Allegiant (ALGT) – October YoY Comps Are Strong

November 4, 2009 10:13 am

AllegiantAirLogoAllegiant 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.

Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.

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