(Bloomberg) -- Allegiant Travel Co. is cutting its revenue guidance, citing the impact of Hurricane Ian, which has forced the ultra-low-cost airline to cancel most flights to and from Florida for a multi-day stretch.
The Las Vegas-based company on Thursday reduced its total operating revenue forecast for the third quarter by 1.5 percentage points. It now sees sales up 27.5% compared to the same period in 2019, prior to the onset of the pandemic.
“While the overall financial and operational impacts are yet to be determined, we have updated our quarterly guidance to include these expected headwinds,” Gregory Anderson, Allegiant’s president and chief financial officer, said in a statement.
Shares of the company fell 4.2% to $75.43 at 11:29 a.m. in New York.
Anderson said Allegiant has repositioned aircraft out of Florida and helped its employees and their families in the area find shelter. He also said the company has “worked around the clock to help safeguard” its brand new 785-room Sunseeker Resort Charlotte Harbor resort in Southwest Florida, which it expects to open in May.
©2022 Bloomberg L.P.