Advertisement
Canada markets closed

  • S&P/TSX

    21,728.55
    +14.01 (+0.06%)
     

  • S&P 500

    5,018.39
    -17.30 (-0.34%)
     

  • DOW

    37,903.29
    +87.37 (+0.23%)
     

  • CAD/USD

    0.7284
    +0.0023 (+0.31%)
     

  • CRUDE OIL

    79.13
    -2.80 (-3.42%)
     

  • Bitcoin CAD

    79,245.11
    -3,367.68 (-4.08%)
     

  • CMC Crypto 200

    1,202.07
    -136.99 (-10.23%)
     

  • GOLD FUTURES

    2,330.20
    +27.30 (+1.19%)
     

  • RUSSELL 2000

    1,980.23
    +6.32 (+0.32%)
     

  • 10-Yr Bond

    4.5950
    -0.0910 (-1.94%)
     

  • NASDAQ futures

    17,474.75
    -96.50 (-0.55%)
     

  • VOLATILITY

    15.39
    -0.26 (-1.66%)
     

  • FTSE

    8,121.24
    -22.89 (-0.28%)
     

  • NIKKEI 225

    38,274.05
    -131.61 (-0.34%)
     

  • CAD/EUR

    0.6796
    -0.0006 (-0.09%)
     

Allegiant's (ALGT) April 2021 Traffic Down 21.6% From April 2019

Zacks Equity Research
·2 min read

Allegiant Travel Company ALGT carried 20.4% less passengers under its scheduled service in April 2021 than its April 2019 (pre-pandemic) levels. Scheduled traffic (measured in revenue passenger miles) declined 21.6% in the month from April 2019 levels. Capacity (measured in available seat miles) for scheduled service slid 0.6% from April 2019 reading.

With the traffic decline outweighing capacity contraction, load factor (% of seats filled by passengers) in April contracted 17.2 points to 63.8% from the same month two years ago. For the total system (including scheduled service and fixed fee contract), Allegiant carried less passengers in April 2021, down 20.6% from the April 2019 levels.

However, with air-travel demand improving in the United States, particularly for leisure as more and more Americans get vaccinated, the picture grew rosier on a year-over-year basis. For scheduled service, load factor improved 44.5 points to 63.8% in April with the traffic surge (up 2,470.4%) outpacing capacity expansion. Departures increased 763.9%. With oil prices shooting up, fuel cost per gallon at Allegiant is naturally on the rise. The metric, which was $1.86 in March, is estimated to have risen to $1.90 in April.

Apart from its traffic numbers, Allegiant was in news recently when it reported first-quarter 2021 results. Alike its fellow airlines Southwest Airlines LUV, JetBlue Airways JBLU and Spirit Airlines SAVE, the carrier incurred a loss due to passenger revenue weakness.

Time to Invest in Legal Marijuana

If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%

You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

Today, Download Marijuana Moneymakers FREE >>



Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Southwest Airlines Co. (LUV) : Free Stock Analysis Report
 
JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report
 
Allegiant Travel Company (ALGT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research