LAS VEGAS, Oct. 22 –Reporting 969,844 passengers overall compared to the same month last year, Allegiant Travel Company (ALGT, Financial) reported a 1.9% drop in passenger count for September. While available seat miles declined 3.4%, the revenue passenger miles of the airline fell 2.7%. Allegiant's load factor, however, slightly rose 0.5% percentage point to reach 83.3%.
During the month, departures for its planned services dropped 2.2%. Allegiant reported a 0.9% decline in passengers to 4,195,572 for Q3, while revenue passenger miles dropped 1.1% over the period. On Tuesday pre-market, the company's stock dropped 0.41% to $63.12 on the announcement. Moreover, it's important to note that Allegiant, like its peers, continues to navigate the obstacles of changing travel demand and capacity changes.
Nonetheless, the stock remains an excellent condition at this time, reporting a 38% increase in value. However, on a YTD basis, the stock is trading in the negative at 24%, behind the S&P 500's superb gains of upwards of 22%.
