Back to top

Image: Bigstock

Allegiant (ALGT) to Hire 184 Pilots to Meet Increased Demand

Read MoreHide Full Article

Allegiant Travel Company (ALGT - Free Report) plans to hire 184 pilots in the coming months as air-travel demand continues to improve with increased vaccinations and easing coronavirus-led restrictions in the United States.

The potential hiring indicates an approximate 19% increase from the company’s current team of around 1000 pilots. The airline stated that trainings for the first group of pilots will begin in July and run every few weeks through early next year.

Allegiant, carrying a Zacks Rank #3 (Hold), revealed that it was the first domestic carrier to restore capacity to pre-pandemic (2019) levels. Evidently, for the second quarter of 2021, the carrier expects capacity, measured in available seat miles or ASMs, to increase between 2% and 6% from the second-quarter 2019 figures. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The improvement in passenger numbers in the United States is mainly owing to increased demand for travel to leisure destinations and visits to friends and relatives. Allegiant is benefiting significantly from this recovery in air-travel demand as it focuses mostly on linking customers in small and medium sized cities to leisure destinations.

 

 

Apart from Allegiant, other U.S. carriers like Delta Air Lines (DAL - Free Report) , United Airlines (UAL - Free Report) and Southwest Airlines (LUV - Free Report) are hiring pilots to meet the increased demand.

While Southwest Airlines carries a Zacks Rank of 3, Delta and United Airlines carry a Zacks Rank #4 (Sell).

Zacks' Top Picks to Cash in on Artificial Intelligence

In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.

See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>