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Allegiant (ALGT) to Launch 21 New Routes With Low Fares

Zacks Equity Research
·2 min read

Allegiant Travel Company ALGT announced plans for a major service expansion as air-travel demand, especially for leisure, improves gradually. The Las Vegas-based carrier announced 21 new routes, all starting by mid-2021.

As part of the expansion plan, the ultra-low cost carrier will serve nine routes in three new cities including Portland, Key West and Jackson Hole. Of these 21 routes, commencement of eight routes was delayed in 2020 due to the coronavirus pandemic.

Beginning Jun 2, 2021, the carrier will initiate services connecting Jackson Hole Airport (“JAC”) to Los Angeles International Airport and Phoenix Mesa Gateway Airport. On the same day, a new route to Nashville International Airport will be connecting Key West International Airport (“EYW”).

Starting Jun 4, 2021, Allegiant will initiate a flight from JAC to Las Vegas International Airport and Reno-Tahoe International Airport. On the same day, a new route to Orlando Sanford International Airport will be connecting EYW.

In addition to the new destinations, the budget-friendly carrier is also expanding its existing network in places like Maryland, South Carolina and Illinois. Of those delayed eight routes, the carrier intends to connect places including Grand Rapids, Pittsburgh, Columbus, Greensboro, Charleston, Knoxville, Destin and Savannah.

Customers can avail these services for one-way fares as low as $39, $49 and $59. However, the offer is limited to those who purchase tickets by Jan 13, 2021 to travel by Aug 16, 2021.

Zacks Rank & Stocks to Consider

Allegiant currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader Zacks Transportation sector are FedEx Corporation FDX, Landstar System, Inc. LSTR and Herc Holdings Inc. HRI. Landstar carries a Zacks Rank #2 (Buy), while FedEx and Herc Holdings sport a Zacks Rank #1 (Strong 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 FedEx, Landstar and Herc Holdings is pegged at 12%, 12% and 12.6%, respectively.

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FedEx Corporation (FDX) : Free Stock Analysis Report
 
Allegiant Travel Company (ALGT) : Free Stock Analysis Report
 
Landstar System, Inc. (LSTR) : Free Stock Analysis Report
 
Herc Holdings Inc. (HRI) : Free Stock Analysis Report
 
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