![]() With the traffic plunge outweighing capacity contraction, the load factor in May dropped 0.7 points to 85.9% from the year-ago period’s levels. ![]() Capacity for scheduled service decreased 2.2% from the May 2022 reading. On a separate note, ALGT’s scheduled traffic (measured in revenue passenger miles) dropped 3% in May 2023 from the year-ago levels. ![]() The voting procedure is expected to take place later this month. However, the five-year deal will be effective only if it is successfully ratified. The provisional deal inked by ALGT and TWU includes significant increases to wages, improvements to retirement benefits and other perks for flight attendants. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 86.1% from 85.7% in May 2022.ģ. Copa Holdings’ RPK and available seat kilometers (a measure of capacity) increased 15.8% and 15.3%, respectively, on a year-over-year basis at Copa Holdings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Delta currently carries a Zacks Rank #3 (Hold). This resumption is indicative of Delta's progress on its three-year financial plan (which includes debt repayment of more than $10 billion in the last two years). The restrictions under the CARES Act prohibited airline companies from paying dividends or buying back shares till Sep 30, 2022. This Atlanta-based carrier had to suspend its dividend payout during the COVID-19 pandemic. The renewed dividend will be paid on Aug 7, 2023, to all shareholders of record as of Jul 17, 2023. Delta Air Lines’ board of directors approved a quarterly dividend payment of 10 cents per share. Recap of the Past Week’s Most Important Storiesġ. More May traffic-related updates were discussed in the previous week’s writeup. An expansion-related update was also made available from Alaska Airlines, the wholly-owned subsidiary of Alaska Air Group ALK in the past week.Ĭopa Holdings CPA reported a double-digit increase in revenue passenger kilometers or RPK (a measure of traffic) for the month of May, driven by upbeat air travel demand. In the past week, investors were in for some good news as Delta Air Lines’ DAL management announced the reinstatement of its practice of paying quarterly dividends after a COVID-induced hiatus.Īllegiant Travel Company ALGT was also in the news following a pay-related tentative deal inked by the carrier with the Transport Workers Union or TWU, which represents nearly 1,900 flight attendants of ALGT.
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