Allegiant Travel reports November 2024 total system passengers down 6.5%

Reports November scheduled service passengers down 6.9%, available seat miles, or ASM, down 1.7% at 1.11M and scheduled service load factor down 3.6 points to 80.2%. All metrics reported on a year-over-year basis. “As observed below and consistent with commentary from our Q3 earnings call, hurricanes Helene and Milton had an outsized impact on our business,” stated Drew Wells, Chief Commercial Officer of Allegiant Travel (ALGT) Company. “Booking trends following the election continue to outpace our initial expectations,” stated Drew Wells, Chief Commercial Officer. “Demand recovery to hurricane-impacted destinations has been faster than expected, with demand to most impacted regions returning to normal. Additionally, close-in holiday demand during November exceeded our expectations with TRASM performing on par with the prior year during the week of Thanksgiving. December capacity is expected to be up 17% year-over-year, and we are encouraged by the strength in bookings for the December holiday period, which are outpacing our initial expectations. Based on recent booking trends, we now expect Q4 TRASM to be down approximately 1.5% year-over-year on capacity growth of 1.8% for the quarter, versus our initial TRASM expectation of down 4.5% year-over-year.”