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The Zacks Analyst Blog Highlights Allegiant Travel Company, Delta Air Lines, Hawaiian Holdings and United Airlines
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For Immediate Release
Chicago, IL – March 27, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Allegiant Travel Company (ALGT - Free Report) , Delta Air Lines (DAL - Free Report) , Hawaiian Holdings (HA - Free Report) and United Airlines (UAL - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Airline Stock Roundup: Traffic & Expansion Data
In the past week, Allegiant Travel Company reported impressive traffic numbers for the month of February, driven by a buoyant air-travel demand scenario. Delta Air Lines was also in the news, courtesy of its expansion-related update.
Hawaiian Holdings’ subsidiary, Hawaiian Airlines, has decided to adjust its schedule to match the anticipated demand swell during summer. Meanwhile, United Airlines and Archer Aviation announced the first air taxi route in Chicago.
1 In February 2023, Allegiant carried 1.24 million passengers in scheduled service, up 13% from the February 2022 actuals. Revenue passenger miles (a measure of traffic) and available seat miles (a measure of capacity) increased 12.2% and 2.3%, respectively, from the year-ago levels. Load factor (percentage of seats filled by passengers) increased 7.6 points to 85.4% in February 2023, as the traffic increase was greater than the capacity expansion. Moreover, scheduled departures increased 3.1% year over year.
In February 2023, Allegiant, currently a Zacks Rank #3 (Hold) stock, carried 13.1% more passengers (systemwide) than in February 2022. Capacity increased 2.3% from the year-ago month’s reading. Departures (systemwide) improved 3.2% from the February 2022 actuals. The estimated average fuel cost per gallon for February was $3.53 (systemwide). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
2. Delta Air Lines’ management has decided to add new destinations to its network to take advantage of the upbeat air-travel-demand scenario. With an eye on the upcoming holiday season, Delta has decided to add seasonal routes from its hubs at Atlanta, New York-JFK, Detroit and Minneapolis to multiple tropical destinations. All flights will operate seasonally from Dec 16 through Jan 7, 2024.
Delta will add 20% more seats to its Latin America network in 2023 than the previous year. The massive expansion is aimed at making DAL’s Latin America schedule for 2023 holidays the largest in its history. As part of the expansion, DAL intends to widen the scope of its service to Mexico, Central America and the Caribbean. The company aims to cement its position as the leading carrier to Latin America from Atlanta and Detroit through its move to increase the frequency of its flights to popular destinations like Aruba and Cancun, Mexico. All flights will be equipped with modern facilities like free and fast Wi-Fi.
3. Hawaiian Airlines’ management has decided to increase weekly frequencies of its seasonal flights between Honolulu and Austin, Boston, Las Vegas and Pago Pago. HA also intends to add a fourth daily flight between Honolulu and Los Angeles. That flight will operate twice a week. "We're encouraged by the robust demand for travel to Hawaii this summer season and these increases signal a healthy return in our key North America markets," Brent Overbeek, senior vice president – chief revenue officer of Hawaiian Airlines said.
4 In a bid to reduce the commute time in Chicago, UAL and Archer Aviation have joined forces to start air taxi service in the city. Following the commencement of the service, expected in 2025, the time to travel from Chicago O’Hare airport to the city, which currently takes more than an hour during peak time, will be just 10 minutes. Per Michael Leskinen, president of United Airlines Ventures, " Both Archer and United are committed to decarbonizing air travel and leveraging innovative technologies to deliver on the promise of the electrification of the aviation industry."
Performance
Most airline stocks have traded in the red over the last five trading days. The NYSE ARCA Airline Index has decreased 3% to $54.15. Over the course of the past six months, the NYSE ARCA Airline Index has increased 7.5%.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Allegiant Travel Company, Delta Air Lines, Hawaiian Holdings and United Airlines
For Immediate Release
Chicago, IL – March 27, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Allegiant Travel Company (ALGT - Free Report) , Delta Air Lines (DAL - Free Report) , Hawaiian Holdings (HA - Free Report) and United Airlines (UAL - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Airline Stock Roundup: Traffic & Expansion Data
In the past week, Allegiant Travel Company reported impressive traffic numbers for the month of February, driven by a buoyant air-travel demand scenario. Delta Air Lines was also in the news, courtesy of its expansion-related update.
Hawaiian Holdings’ subsidiary, Hawaiian Airlines, has decided to adjust its schedule to match the anticipated demand swell during summer. Meanwhile, United Airlines and Archer Aviation announced the first air taxi route in Chicago.
Read the last Airline roundup here
Recap of the Latest Top Stories
1 In February 2023, Allegiant carried 1.24 million passengers in scheduled service, up 13% from the February 2022 actuals. Revenue passenger miles (a measure of traffic) and available seat miles (a measure of capacity) increased 12.2% and 2.3%, respectively, from the year-ago levels. Load factor (percentage of seats filled by passengers) increased 7.6 points to 85.4% in February 2023, as the traffic increase was greater than the capacity expansion. Moreover, scheduled departures increased 3.1% year over year.
In February 2023, Allegiant, currently a Zacks Rank #3 (Hold) stock, carried 13.1% more passengers (systemwide) than in February 2022. Capacity increased 2.3% from the year-ago month’s reading. Departures (systemwide) improved 3.2% from the February 2022 actuals. The estimated average fuel cost per gallon for February was $3.53 (systemwide). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
2. Delta Air Lines’ management has decided to add new destinations to its network to take advantage of the upbeat air-travel-demand scenario. With an eye on the upcoming holiday season, Delta has decided to add seasonal routes from its hubs at Atlanta, New York-JFK, Detroit and Minneapolis to multiple tropical destinations. All flights will operate seasonally from Dec 16 through Jan 7, 2024.
Delta will add 20% more seats to its Latin America network in 2023 than the previous year. The massive expansion is aimed at making DAL’s Latin America schedule for 2023 holidays the largest in its history. As part of the expansion, DAL intends to widen the scope of its service to Mexico, Central America and the Caribbean. The company aims to cement its position as the leading carrier to Latin America from Atlanta and Detroit through its move to increase the frequency of its flights to popular destinations like Aruba and Cancun, Mexico. All flights will be equipped with modern facilities like free and fast Wi-Fi.
3. Hawaiian Airlines’ management has decided to increase weekly frequencies of its seasonal flights between Honolulu and Austin, Boston, Las Vegas and Pago Pago. HA also intends to add a fourth daily flight between Honolulu and Los Angeles. That flight will operate twice a week. "We're encouraged by the robust demand for travel to Hawaii this summer season and these increases signal a healthy return in our key North America markets," Brent Overbeek, senior vice president – chief revenue officer of Hawaiian Airlines said.
4 In a bid to reduce the commute time in Chicago, UAL and Archer Aviation have joined forces to start air taxi service in the city. Following the commencement of the service, expected in 2025, the time to travel from Chicago O’Hare airport to the city, which currently takes more than an hour during peak time, will be just 10 minutes. Per Michael Leskinen, president of United Airlines Ventures, " Both Archer and United are committed to decarbonizing air travel and leveraging innovative technologies to deliver on the promise of the electrification of the aviation industry."
Performance
Most airline stocks have traded in the red over the last five trading days. The NYSE ARCA Airline Index has decreased 3% to $54.15. Over the course of the past six months, the NYSE ARCA Airline Index has increased 7.5%.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.