MIAMI – Although it has been around for 24 years, Allegiant Air (G4) is a relative newcomer to the industry, and provides service between many cities in the United States, flying both charter and scheduled air service.
The airline also provides charter service from the United States to Canada and Mexico. Today, Allegiant Travel Company, the parent of G4 and Allegiant Vacations saw its stock, which is traded on NASDAQ, close at US$193.36.
Allegiant today released its Q4 and Full-Year 2020 financial results. In Q4, G4’s net loss was US$28.8m, and the FY loss was US$184.1m.
In addition, during Q4, the airline announced 15 new non-stop routes including two new cities, along with another 21 new non-stop routes including three destinations in early January, which brings the total routes served to 543 and 129 cities.
Maurice J. Gallagher, Jr., chairman and CEO fo Allegiant Travel Company said, “With the close of the fourth quarter, we completed the most challenging year the industry has faced in its history. We still have a long road ahead to a full recovery, but we are gaining momentum and moving in the right direction.”
Gallagher added that “Although the exact timing of a full recovery is unknown, the improvements observed in the fourth quarter coupled with the vaccine rollout suggest recovery is on the horizon . . .Our 100 percent domestic network focusing on the leisure traveler and predicated around a low cost, low utilization model positions us favorably for a quick recovery.”
For more details on Allegiant’s financial results, please visit their website.
Featured image: Matt Calise/Airways