Allegiant October 2024 Traffic Numbers Declines Year Over Year

Zacks2024-11-19

Allegiant Travel Company ALGT recently reported disappointing traffic numbers for October 2024. Scheduled traffic (measured in revenue passenger miles) fell 15.7% from the October 2023 levels. ...

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Capacity  for scheduled service fell 10.2% year over year. As traffic decline was more than capacity, the load factor  in October 2024 declined to 78.5% from 83.7% a year ago.Total departures  fell 10.7% in October 2024 from a year ago. However, its average stage length  grew 1.6% year over year.For the total system , Allegiant carried 17% less passengers in October 2024 from the year-ago period. System-wide capacity declined 9.2% in October 2024 on a year-over-year basis.The fuel price per gallon in October 2024 is estimated to have been $2.52.The number of passengers transported on Ryanair flights was 18.3 million in October 2024, reflecting a 7% year-over-year increase. The October load factor  of 93% remained flat on a year-over-year basis, reflecting consistent passenger demand for the airline's services. RYAAY operated more tha","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4500":"航空公司","CPA":"科帕控股","BK4566":"资本集团","BK4532":"文艺复兴科技持仓","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","BK4548":"巴美列捷福持仓","BK4008":"航空公司","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","RYAAY":"Ryanair Holdings plc","ALGT":"忠诚旅游"},"translate_title":"Allegiant 2024年10月客流量同比下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALGT":1,"RYAAY":1,"CPA":0.9},"content_text":"Allegiant Travel Company ALGT recently reported disappointing traffic numbers for October 2024. \nScheduled traffic (measured in revenue passenger miles) fell 15.7% from the October 2023 levels. Capacity (measured in available seat miles) for scheduled service fell 10.2% year over year. As traffic decline was more than capacity, the load factor (percentage of seats filled by passengers) in October 2024 declined to 78.5% from 83.7% a year ago.\nTotal departures (scheduled services) fell 10.7% in October 2024 from a year ago. However, its average stage length (miles) grew 1.6% year over year.\nFor the total system (including scheduled service and fixed fee contract), Allegiant carried 17% less passengers in October 2024 from the year-ago period. System-wide capacity declined 9.2% in October 2024 on a year-over-year basis.\nThe fuel price per gallon in October 2024 is estimated to have been $2.52.\nDrew Wells, chief commercial officer at Allegiant Travel Company, stated, \"As observed below and consistent with commentary from our third quarter earnings call, hurricanes Helene and Milton had an outsized impact on our business. We canceled nearly 1,000 flights between late September and early January, with approximately two-thirds of those cancelations occurring during the month of October. We are encouraged by booking trends following the election, which suggest a faster-than-expected recovery for the impacted areas. We will continue monitoring these trends with the intent of updating guidance, as needed.\" \nApart from ALGT, other airline companies who have reported traffic numbers for October 2024 are as follows.\nCopa Holdings, S.A.CPA reported traffic numbers for October 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) improved on a year-over-year basis in October.\nTo match the demand swell, CPA is increasing its capacity. In October, available seat miles (a measure of capacity) increased 6.6% year over year. Revenue passenger miles increased 6.5% year over year. Although traffic improved on a year-over-year basis, it failed to outpace capacity expansion. As a result, the load factor (percentage of seats filled by passengers) fell to 87.4% from 87.6% in October 2023.\nRyanair HoldingsRYAAY, a European carrier, has also reported impressive traffic numbers for October 2024.\nThe number of passengers transported on Ryanair flights was 18.3 million in October 2024, reflecting a 7% year-over-year increase. The October load factor (percentage of seats filled by passengers) of 93% remained flat on a year-over-year basis, reflecting consistent passenger demand for the airline's services.  RYAAY operated more than 103,200 flights in October 2024.\nTo meet the upbeat demand, Ryanair expects its traffic view to grow 8% on a year-over-year basis for fiscal 2025, subject to no worsening of current Boeing delivery delays.\nALGT’s Zacks Rank & Price Performance\nALGT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nShares of ALGT have gained 94.7% over the past three months compared with 15.8% growth of the Zacks Airline industry.\nThree-Month Price Comparison\nImage Source: Zacks Investment Research\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nRyanair Holdings PLC (RYAAY) : Free Stock Analysis Report\nCopa Holdings, S.A. (CPA) : Free Stock Analysis Report\nAllegiant Travel Company (ALGT) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484609635"}