Allegiant Travel Cuts Q4 TRASM Forecast; Declares Special Cash Dividend

(RTTNews) - Allegiant Travel Co. (ALGT) reported preliminary passenger traffic results for November 2015. Total System Load factor for the month declined 3.3 percent to 81.1% from 84.4% in the year-ago period. Total System Revenue passenger miles improved 21.2%, while Available seat miles increased 26.2%.

Scheduled Service Load factor for November declined to 82.5% from 85.6% in the same period last year. Scheduled Service Revenue passenger miles was up 21.7%, while Available seat miles rose 26.3%.

Allegiant noted that its November TRASM underperformed its expectation that was set in October. The company also lowered its fourth quarter TRASM forecast to between negative 11 percent and negative 10 percent, from previous forecast of negative 10.5 percent to negative 8.5 percent.

In a separate press release, Allegiant also announced that it has declared a special cash dividend of $1.65 per share on its outstanding shares of common stock. This dividend will be payable on January 8, 2016 to stockholders of record at the close of business on December 18, 2015.