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Allegiant (ALGT) to Begin Seven New Routes With Low Tariff

Zacks Equity Research
·3 min read

Allegiant Travel Company ALGT announces seven new non-stop services to take advantage of the improvement in leisure air travel demand, as following the easing of restrictions. These routes will include three new flights to Florida, two to Palm Springs and one each to Arizona and Colorado.

Commencing on Nov 19, 2020, Allegiant will initiate a flight connecting Boston Logan International Airport (BOS) with Sarasota-Bradenton International Airport (SRQ) in Florida. On the same day, a new route to Phoenix-Mesa Gateway International Airport (AZA) in Arizona will be connecting Santa Maria Airport (SMX). A new seasonal route to Denver International Airport (DEN) in Colorado will be connecting Provo Municipal Airport (PVU) on the very day.

Beginning Nov 20, 2020, Allegiant will initiate a flight connecting Houston, Texas with Punta Gorda Airport (PGD) in Southwest Florida. Simultaneously, it will connect PGD to Chicago Midway International Airport (MDW).

Allegiant Travel Company Price

Allegiant Travel Company Price
Allegiant Travel Company Price

Allegiant Travel Company price | Allegiant Travel Company Quote

Allegiant will be serving a new seasonal route connecting Boise Airport (BOI) with Palm Springs International Airport (PSP) in Southern California. Also, it will connect PSP to Eugene Airport (EUG). While the Boise - Palm Springs service will begin operations on Nov 19, the Eugene - Palm Springs service will start operating the next day.

On Nov 21, the carrier will begin an extension of the seasonal route Bozeman Yellowstone International Airport (BZN) in Montana with Nashville International Airport (BNA).

Each of the above-mentioned non-stop flights will operate twice a week. While the one-way introductory fares for flights to PGD, AZA and DEN are as cheap as $29, the same for services to SRQ and PSP are $39 and $49, respectively. Moreover, the expansion of the seasonal route to BNZ charges a one-way tariff of $59.

Zacks Rank & Stocks to Consider

Allegiant currently carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. KNX , United Parcel Service, Inc. UPS and Werner Enterprises, Inc. WERN . Knight-Swift sports a Zacks Rank # 1 (Strong Buy), while UPS and Werner carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, UPS and Werner is pegged at 15%, 7.7% and 8.5%, respectively.

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