Allegiant Travel reports preliminary October traffic down 15.7% y/y

Reports October: Passengers down 17%; Capacity down 10.2%; Load Factor down 5.2 pts; Departures down 10.7%. All metrics reported on a year-over-year basis. “As observed below and consistent with commentary from our third quarter earnings call, hurricanes Helene and Milton had an outsized impact on our business,” stated Drew Wells, Chief Commercial Officer of Allegiant Travel (ALGT) Company. “We canceled nearly 1,000 flights between late September and early January, with approximately two-thirds of those cancelations occurring during the month of October. We are encouraged by booking trends following the election, which suggest a faster-than-expected recovery for the impacted areas. We will continue monitoring these trends with the intent of updating guidance, as needed.”