Las Vegas air traffic finally up

Well, hooray.

In November, for the first time in 21 months, Las Vegas counted a month of increased year-to-year air passenger counts. The month’s 0.1 percent uptick in fliers at McCarran International Airport is small, yes. But slightly up is better than down, right?

In November 3,234,705 passengers arrived in Las Vegas, up from 3,232,985 a year earlier. November’s rise was the first year-over-year monthly rise since February 2008, which had an extra day as a leap year, and only the second since October 2007.

Also on the upside, two of McCarran’s top five carriers increased their flier counts in November. Southwest, the biggest carrier, ferried 1,232,772 passengers, 9.3 percent more than 1,127,564 a year earlier. American Airlines carried 179,765 passengers, up 5.4 percent from 170,610 a year earlier.

But maybe we shouldn’t cue the confetti. McCarran’s year-to-date flier count, 37.3 million, is down 8.7 percent from 40.9 million a year ago.

“A slight gain is better than no gain and it’s certainly better than a loss,” McCarran spokesman Chris Jones said, noting that November was the first full month of daily flights from British Airways.

“However,” he added, “it’s one month’s data. And one month of flat figures should not be misconstrued as a trend.”

Analysts see two trends behind Southwest’s local surge. Bijan Vasigh, managing director at Ormond Beach, Fla.-based Aviation Consulting Group, said by diversifying its customer base to serve both leisure and business travelers, Southwest has outperformed its rivals even during the downturn.

And, suggested Bob Mann, an airline analyst for Port Washington, N.Y.-based R.W. Mann & Co., Southwest may be collecting passengers that might have flown US Airways.

Many carriers began cutting service to Las Vegas in September 2008 as the economy flagged and fuel costs rose, but US Airways has cut the most. The Tempe, Ariz., carrier, which averaged 140 flights to Las Vegas a day in 2005, in November said it would cut its schedule of 64 daily departures to 36 by February.

Nevertheless, Mann said, demand remains strong for Las Vegas.

“Las Vegas has done a fabulous job of marketing itself, not just as a place for gaming, but as a place for meetings and business,” he said. “I’d expect the domestic mix for traffic to change over time, with conventions and meetings probably becoming a bigger factor. But even if a meeting is the purpose of a trip, that doesn’t mean people won’t find their way into gaming side of the house.”

Mann said airline rates may be at the cusp, or slightly past the cusp, of recovery. Vasigh said he was encouraged by signs of economic stabilization and expects airline capacity to return to prerecession levels late in 2010.

But Mann said there’s a huge disparity between what happens in the mainstream marketplace and what happens on Wall Street. For airlines to fully recover and thrive again, he said, unemployment, which was 12.3 percent statewide in November, must decrease and job creation must increase.

“What the airlines need to feel good about the market and put more capacity into the market is employed people who have discretionary income to spend on airfares, specifically for vacation travel,” he said. “And they need businesses to earn good profits and send people on business trips, because that’s where network carriers tend to focus.

“Given what we’re seeing with employment, recovery for American business may be a long way off,” he added. “We’re not seeing job creation week to week or month to month, we’re seeing job losses. And that, unfortunately, is not a good sign.”

Contact reporter Matthew Crowley at mcrowley@reviewjournal.com or 702-383-0304.

