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Allegiant (ALGT) February Traffic Increases From 2023 Levels
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Allegiant Travel Company (ALGT - Free Report) reported traffic numbers for February 2024.
Scheduled traffic (measured in revenue passenger miles) grew 0.4% from February 2023 levels. Capacity (measured in available seat miles) for scheduled service improved 2.1% from February 2023 reading. The load factor (percentage of seats filled by passengers) in February 2024 came in at 84%.
Total departures (scheduled services) grew 0.2% in February 2024 from its year-ago levels. Moreover, its average stage length (miles) improved 1.3%.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 0.3% more passengers in February 2024 from the year-ago period’s level.
Fuel price per gallon in February is estimated to have been $3.16. For first-quarter 2024, the estimated average fuel cost per gallon - system - guidance is $3.02.
Given the buoyant traffic scenario, ALGT is not the only airline to report impressive traffic numbers for February.
Copa Holdings, S.A.(CPA - Free Report) reported solid traffic numbers for February 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in February on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In February, available seat miles (a measure of capacity) increased 17% year over year. Revenue passenger miles increased 17.5%. With traffic growth outpacing capacity expansion, the load factor improved to 86.3% from 85.9% in February 2023.
Ryanair Holdings(RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for February 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 11.10 million, implying that 5% more passengers flew than a year ago.
The load factor was high at 92% in February 2024. The reading was similar in the year-ago period.
RYAAY operated more than 63,000 flights in February 2024. However, more than 800 flights got canceled due to the Israel/Gaza conflict.
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Allegiant (ALGT) February Traffic Increases From 2023 Levels
Allegiant Travel Company (ALGT - Free Report) reported traffic numbers for February 2024.
Scheduled traffic (measured in revenue passenger miles) grew 0.4% from February 2023 levels. Capacity (measured in available seat miles) for scheduled service improved 2.1% from February 2023 reading. The load factor (percentage of seats filled by passengers) in February 2024 came in at 84%.
Total departures (scheduled services) grew 0.2% in February 2024 from its year-ago levels. Moreover, its average stage length (miles) improved 1.3%.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 0.3% more passengers in February 2024 from the year-ago period’s level.
Fuel price per gallon in February is estimated to have been $3.16. For first-quarter 2024, the estimated average fuel cost per gallon - system - guidance is $3.02.
ALGT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Given the buoyant traffic scenario, ALGT is not the only airline to report impressive traffic numbers for February.
Copa Holdings, S.A.(CPA - Free Report) reported solid traffic numbers for February 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in February on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In February, available seat miles (a measure of capacity) increased 17% year over year. Revenue passenger miles increased 17.5%. With traffic growth outpacing capacity expansion, the load factor improved to 86.3% from 85.9% in February 2023.
Ryanair Holdings(RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for February 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 11.10 million, implying that 5% more passengers flew than a year ago.
The load factor was high at 92% in February 2024. The reading was similar in the year-ago period.
RYAAY operated more than 63,000 flights in February 2024. However, more than 800 flights got canceled due to the Israel/Gaza conflict.