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Allegiant's (ALGT) April 2021 Traffic Down 21.6% From April 2019
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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.
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Allegiant's (ALGT) April 2021 Traffic Down 21.6% From April 2019
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.
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