Allegiant Reports October 2024 Traffic

Rhea-AI Summary

Allegiant Travel Company (ALGT) reported significant traffic decline in October 2024 due to hurricanes Helene and Milton. Nearly 1,000 flights were canceled between late September and early January, with about two-thirds occurring in October. The company saw a 17% decrease in passengers to 1,168,344, while revenue passenger miles dropped 15.7%. Load factor decreased by 5.2 points to 78.5%. The system-wide available seat miles declined 9.2%, with departures down 9.9%. The estimated average fuel cost was $2.52 per gallon. However, post-election booking trends indicate a faster-than-expected recovery in affected areas.

Positive

• Post-election booking trends showing faster-than-expected recovery in affected areas
• Slight increase in average stage length by 1.6% for scheduled service

Negative

• 17% decrease in passenger traffic to 1,168,344
• 15.7% decline in revenue passenger miles
• Load factor decreased by 5.2 points to 78.5%
• 10.7% reduction in departures
• Nearly 1,000 flight cancellations due to hurricanes

LAS VEGAS, Nov. 15, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for October 2024.

"As observed below and consistent with commentary from our third quarter earnings call, hurricanes Helene and Milton had an outsized impact on our business," stated Drew Wells, Chief Commercial Officer of Allegiant Travel Company. "We canceled nearly 1,000 flights between late September and early January, with approximately two-thirds of those cancelations occurring during the month of October. We are encouraged by booking trends following the election, which suggest a faster-than-expected recovery for the impacted areas. We will continue monitoring these trends with the intent of updating guidance, as needed." 

Scheduled Service – Year Over Year Comparison
	October 2024	October 2023	Change
Passengers	1,168,344	1,407,936	(17.0 %)
Revenue passenger miles (000)	1,059,877	1,257,473	(15.7 %)
Available seat miles (000)	1,349,511	1,502,611	(10.2 %)
Load factor	78.5 %	83.7 %	(5.2pts)
Departures	8,679	9,716	(10.7 %)
Average stage length (miles)	887	873	1.6 %

 

Total System* – Year Over Year Comparison
	October 2024	October 2023	Change
Passengers	1,197,186	1,442,874	(17.0 %)
Available seat miles (000)	1,428,955	1,573,859	(9.2 %)
Departures	9,311	10,336	(9.9 %)
Average stage length (miles)	875	859	1.8 %

*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
October 2024 estimated average fuel cost per gallon - system	$2.52

 

Allegiant Travel Company

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at gofly.us/iiFa303wrtF

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: 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
mediarelations@allegiantair.com		ir@allegiantair.com

 

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SOURCE Allegiant Travel Company

FAQ

How did hurricanes affect Allegiant's (ALGT) October 2024 traffic?

Hurricanes Helene and Milton caused nearly 1,000 flight cancellations between late September and early January, with approximately two-thirds occurring in October 2024, leading to a 17% decrease in passengers.

What was Allegiant's (ALGT) load factor in October 2024?

Allegiant's load factor in October 2024 was 78.5%, representing a decrease of 5.2 percentage points compared to October 2023's 83.7%.

What was Allegiant's (ALGT) fuel cost per gallon in October 2024?

Allegiant's estimated average fuel cost per gallon for the system in October 2024 was $2.52.