We started this position Monday, and I expect the chart to improve once the love for all things commodities subsides. So far it is holding the 50 day moving average (close enough) - once it rebounds (if it rebounds) we'll add more to what we started. Until then we're remaining patient unless it breaks below $38 (which is our cut losses area)...
- Allegiant Air, which ferries vacationers from small towns to resort areas such as Las Vegas and Florida, reported Tuesday that December traffic rose 9.6 percent from a year ago, bucking an industry trend.
- Allegiant said paying passengers flew nearly 343 million miles in December, up from 313 million miles a year ago.
- The Las Vegas-based airline said it carried 379,907 passengers in December, up 12.6 percent from the 337,289 it hauled a year earlier.
- Capacity measured in available seats times miles flown fell 2.6 percent.
- Higher traffic on less capacity boosted plane occupancy to an average 88.7 percent from 78.9 percent a year earlier, the company said.
- For the year, traffic jumped 22.9 percent and capacity grew 13.5 percent. The airline carried 3.9 million passengers in 2008.
