Allegiant Travel Co. continued to grow its passenger counts in July even as a key revenues measure declined again.
The Las Vegas-based company’s Allegiant Air carried 758,000 passengers last month, a 7.9 percent gain from a year ago, according to the traffic report released on Monday. The number of miles each seat flew with a paying passenger rose 15.2 percent to 747.1 million.
Because the amount of flying grew at a slightly slower pace than the revenue miles, the occupancy level, called the load factor by airlines, rose 0.9 points to 91.6 percent.
As has been true in recent months, scheduled service grew at faster clip but the systemwide numbers were depressed by the cuts in Allegiant’s charter business.
The company estimated that total revenue from each seat mile, including fares and all the extras such as luggage fees, would drop 2 to 2.4 percent in July. Although this benchmark sparked a sell-off in the stock a month ago when it came below Wall Street expectations, the reaction on Monday was muted. The stock was down 1 cent to $98.38 a share in after-hours trading.