Allegiant Air (ALGT) came with impressive numbers for October. The load factors were slightly down but we saw healthy increases in most areas as compared to 2008. Allegiant has one of the best load factors in the industry as they manage flight loads well.
Yet, we also looked deeper and saw that there is a rising number of non-paying passengers that are making up this load factor. That can be caused by a variety of factors including frequent fliers and crew transfers. It can also be caused by giveaways to fill up planes and goose load factors. But, for now, we will assume that is is the former.
PR Newswire: Allegiant Reports October 2009 Traffic
LAS VEGAS, Nov. 3 /PRNewswire-FirstCall/ — Allegiant Air, LLC, a wholly-owned subsidiary of Allegiant Travel Company (Nasdaq: ALGT), today reported preliminary passenger traffic results for October 2009.
Scheduled Service
– Oct. 2009 Oct. 2008 Change
Passengers 319,980 243,715 31.3%
Revenue passenger miles (000) 296,334 217,330 36.4%
Available seat miles (000) 330,902 238,305 38.9%
Load factor 89.6% 91.2% – 1.6 %
Departures 2,433 1,825 33.3%
Average stage length (miles) 907 874 3.8%
Total System*
– Oct. 2009 Oct. 2008 Change
Passengers 359,084 278,497 28.9%
Revenue passenger miles (000) 325,088 248,037 31.1%
Available seat miles (000) 381,156 284,122 34.2%
Load factor 85.3% 87.3% -2.0 %
Departures 3,079 2,351 31.0%
Average stage length (miles) 832 816 2.0%
*Total system includes scheduled service, fixed fee contract and non-revenue flying.
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Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.
