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Allegiant (ALGT) to Open New Base in Austin This November

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Allegiant Travel Company ALGT announced plans to open an operations base at the South Terminal of Austin-Bergstrom International Airport (“AUS”). To this end, the company will invest $75 million. This is a prudent move given the optimism surrounding recovery in air-travel demand as more Americans get vaccinated.

The new base in Austin, TX is expected to create at least 89 high-wage jobs and house three of the airline’s Airbus A320 aircraft. The base is expected to be operational from Nov 18, 2021.

The Las Vegas, NV-based company’s senior vice president of revenues, Drew Wells, stated, "It makes perfect sense to establish a permanent base in Austin, further establishing Allegiant as a hometown airline in a city we love and where we plan to grow. Having locally-based operations will mean opportunities for expanded hours, as well as more – and more frequent – flight offerings for visitors and locals alike."

Allegiant Travel Company Price

Allegiant Travel Company Price
Allegiant Travel Company Price

Allegiant Travel Company price | Allegiant Travel Company Quote

Allegiant commenced operations at AUS in October 2013 with service between Austin and Las Vegas. The airline currently offers 14 nonstop services from the airport to Orlando-Sanford and Destin-Fort Walton Beach in Florida; Cincinnati, OH; Memphis and Knoxville in Tennessee; Albuquerque, NM; Pittsburgh, PA; Indianapolis, IN; Des Moines, IA and Asheville, NC among other destinations.

Apart from potentially expanding Allegiant’s network and offering customers convenient travel options, the new base at Austin provides economic support to Central Texas.

Zacks Rank & Key Picks

Allegiant carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Navios Maritime Partners LP NMM, USA Truck, Inc. USAK and Saia, Inc. SAIA. While USA Truck sports a Zacks Rank #1 (Strong Buy), Navios Maritime Partners and Saia carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Navios Maritime Partners, USA Truck and Saia have rallied more than 200%, 79% and 60% in the past six months respectively.

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Allegiant Travel Company (ALGT) : Free Stock Analysis Report

Saia, Inc. (SAIA) : Free Stock Analysis Report

Navios Maritime Partners LP (NMM) : Free Stock Analysis Report

USA Truck, Inc. (USAK) : Free Stock Analysis Report

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