Allegiant Travel Company (ALGT - Free Report) carried 20.4% less passengers under its scheduled service in April 2021 than its April 2019 (pre-pandemic) levels. Scheduled traffic (measured in revenue passenger miles) declined 21.6% in the month from April 2019 levels. Capacity (measured in available seat miles) for scheduled service slid 0.6% from April 2019 reading.
With the traffic decline outweighing capacity contraction, load factor (% of seats filled by passengers) in April contracted 17.2 points to 63.8% from the same month two years ago. For the total system (including scheduled service and fixed fee contract), Allegiant carried less passengers in April 2021, down 20.6% from the April 2019 levels.
However, with air-travel demand improving in the United States, particularly for leisure as more and more Americans get vaccinated, the picture grew rosier on a year-over-year basis. For scheduled service, load factor improved 44.5 points to 63.8% in April with the traffic surge (up 2,470.4%) outpacing capacity expansion. Departures increased 763.9%. With oil prices shooting up, fuel cost per gallon at Allegiant is naturally on the rise. The metric, which was $1.86 in March, is estimated to have risen to $1.90 in April.
Apart from its traffic numbers, Allegiant was in news recently when it reported first-quarter 2021 results. Alike its fellow airlines Southwest Airlines (LUV - Free Report) , JetBlue Airways (JBLU - Free Report) and Spirit Airlines (SAVE - Free Report) , the carrier incurred a loss due to passenger revenue weakness.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Allegiant Travel Company (ALGT - Free Report) carried 20.4% less passengers under its scheduled service in April 2021 than its April 2019 (pre-pandemic) levels. Scheduled traffic (measured in revenue passenger miles) declined 21.6% in the month from April 2019 levels. Capacity (measured in available seat miles) for scheduled service slid 0.6% from April 2019 reading.
With the traffic decline outweighing capacity contraction, load factor (% of seats filled by passengers) in April contracted 17.2 points to 63.8% from the same month two years ago. For the total system (including scheduled service and fixed fee contract), Allegiant carried less passengers in April 2021, down 20.6% from the April 2019 levels.
However, with air-travel demand improving in the United States, particularly for leisure as more and more Americans get vaccinated, the picture grew rosier on a year-over-year basis. For scheduled service, load factor improved 44.5 points to 63.8% in April with the traffic surge (up 2,470.4%) outpacing capacity expansion. Departures increased 763.9%. With oil prices shooting up, fuel cost per gallon at Allegiant is naturally on the rise. The metric, which was $1.86 in March, is estimated to have risen to $1.90 in April.
Apart from its traffic numbers, Allegiant was in news recently when it reported first-quarter 2021 results. Alike its fellow airlines Southwest Airlines (LUV - Free Report) , JetBlue Airways (JBLU - Free Report) and Spirit Airlines (SAVE - Free Report) , the carrier incurred a loss due to passenger revenue weakness.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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