Allegiant COO Keny Wilper steps down, interim named

LAS VEGAS - Allegiant Travel Company (NASDAQ: NASDAQ:ALGT), currently valued at $1.3 billion, today announced a change in its executive team with the departure of Chief Operating Officer Keny F. Wilper. After a notable 23-year tenure, Wilper will transition to an advisory role to assist the company while a search for his successor is underway. Tyler Hollingsworth, Senior Vice President of Flight Operations, has been appointed as interim COO. According to InvestingPro data, the company has shown resilience despite recent challenges, with revenue reaching $2.5 billion in the last twelve months.

Wilper, who joined Allegiant in 2002, played a significant role in transforming the company into an ultra-low-cost carrier. His contributions include the development of the airline’s ancillary inflight and baggage programs, which have become fundamental to Allegiant’s business model. Throughout his career at Allegiant, Wilper has held various key leadership positions, contributing to the operational and financial strength of the company. While the company currently operates with a significant debt burden, InvestingPro analysis indicates net income is expected to grow this year, with analysts projecting a return to profitability.

Gregory C. Anderson, President and CEO of Allegiant, expressed gratitude for Wilper’s service and leadership, highlighting the strong team he helped to build. Wilper stated his decision to step down was driven by the need to focus on his family, facing significant challenges. He reflected on the success of Allegiant, surpassing his initial expectations and becoming a leader in leisure travel.

Hollingsworth, who will serve as interim COO, has been with Allegiant since 2010, starting as a line pilot before moving into leadership roles. He was instrumental in integrating the Safety and Security departments and played a pivotal role during the COVID-19 pandemic, earning Allegiant recognition for safety and protection measures. With a Bachelor of Science in aeronautics, aviation, and aerospace science and technology, Hollingsworth’s experience and leadership are expected to maintain the company’s operational momentum.

Allegiant, founded in 1999 and based in Las Vegas, has established itself as an integrated travel company with an airline at its core, connecting customers to various destinations with nonstop flights and competitive fares. The company’s stock has shown significant momentum, posting a 79% gain over the past six months, despite recent market volatility. The information regarding the COO transition is based on a press release statement from Allegiant Travel Company. For comprehensive analysis and additional insights, including 10+ more ProTips and detailed financial metrics, visit InvestingPro.

In other recent news, Allegiant Travel Company reported its fourth-quarter 2024 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $2.10, surpassing the forecast of $1.19. The company also reported revenue of $627.7 million, which was above the anticipated $622.34 million. Allegiant’s first-quarter 2025 earnings guidance, with an EPS range of $1.50 to $2.50, was lower than pre-release forecasts, but Raymond (NSE:RYMD) James analyst Savanthi Syth maintained an Outperform rating, raising the stock target from $110 to $125. Allegiant experienced a 6.5% increase in January 2025 passenger numbers compared to the previous year, with a notable rise in revenue passenger miles. The airline’s operational costs included an estimated fuel cost of $2.66 per gallon for January 2025. Allegiant is also focusing on reducing its debt and anticipates selling its Sunseeker resort by the upcoming summer, which is expected to enhance its financial standing. Additionally, Allegiant plans to expand its Allegiant Extra seating to 70% of its fleet by the end of 2025, aiming for a 17% capacity growth for the year.

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