Allegiant Travel $ALGT Stock Turnaround Play Candidate Off Double Bottom, Uptrend Channel

  • Post category:Stock Trading
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Allegiant Travel $ALGT stock has put in a confirmed Double Bottom and is running within an uptrend channel as of January 22, 2023. The stock is in a technical downtrend but we expect that to be upgraded soon.

Allegiant Travel stock chart on January 22 2023 with a Double Bottom chart pattern and a bullish MACD and money flow
Allegiant Travel stock chart on January 22 2023 with a Double Bottom chart pattern and a bullish MACD and money flow

Allegiant Travel reports FY22 total system passengers up 23% YoY

On January 19, 2023, Allegiant Travel reported preliminary passenger traffic results for FY22. Total system passengers were up 23.2%, ASMs were up 5.3%, departures were down 0.9%, vs. FY 2021. Scheduled service passengers were up 23.1%, ASMs were up 5.2%, departures were down 0.8%, ASMs were down 5.2% vs. FY 2021.

Allegiant Travel reported Q4 total system passengers were up 6.2%, ASMs were down 1.9%, departures were down 4.1%, vs. Q4 2021. Scheduled service passengers were up 6.1%, ASMs were down 2.2%, departures were down 4.4%, ASMs were down 2.2% vs. Q4 2021.

The company reported December total system passengers were up 10.1%, ASMs were up 2.6%, departures were up 2.3%, vs. December 2021. Scheduled service passengers were up 9.9%, ASMs were up 10.0%, departures were up 2.3%, ASMs were up 2.3% vs. December 2021.

Allegiant, based in Las Vegas, is an integrated travel company with an airline at its core that aims to connect customers with the things that matter most to them—people, places, and experiences. With all-nonstop flights and industry-low average fares, Allegiant Air has been connecting visitors from small-to-medium cities to top tourist destinations since 1999. With base fares that are less than half the price of the typical domestic round-trip ticket, Allegiant’s fleet currently serves communities across the country.

2023 will bring more destination travel, says Travel and Leisure Company CEO

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