LAS VEGAS - Allegiant Travel Company (NASDAQ:ALGT), the Las Vegas-based airline, has released its preliminary passenger traffic figures for January 2024, showing a small decrease in the number of passengers and revenue passenger miles compared to the same period last year.
The data indicates that Allegiant carried 1,176,117 passengers in scheduled service in January this year, a 2.3% decrease from the 1,203,241 passengers in January 2023. Revenue passenger miles also fell by 2.3% to 1,119,728,000. However, the airline increased its available seat miles by 0.6% to 1,387,038,000, leading to a load factor decline of 2.5 percentage points, from 83.2% in January 2023 to 80.7% in January 2024.
For the total system, which includes scheduled service and fixed fee contract, Allegiant reported a 2.0% year-over-year decline in passengers, from 1,207,121 in January 2023 to 1,182,748 in January 2024. The total available seat miles saw a slight increase of 1.5% to 1,423,553,000.
The average stage length, which is the average non-stop distance flown per departure, saw a minor increase in both scheduled service and total system, suggesting a slight expansion in the distance of flights offered.
Allegiant also provided a preliminary estimate of its average fuel cost per gallon for January 2024, which was $2.88.
Allegiant has been known for connecting travelers from small-to-medium cities to vacation destinations through all-nonstop flights and low average fares since 1999. Despite the reported decrease in passenger numbers, the company continues to serve communities across the nation, offering base airfares that are claimed to be less than half the cost of the average domestic roundtrip ticket.
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