Allegiant’s creative travel deals come as $93M second quarter loss reported

Local News

An Allegiant Airlines plane bears the Vegas Golden Knights logo while on the ground at McCarran International Airport.

LAS VEGAS (KLAS) — With millions of Americans still working remotely, Allegiant Air says, “Why not work from Las Vegas?”

The promotion comes as Allegiant Travel Co. reports a second-quarter loss of $93.1 million, after reporting a profit in the same period a year earlier.

Airlines and travel companies have been hard-hit as people move slowly back to normal life during the COVID-19 pandemic. Shutdowns around the nation have reduced demand for flights and those flights are gradually coming back.

Allegiant’s creative approach includes the offering of special flight and hotel packages. Allegiant intends to appeal to professionals in larger Allegiant markets who might be tired of doing their jobs from home every day, according to a report in USAToday.

The Las Vegas-based company said it had a second-quarter loss of $5.85 per share. Losses, adjusted for non-recurring gains, came to $5.96 per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $4.53 per share.

The travel services company posted revenue of $133.3 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $125.9 million.

Allegiant Travel shares have dropped 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $114.79, a decrease of 25% in the last 12 months.

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