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Allegiant (ALGT) Posts Unimpressive May Traffic Numbers
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Allegiant Travel Company (ALGT - Free Report) recently reported disappointing traffic numbers for May 2024.
Scheduled traffic (measured in revenue passenger miles) fell 0.6% from the May 2023 levels. Capacity (measured in available seat miles) for scheduled service improved 0.7% from the May 2023 reading. The load factor (percentage of seats filled by passengers) in May 2024 declined to 84.8% from 85.9% a year ago as the traffic did not surpass the capacity expansion.
Total departures (scheduled services) improved 1.3% in May 2024 from a year ago. However, its average stage length (miles) fell 0.2%.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 0.8% more passengers in May 2024 from the year-ago level. System-wide capacity expanded 0.7% in May 2024 on a year-over-year basis.
The fuel price per gallon in May 2024 is estimated to have been $2.81.
Apart from ALGT, other airline companies who have reported traffic numbers for May 2024 are as follows.
Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for May 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 May on a year-over-year basis. To match the demand swell, CPA is increasing its capacity. In May, available seat miles (a measure of capacity) increased 7.2% year over year. Revenue passenger miles increased 8.7%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 87.3% from 86.1% in May 2023.
Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for May 2024, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 18.9 million in May 2024, indicating an 11% year-over-year increase. RYAAY’s traffic in May was much more than the April reading of 17.3 million and the March reading of 13.6 million. May load factor improved to 95% from 94% in the year-ago period. Notably, RYAAY operated more than 105,000 flights in May 2024.
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Allegiant (ALGT) Posts Unimpressive May Traffic Numbers
Allegiant Travel Company (ALGT - Free Report) recently reported disappointing traffic numbers for May 2024.
Scheduled traffic (measured in revenue passenger miles) fell 0.6% from the May 2023 levels. Capacity (measured in available seat miles) for scheduled service improved 0.7% from the May 2023 reading. The load factor (percentage of seats filled by passengers) in May 2024 declined to 84.8% from 85.9% a year ago as the traffic did not surpass the capacity expansion.
Total departures (scheduled services) improved 1.3% in May 2024 from a year ago. However, its average stage length (miles) fell 0.2%.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 0.8% more passengers in May 2024 from the year-ago level. System-wide capacity expanded 0.7% in May 2024 on a year-over-year basis.
The fuel price per gallon in May 2024 is estimated to have been $2.81.
ALGT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apart from ALGT, other airline companies who have reported traffic numbers for May 2024 are as follows.
Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for May 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 May on a year-over-year basis. To match the demand swell, CPA is increasing its capacity. In May, available seat miles (a measure of capacity) increased 7.2% year over year. Revenue passenger miles increased 8.7%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 87.3% from 86.1% in May 2023.
Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for May 2024, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 18.9 million in May 2024, indicating an 11% year-over-year increase. RYAAY’s traffic in May was much more than the April reading of 17.3 million and the March reading of 13.6 million. May load factor improved to 95% from 94% in the year-ago period. Notably, RYAAY operated more than 105,000 flights in May 2024.