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Allegiant (ALGT) Posts Unimpressive July Traffic Numbers
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Allegiant Travel Company (ALGT - Free Report) recently reported disappointing traffic numbers for July 2024.
Scheduled traffic (measured in revenue passenger miles) fell 1.7% from the July 2023 levels. Capacity (measured in available seat miles) for scheduled service grew 2.4% year over year. As traffic failed to outpace capacity expansion, the load factor (percentage of seats filled by passengers) in July 2024 declined to 87.5% from 91.2% a year ago.
Total departures (scheduled services) improved 2.7% in July 2024 from a year ago. Moreover, its average stage length (miles) grew 0.3% year over year.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 1.8% less passengers in July 2024 from the year-ago period. System-wide capacity expanded 3.2% in July 2024 on a year-over-year basis.
The fuel price per gallon in July 2024 is estimated to have been $2.84.
Apart from ALGT, other airline companies who have reported traffic numbers for July 2024 are as follows.
Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for July 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 July on a year-over-year basis. To match the demand swell, CPA is increasing its capacity. In July, available seat miles (a measure of capacity) increased 11.3% year over year. Revenue passenger miles increased 9.5% 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 87.6% from 89% in July 2023.
Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for July 2024, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 20.2 million in July 2024, reflecting an 8% year-over-year increase. RYAAY’s traffic in July was much more than the June reading of 19.3 million, the May reading of 18.9 million, the April reading of 17.3 million and the March reading of 13.6 million.
The July load factor (percentage of seats filled by passengers) of 96% remained flat on a year-over-year basis. The figure was higher than the load factor of 95% reported in June as well as May, 92% reported in April 2024 and 93% reported in March 2024.
Notably, RYAAY operated more than 110,500 flights in July 2024. This marks an improvement from 106,000 flights operated in June 2024, 105,000 flights in May 2024, 98,400 flights in April 2024 and 77,000 flights in March 2024. However, almost 651 flights got canceled due to the ATC (air traffic control) delays.
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Allegiant (ALGT) Posts Unimpressive July Traffic Numbers
Allegiant Travel Company (ALGT - Free Report) recently reported disappointing traffic numbers for July 2024.
Scheduled traffic (measured in revenue passenger miles) fell 1.7% from the July 2023 levels. Capacity (measured in available seat miles) for scheduled service grew 2.4% year over year. As traffic failed to outpace capacity expansion, the load factor (percentage of seats filled by passengers) in July 2024 declined to 87.5% from 91.2% a year ago.
Total departures (scheduled services) improved 2.7% in July 2024 from a year ago. Moreover, its average stage length (miles) grew 0.3% year over year.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 1.8% less passengers in July 2024 from the year-ago period. System-wide capacity expanded 3.2% in July 2024 on a year-over-year basis.
The fuel price per gallon in July 2024 is estimated to have been $2.84.
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 July 2024 are as follows.
Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for July 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 July on a year-over-year basis. To match the demand swell, CPA is increasing its capacity. In July, available seat miles (a measure of capacity) increased 11.3% year over year. Revenue passenger miles increased 9.5% 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 87.6% from 89% in July 2023.
Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for July 2024, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 20.2 million in July 2024, reflecting an 8% year-over-year increase. RYAAY’s traffic in July was much more than the June reading of 19.3 million, the May reading of 18.9 million, the April reading of 17.3 million and the March reading of 13.6 million.
The July load factor (percentage of seats filled by passengers) of 96% remained flat on a year-over-year basis. The figure was higher than the load factor of 95% reported in June as well as May, 92% reported in April 2024 and 93% reported in March 2024.
Notably, RYAAY operated more than 110,500 flights in July 2024. This marks an improvement from 106,000 flights operated in June 2024, 105,000 flights in May 2024, 98,400 flights in April 2024 and 77,000 flights in March 2024. However, almost 651 flights got canceled due to the ATC (air traffic control) delays.