Allegiant (ALGT) Posts Unimpressive August Traffic Figures
Allegiant Travel Company ALGT reported disappointing traffic numbers for August 2023.
Scheduled traffic (measured in revenue passenger miles) fell 4.9% from August 2022 levels. Capacity (measured in available seat miles) for scheduled service decreased 3.9% from August 2022 reading. The load factor (percentage of seats filled by passengers) in August 2023 was 86%.
Total departures (scheduled services) fell 4.8% in August 2023 from its year-ago levels. However, its average stage length (miles) improved 0.8%.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 4.7% less passengers in August 2023 from the year-ago period’s level.
Fuel price per gallon in August was estimated at $3.16. For 2023, the estimated average fuel cost per gallon - system is $3.17, higher than the prior prediction of $2.90.
ALGT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
While Allegiant’s traffic numbers for August 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 August on a year-over-year basis. To match the demand swell, CPA is increasing its capacity. In August, available seat miles (a measure of capacity) increased 12.8% year over year. Revenue passenger miles increased 13.3%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 87% from 86.6% in August 2022.
Brazilian carrier, Azul S.A. AZUL reported double-digit year-over-year increases in traffic and capacity for August 2023.
In August, the Brazilian carrier’s consolidated revenue passenger kilometers (a measure of air traffic) and available seat kilometers (a measure of capacity) increased 13.5% and 13.1%, 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 81.6% from 81.3% in August 2022.
On the domestic front, with revenue passenger kilometers (7.5%) outpacing available seat kilometers (6.8%), the load factor increased to 80.2% from 79.7% in August 2022.
Internationally, revenue passenger kilometers and available seat kilometers increased 38.4% and 41.8%, respectively, on a year-over-year basis. The load factor was 86.3%.
Gol Linhas Aereas Inteligentes S.A. (GOL) recently reported a double-digit year-over-year increase in traffic and capacity for August 2023.
In August, consolidated revenue passenger kilometers (a measure of air traffic) and available seat kilometers (a measure of capacity) increased 11.6% and 7.7%, respectively, on a year-over-year basis. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) for August 2023 improved to 84.4% from 81.5% in August 2022. The number of flight departures at GOL in August registered a 17.8% year-over-year increase. Consolidated passengers on board rose 22.4% year over year.
On the domestic front, with revenue passenger kilometers (13.7%) outpacing available seat kilometers (9.4%), the load factor increased to 84.6% from 81.4% in August 2022.
Internationally, the load factor increased to 82.7% from 82.3% in August 2022.
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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
