112.313.815.08.613.616.817.3
Passenger load factor (scheduled services)(%)87.585.085.083.784.783.959.570.385.085.9
Number of aircraft8489769195108121126
Notes/sources [9] [9] [9] [9] [9] [10] [lower-alpha 1] [10] [11] [12] [13]
  1. ↑ 2020: Activities and income in fiscal 2020 were severely reduced by the impact of the coronavirus pandemic


Subsidiaries

Allegiant Air

Allegiant Air was founded in 1997 [4] and is the ninth-largest commercial airline in the United States as of January 2020. [14] Part of Allegiant Air's business model includes earning commissions by selling passengers ancillary items like rental cars, hotel rooms, tickets to events, amusement park passes, and other add-ons. [5] The airline has a fleet composed of 85 Airbus jets [15] that serves more than 500 routes across the country. [14]

Sunseeker Resorts

Plans for the inaugural Sunseeker Resort in Charlotte County, Florida (known as Sunseeker Resort Charlotte Harbor) were announced in August 2017. [16] Construction on the project was initially halted due to the COVID-19 pandemic, but resumed in 2021 with plans for the 500 room, 180 extended-stay suite resort. [17] The resort opened on December 15, 2023. [18]

Other

The Allegiant Travel Company also counts the golf course management software firm, Teesnap, as one of its subsidiaries. The company was founded in 2013 and has been owned by Allegiant since its outset. [19] The firm's software was being used by 590 golf courses as of November 2023, but was also looking for a buyer for the subsidiary as of the same date. [20] Another Allegiant subsidiary, Game Plane, created an eponymous game show that was filmed on Allegiant Air flights, which ran during 2014 and 2015 on the Discovery Family Channel. [19] [21] Allegiant Travel also operated an information technology company called Allegiant Systems that had the goal of selling software systems to other airlines. [22]

Allegiant Travel formerly operated family entertainment centers in Utah and Michigan. [19] [23] Known as Allegiant Nonstop, the company closed the centers in 2020. [24]

Sponsorships

The Allegiant Travel Company is the official sponsor of several sports teams and venues.

Allegiant Stadium

Allegiant Stadium under construction, June 2020. Allegiantstadiumjune2020.jpg
Allegiant Stadium under construction, June 2020.

In August 2019, Allegiant was awarded the naming rights for the home of the Las Vegas Raiders and the UNLV Rebels football team, Allegiant Stadium. [25] It is also the official airline of the Raiders. [26]

Other sport sponsorships

In July 2018, Allegiant was named the official airline of Minor League Baseball (MiLB). [27] In December of that year, it announced a credit card partnership with the MiLB that would allow Allegiant credit card holders to earn points in relation to their local baseball teams and communities. [28]

Allegiant is also the official domestic airline partner of the Vegas Golden Knights. [27] In September 2019, the company unveiled a Golden Knights-themed plane that featured a livery with the team's logo. [29] In January 2020, Allegiant signed a deal to become the official airline of the Indianapolis Colts, [30] and the following year became the official airline of the Pac-12 Conference. [31]

