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Allegiant (ALGT) to Add 22 New Routes, 2 Aircraft & Crew Bases

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With leisure air-travel demand continuing to rebound, Allegiant Travel Company (ALGT - Free Report) announced plans to add 22 new nonstop routes for fall and winter travel.

The airline will offer customers wider options to travel to tourist destinations in Florida, Arizona and California. Some of the services include flights from Minneapolis, MN and Las Vegas to Destin-Fort Walton Beach Airport in Florida (beginning October 2021), from Amarillo, TX and Flint, MI to Phoenix-Mesa Gateway Airport in Arizona (starting November 2021), and from Des Moines, IA and Indianapolis, IN to Palm Springs International Airport in California (starting November 2021).

As a promotional measure, the carrier is offering one-way fares as low as $39 for the to-be-launched services.

Focusing on expanding its operations to capitalize on the recovery in leisure-travel demand, Allegiant also plans to establish new aircraft and crew bases in Flint, MI and Appleton, WI in the first quarter of 2022.

The airline will make an investment of $75 million at the Flint Bishop International Airport to begin base operations with three Airbus A320 aircraft and at least 89 crew members, maintenance technicians and support staff on Feb 16, 2022.

At Appleton International Airport, the carrier will invest $50 million toward two locally based Airbus A320 aircraft and creating at least 66 new jobs for the community. The company will begin base operations at Appleton on Mar 2, 2022.

The new bases will help Allegiant introduce additional routes as well as add flight frequencies across its network.

Zacks Rank & Key Picks

Allegiant carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Union Pacific Corporation (UNP - Free Report) , ArcBest Corporation (ARCB - Free Report) and Matson (MATX - Free Report) . While Union Pacific carries a Zacks Rank #2 (Buy), ArcBest and Matson sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here.

Shares of Union Pacific, ArcBest and Matson have rallied more than 15%, 100% and 79% in a year’s time, respectively.