ALLEGIANT REPORTS APRIL 2024 TRAFFIC
Rhea-AI Summary
Allegiant Travel Company (NASDAQ: ALGT) reported preliminary passenger traffic results for April 2024.
Year-over-year comparisons show a decrease in several key metrics:
Passengers: 1,328,010 in April 2024, down 12.1% from 1,511,309 in April 2023.
Revenue passenger miles: 1,232,419, a decline of 13.0% from 1,417,077.
Available seat miles: 1,495,665, down 11.0% from 1,680,635.
Load factor: 82.4%, a decrease of 1.9 points from 84.3%.
Departures also decreased by 11.2%, from 10,468 to 9,296.
The average stage length remained unchanged at 911 miles.
Total system metrics also showed declines, with passengers down 11.8% and available seat miles down 10.3%.
The estimated average fuel cost per gallon for April 2024 was $2.99.
Positive
- Allegiant's average stage length remained stable at 911 miles.
- Average fuel cost per gallon was estimated at $2.99, providing a clear benchmark for operational costs.
Negative
- Passengers decreased by 12.1% year-over-year to 1,328,010.
- Revenue passenger miles fell by 13.0% to 1,232,419.
- Available seat miles decreased by 11.0% to 1,495,665.
- Load factor dropped by 1.9 points to 82.4%.
- Departures fell by 11.2% to 9,296.
- Total system passengers decreased by 11.8% to 1,344,077.
- Total system available seat miles dropped by 10.3% to 1,543,609.
News Market Reaction 1 Alert
On the day this news was published, ALGT declined 1.23%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Scheduled Service – Year Over Year Comparison | |||
April 2024 | April 2023 | Change | |
Passengers | 1,328,010 | 1,511,309 | (12.1 %) |
Revenue passenger miles (000) | 1,232,419 | 1,417,077 | (13.0 %) |
Available seat miles (000) | 1,495,665 | 1,680,635 | (11.0 %) |
Load factor | 82.4 % | 84.3 % | (1.9) pts |
Departures | 9,296 | 10,468 | (11.2 %) |
Average stage length (miles) | 911 | 911 | 0.0 % |
Total System* - Year Over Year Comparison | |||
April 2024 | April 2023 | Change | |
Passengers | 1,344,077 | 1,524,420 | (11.8 %) |
Available seat miles (000) | 1,543,609 | 1,720,040 | (10.3 %) |
Departures | 9,637 | 10,752 | (10.4 %) |
Average stage length (miles) | 907 | 908 | (0.1 %) |
*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 | |
April 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 |
View original content to download multimedia:https://www.prnewswire.com/news-releases/allegiant-reports-april-2024-traffic-302157675.html
SOURCE Allegiant Travel Company
FAQ
How did Allegiant's passenger traffic change in April 2024?
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