ad-high_impact_4
Business
Nevada's venture capital money doesn't stay in state
Zach Miles, associate vice president for economic development for UNLV, said there’s venture money in Southern Nevada, “but trying to find the right groups to tap into for that money is different.” According to a 2017 report from the Kauffman Foundation, Las Vegas ranked number 34 out of 40 metropolitan areas for growth entrepreneurship, a metric of how much startups grow. With a lack of growing startups in Las Vegas, investment money is being sent outside of state borders. The southwest region of the U.S. received $386 million in funding in the second quarter, with about $25.2 million in Nevada. The San Francisco area alone received about $5.6 billion. (source: CB Insights)
Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
Project billed as one of the world's largest marijuana dispensaries plans to open Nov. 1
Planet 13 co-CEO Larry Scheffler talks about what to expect from the new marijuana dispensary, Thursday, July 19, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Oasis Biotech opens in Las Vegas
Brock Leach, chief operating officer of Oasis Biotech, discusses the new plant factory at its grand opening on July 18. (Bailey Schulz/Las Vegas Review-Journal)
UNLV Tech Park innovation building breaks ground
Construction on the first innovation building at the UNLV Tech Park is underway. (Bailey Schulz/Las Vegas Review-Journal)
Caesars Forum Meeting Center
Caesars broke ground Monday on its $375 million Caesars Forum Meeting Center (convention center) just east of the High Roller observation wheel. (Caesars Entertainment)
Technology reshapes the pawn shop industry
Devin Battersby attaches a black-colored device to the back of her iPhone and snaps several of the inside and outside of a Louis Vuitton wallet. The device, installed with artificial intelligence capabilities, analyzes the images using a patented microscopic technology. Within a few minutes, Battersby receives an answer on her app. The designer item is authentic.
Recreational marijuana has been legal in Nevada for one year
Exhale Nevada CEO Pete Findley talks about the one year anniversary of the legalization of recreational marijuana in Nevada. (K.M. Cannon/Las Vegas Review-Journal)
Young adults aren't saving for retirement
Financial advisors talk about saving trends among young adults. (Bailey Schulz/Las Vegas Review-Journal)
President Trump’s tariffs could raise costs for real estate developers, analysts say
President Donald Trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in Las Vegas and other cities could get hit hard.
Las Vegas business and tariffs
Barry Yost, co-owner of Precision Tube Laser, LLC, places a metal pipe into the TruLaser Tube 5000 laser cutting machine on Wednesday, June 20, 2018, in Las Vegas. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Nevada Film Office Connects Businesses To Producers
The director of the Nevada Film Office discusses its revamped locations database and how it will affect local businesses. (Bailey Schulz/Las Vegas Review-Journal)
Opendoor isn't the typical house flipping company
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
The Venetian gondoliers sing Italian songs
Gondolier Marciano sings a the classic Italian song "Volare" as he leads guests through the canals of The Venetian in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal)
Building In Logandale
Texas homebuilder D.R. Horton bought 43 lots in rural Logandale. (Eli Segall/Las Vegas Review-Journal)
Indoor farming in Southern Nevada
Experts discuss Nevada's indoor farming industry. (Bailey Schulz/Las Vegas Review-Journal)
Former Fontainebleau could have become a Waldorf Astoria
Months after developer Steve Witkoff bought the Fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a Marriott-managed resort called The Drew. But if Richard “Boz” Bosworth’s plans didn’t fall through, the north Las Vegas Strip tower could have become a Waldorf Astoria with several floors of timeshare units. (Eli Segall/Las Vegas Review-Journal)
LVCVA CEO Rossi Ralenkotter announces plans to retire
Rossi Ralenkotter, CEO of the LVCVA, on Tuesday confirmed a Las Vegas Review-Journal report that he is preparing to retire. Richard N. Velotta/ Las Vegas Review-Journal
Cousins Maine Lobster to open inside 2 Las Vegas Smith’s stores
Cousins Maine Lobster food truck company will open inside Las Vegas’ two newest Smith’s at Skye Canyon Park Drive and U.S. Highway 95, and at Warm Springs Road and Durango Drive. Cousins currently sells outside some Las Vegas Smith’s stores and at Fremont Street and Las Vegas Boulevard. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas home prices to continue to rise, expert says
Lawrence Yun, chief economist at the National Association of Realtors, gives homebuyers a pulse on the Las Vegas housing market. (Eli Segall/Las Vegas Review-Journal)
NV Energy announces clean energy investment
The company is planning to add six solar projects in Nevada, along with the state's first major battery energy storage capacity. Bailey Schulz/Las Vegas Review-Journal
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Nevada has its first cybersecurity apprenticeship program
The Learning Center education company in Las Vegas has launched the first apprenticeship program for cybersecurity in Nevada. It was approved by the State Apprenticeship Council on May 15. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
TOP NEWS
News Headlines
Add Event
Home Front Page Footer Listing
Circular
You May Like

You May Like