Allegiant Travel rises after upbeat forecast for December capacity

Allegiant Travel

12/12/2024 15:28

(Updates)
    ** U.S.-based carrier Allegiant Travel's  ALGT.O  shares
rise 6.7% to $92 in morning trade 
    ** Company says December capacity expected to rise 17%
year-over-year
    ** "Booking trends following the election continue to
outpace our initial expectations," company says
    ** Allegiant adds that transaction during Q4 to sell
underutilized CFM engines resulted in $15 mln gain
    ** Company expects Q4 total revenue per available seat mile
(TRASM) to be down 1.5% year-over-year
    ** Two of 14 brokerages rate the stock "buy" or higher, 11
"hold" and 1 "sell"; median PT $75 - LSEG data
    ** As of last close, stock up 5% YTD

 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))