See also

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References

  1. ↑ "FOURTH QUARTER AND FULL-YEAR 2023 FINANCIAL RESULTS". www.sec.gov. February 5, 2023. Retrieved February 7, 2023.
  2. ↑ "Allegiant Travel : Announces Five New Routes With One-Way Fares As Low As $55". Market Screener. November 12, 2019. Retrieved 29 March 2020.
  3. ↑ Velotta, Richard N. (15 May 2009). "Las Vegas-based Allegiant sets sights on – no kidding – Cuba". Las Vegas Sun. Retrieved 29 March 2020.
  4. 1 2 Bailey, Jeff (September 21, 2006). "Flying Where Big Airlines Aren't". The New York Times. Retrieved 26 March 2020.
  5. 1 2 "Tiny Allegiant Air thrives by catering to small-town America". The Salt Lake Tribune. 28 June 2013. Retrieved 29 March 2020.
  6. ↑ Compart, Andrew (19 May 2006). "Allegiant Air's parent files plan for IPO". Travel Weekly. Retrieved 16 June 2020.
  7. ↑ Kim, Yung (January 20, 2007). "Allegiant Travel shares climb in debut". Reuters. Retrieved 16 June 2020.
  8. ↑ Segall, Eli (October 24, 2019). "Allegiant nearly triples profits in third quarter". Las Vegas Review Journal. Retrieved 16 June 2020.
  9. 1 2 3 4 5 "Annual Report 2018 Allegiant Travel Company". February 28, 2019. Retrieved November 1, 2019.
  10. 1 2 "Annual Report 2020 Allegiant Travel Company". March 1, 2021. Retrieved December 15, 2021.
  11. ↑ "Allegiant Annual Report 2021". Allegiant. Retrieved October 7, 2023.
  12. ↑ "Allegiant Annual Report 2022". Allegiant. Retrieved October 7, 2023.
  13. ↑ "FOURTH QUARTER AND FULL-YEAR 2023 FINANCIAL RESULTS". www.sec.gov. February 5, 2023. Retrieved February 7, 2023.
  14. 1 2 Bush, John (January 14, 2020). "Airline to offer new flight from Dayton to Florida". Dayton Business Journal. Retrieved 26 March 2020.
  15. ↑ Shabat, Jay (December 4, 2019). "The Reinvention of Allegiant Air". Skift. Retrieved 21 April 2020.
  16. ↑ Dean, Vicki (March 20, 2019). "Charlotte County welcomes Allegiant Sunseeker Resort". Herald Tribune. Retrieved 26 March 2020.
  17. ↑ Segall, Eli (2 August 2021). "Allegiant resuming construction of stalled Florida resort project". Las Vegas Review Journal. Retrieved 20 December 2021.
  18. ↑ Zarcone, Haley (2023-12-14). "Sunseeker Resort set to open after fighting through set backs". WINK News. Retrieved 2024-02-07.
  19. 1 2 3 Segall, Eli (June 28, 2019). "Allegiant Ventures". Las Vegas Review Journal. Retrieved 21 April 2020.
  20. ↑ Segall, Eli (July 24, 2019). "Las Vegas-based Allegiant looks to sell major side business". Las Vegas Review Journal. Retrieved 21 April 2020.
  21. ↑ Martin, Hugo (18 January 2015). "Onboard game show brings publicity, fun to Allegiant Air". Los Angeles Times. Retrieved 22 April 2020.
  22. ↑ O'Reiley, Tim (October 1, 2012). "Allegiant Travel forms new information technology company". Las Vegas Review Journal. Retrieved 16 June 2020.
  23. ↑ Saal, Mark (10 January 2019). "2 new family fun centers provide twice the fun in Clearfield". Standard-Examiner. Retrieved 22 April 2020.
  24. ↑ "Allegiant cuts capacity and halts non-airline projects". Flight Global. 18 March 2020. Retrieved 9 January 2022.
  25. ↑ Velotta, Richard N. (August 5, 2019). "'Allegiant Stadium' official name for Raiders' Las Vegas stadium". Las Vegas Review Journal. Retrieved 29 March 2020.
  26. ↑ Akers, Mick (8 September 2021). "Allegiant unveils Raiders-themed plane in Las Vegas". Las Vegas Review Journal. Retrieved 5 January 2022.
  27. 1 2 Akers, Mick (May 7, 2019). "Allegiant Air files to trademark 'Allegiant Stadium' name". Las Vegas Review Journal. Retrieved 21 April 2020.
  28. ↑ "MiLB, Allegiant Announce Credit Card Partnership". Ballpark Digest. December 11, 2018. Retrieved 14 May 2020.
  29. ↑ Akers, Mick (10 September 2019). "Allegiant's Golden Knights plane to promote team in other markets". Las Vegas Review Journal. Retrieved 22 April 2020.
  30. ↑ Akers, Mick (29 January 2020). "Las Vegas-based Allegiant Air signs deal with Indianapolis Colts". Las Vegas Review Journal. Retrieved 16 June 2020.
  31. ↑ Traub, Matt (20 September 2021). "Allegiant named Official Airline of the Pac-12 Conference". SportsTravel. Retrieved 5 January 2022.
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