Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Ryanair Holdings PLC (RYAAY) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ryanair Holdings PLC (RYAAY) - $25 value - yours FREE >>
Image: Bigstock
Allegiant (ALGT) February Traffic Increases From 2023 Levels
Allegiant Travel Company (ALGT - Free Report) reported traffic numbers for February 2024.
Scheduled traffic (measured in revenue passenger miles) grew 0.4% from February 2023 levels. Capacity (measured in available seat miles) for scheduled service improved 2.1% from February 2023 reading. The load factor (percentage of seats filled by passengers) in February 2024 came in at 84%.
Total departures (scheduled services) grew 0.2% in February 2024 from its year-ago levels. Moreover, its average stage length (miles) improved 1.3%.
For the total system (including scheduled service and fixed fee contract), Allegiant carried 0.3% more passengers in February 2024 from the year-ago period’s level.
Fuel price per gallon in February is estimated to have been $3.16. For first-quarter 2024, the estimated average fuel cost per gallon - system - guidance is $3.02.
ALGT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Given the buoyant traffic scenario, ALGT is not the only airline to report impressive traffic numbers for February.
Copa Holdings, S.A.(CPA - Free Report) reported solid traffic numbers for February 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in February on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In February, available seat miles (a measure of capacity) increased 17% year over year. Revenue passenger miles increased 17.5%. With traffic growth outpacing capacity expansion, the load factor improved to 86.3% from 85.9% in February 2023.
Ryanair Holdings(RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for February 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 11.10 million, implying that 5% more passengers flew than a year ago.
The load factor was high at 92% in February 2024. The reading was similar in the year-ago period.
RYAAY operated more than 63,000 flights in February 2024. However, more than 800 flights got canceled due to the Israel/Gaza conflict.