Allegiant Travel Co. (ALGT) announced on Friday a 15.7% decrease in revenue passenger miles for October 2024 compared to the same month the previous year. Additionally, the load factor experienced a decline of 5.2 percentage points.
Revenue passenger miles totaled 1.059 billion, down from 1.257 billion in October last year. The load factor for October stood at 78.5%, compared to 83.7% in the prior year. Total system capacity, measured in Available Seat Miles, reached 1.428 billion, reflecting a decrease of 9.2% from last year's 1.573 billion.
The Las Vegas-based airline also noted a 17% reduction in the number of passengers. However, the company anticipates an uptick in bookings in the aftermath of the election.
Currently, Allegiant's shares are trading at $76.18, marking a 0.14% increase on the Nasdaq.
