Allegiant Reports July 2024 Traffic
Rhea-AI Summary
Allegiant Travel Company (NASDAQ: ALGT) has reported its preliminary passenger traffic results for July 2024. The report shows a slight decline in passenger numbers and revenue passenger miles compared to July 2023, but an increase in available seat miles and departures. Key figures include:
- Scheduled service passengers: 1,897,963 (down 1.9%)
- Revenue passenger miles: 1,683,321,000 (down 1.7%)
- Available seat miles: 1,923,205,000 (up 2.4%)
- Load factor: 87.5% (down 3.7 points)
- Departures: 12,580 (up 2.7%)
The total system figures show similar trends. The estimated average fuel cost per gallon for July 2024 was $2.84. Allegiant continues to focus on connecting customers in small-to-medium cities with vacation destinations through all-nonstop flights and low average fares.
Positive
- Increase in available seat miles by 2.4% for scheduled service
- Growth in departures by 2.7% for scheduled service
- Total system available seat miles increased by 3.2%
- Total system departures grew by 3.6%
Negative
- Decrease in passenger numbers by 1.9% for scheduled service
- Decline in revenue passenger miles by 1.7% for scheduled service
- Load factor decreased by 3.7 percentage points to 87.5%
- Total system passenger numbers decreased by 1.8%
News Market Reaction – ALGT
In the trading session that priced this news, ALGT gained 0.73%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Scheduled Service – Year Over Year Comparison
July 2024 | July 2023 | Change | |
Passengers | 1,897,963 | 1,934,464 | (1.9 %) |
Revenue passenger miles (000) | 1,683,321 | 1,711,901 | (1.7 %) |
Available seat miles (000) | 1,923,205 | 1,877,266 | 2.4 % |
Load factor | 87.5 % | 91.2 % | (3.7pts) |
Departures | 12,580 | 12,252 | 2.7 % |
Average stage length (miles) | 870 | 867 | 0.3 %
|
Total System* - Year Over Year Comparison
July 2024 | July 2023 | Change | |
Passengers | 1,908,813 | 1,943,900 | (1.8 %) |
Available seat miles (000) | 1,968,720 | 1,907,384 | 3.2 % |
Departures | 12,912 | 12,459 | 3.6 % |
Average stage length (miles) | 868 | 866 | 0.2 % |
*Total system includes scheduled service and fixed fee contract. System revenue passenger miles and system load factor are not useful statistics as system available seat miles include both ASMs flown by fixed fee flying as well as non-revenue producing repositioning flights used for operational needs. Fixed fee flying is better measured through dollar contribution versus operational statistics.
Preliminary Financial Results
$ per gallon | |
July 2024 estimated average fuel cost per gallon – system |
Allegiant Travel Company
ALGT/G
Note: This news release was accurate at the date of issuance. However, information contained in the release may have changed. If you plan to use the information contained herein for any purpose, verification of its continued accuracy is your responsibility.
For further information please visit the company's investor website: http://ir.allegiantair.com
Reference to the Company's website above does not constitute incorporation of any of the information thereon into this news release.
Allegiant Media Contact: | Investor Inquiries: | |
Sonya Padgett | Sherry Wilson | |
email: ir@allegiantair.com |
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SOURCE Allegiant Travel Company