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Ryanair Holdings PLC (RYAAY) - free report >>
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Ryanair Holdings PLC (RYAAY) - free report >>
Air Lease Corporation (AL) - free report >>
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Allegiant (ALGT) Traffic and Load Factor Plummet In May
Allegiant Travel Company (ALGT - Free Report) reported bland traffic numbers for May, primarily due to weak air travel demand stemming from the COVID-19 pandemic. Traffic for scheduled service, measured in revenue passenger miles (RPMs), plunged 70.1% on a year-over-year basis to 32.7 million. Scheduled capacity, calculated in available seat miles (ASMs), also fell 47.2% to 690.6 million in the month.
Since the decline in traffic exceeded capacity reduction, load factor (percentage of seats filled with passengers) plunged 3630 basis points year over year to 47.3%.
The number of departures for scheduled service declined 48.8% on a year-over-year basis. However, average stage length (average distance flown per aircraft departure) climbed 1.5% to 856 miles in the same month. For the total system (including scheduled service and fixed fee contract), number of departures fell 49.1%, while the average stage length inched up 1.3% to 855 miles.
Allegiant Travel Company Price
Allegiant Travel Company price | Allegiant Travel Company Quote
Zacks Ranks & Key Picks
Allegiant currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the Zacks Transportation sector are Air Lease Corporation (AL - Free Report) , Ryanair Holdings plc (RYAAY - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) . All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings (three to five years) growth rate for Air Lease, Ryanair Holdings and Teekay Tankers is estimated at 3.1%, 20.5% and 3%, respectively.
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