Allegiant (ALGT) October Traffic Increases From 2022 Levels
Allegiant Travel Company ALGT recently reported a double-digit year-over-year increase in traffic and capacity for October 2023.
Scheduled traffic (measured in revenue passenger miles) increased 10.7% from October 2022. Capacity (measured in available seat miles) for scheduled service grew 13.1% from the October 2022 reading. The load factor (percentage of seats filled by passengers) in October 2023 came in at 83.7%.
Total departures (scheduled services) grew 14.5% in October 2023 from the year-ago period. However, its average stage length (miles) fell 1.4%.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 12.8% more passengers in October 2023 from the year-ago level.
Fuel price per gallon in October is estimated to have been $3.44. For 2023, the estimated average fuel cost per gallon — system — guidance is $3.12, higher than the prior view of $2.90.
ALGT currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
While Allegiant’s traffic numbers for October 2023 look disappointing, let’s take a look at the impressive traffic numbers reported by other players from the Zacks airline industry.
Driven by high passenger volumes, Copa Holdings, S.A. CPA revenue passenger miles (a measure of traffic) rose in double digits in October on a year-over-year basis. To match the demand swell, CPA is increasing its capacity. In October, available seat miles (a measure of capacity) increased 12% year over year. Revenue passenger miles increased 10.2%. The load factor (percentage of seats filled by passengers) came in at 87.6% for October 2023.
Gol Linhas Aereas Inteligentes S.A. (GOL) recently reported a double-digit year-over-year increase in traffic and capacity for October 2023. In October, consolidated revenue passenger kilometers (a measure of air traffic) increased 2.6% on a year-over-year basis, while available seat kilometers (a measure of capacity) fell 1.2%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) for October 2023 improved to 84.5% from 81.4% in October 2022. The number of flight departures at GOL in October registered a 3.1% year-over-year increase. Consolidated passengers on board rose 8.6% year over year.
On the domestic front, with revenue passenger kilometers (4.7%) outpacing available seat kilometers (1%), the load factor increased to 84.6% from 81.6% in October 2022. Internationally, the load factor increased to 83.4% from 79.7% in October 2022.
Azul S.A. AZUL reported double-digit year-over-year increases in traffic and capacity for October 2023.
In October, the Brazilian carrier’s consolidated revenue passenger kilometers (a measure of air traffic) and available seat kilometers (a measure of capacity) increased 13.7% and 8.4%, respectively, on a year-over-year basis. With consolidated passenger traffic growth outpacing capacity expansion, the load factor (the percentage of seats filled by passengers) improved to 81.1% from 77.2% in October 2022.
On the domestic front, with revenue passenger kilometers (7.6%) outpacing available seat kilometers (3.1%), the load factor increased to 78.6% from 75.3% in October 2022.
Internationally, revenue passenger kilometers and available seat kilometers increased 37.5% and 31.8%, respectively, on a year-over-year basis. The load factor increased to 89.8% from 86.1% in October 2022.
Ryanair HoldingsRYAAY, a European carrier, also reported impressive traffic numbers for October 2023, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in October was 17.1 million, implying that 9% more passengers flew than a year ago. The load factor (percentage of seats filled by passengers) came in at 93% in October 2023. RYAAY operated more than 96,700 flights in October 2023.
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Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report
Gol Linhas Aereas Inteligentes S.A. (GOL) : Free Stock Analysis Report
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
Allegiant Travel Company (ALGT) : Free Stock Analysis Report
AZUL (AZUL) : Free Stock Analysis Report
