Alaska Air Group, Inc. ALK reported disappointing traffic statistics for November. Traffic, measured in revenue passenger miles (RPMs), slipped 1.2% to 4.39 billion.On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) rose 2.3% to 5.4 billion. With traffic declining and capacity increasing, load factor or percentage of seats filled by passengers deteriorated 290 basis points (bps) to 81.2%.In the first 11 months of 2019, the carrier generated RPMs of 51.13 billion (up 1.9% year over year) and ASMs of 60.94 billion (up 1.8% year over year). With traffic growth outpacing capacity expansion, load factor inched up 10 basis points to 83.9%.Alaska Air Group, Inc. Price Alaska Air Group, Inc. price | Alaska Air Group, Inc. QuoteApart from capacity overexpansion woes (load factor declined in October as well), the carrier is witnessing some cost pressure due to escalating non-fuel unit costs. Evidently, non-fuel unit costs (excluding special items) grew 2.9% in the first nine months of 2019. The same is projected to rise 0.5% year over year in the fourth quarter (against the previous expectation of 1.2% decline). For 2019, non-fuel unit costs are predicted to increase nearly 2.2%.Zacks Rank & Key PicksAlaska Air Group carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Allegiant Travel Company ALGT, Ryanair Holdings plc RYAAY and Controladora Vuela Compania de Aviacion, S.A.B. de C.V. VLRS. While Allegiant and Ryanair sport a Zacks Rank #1 (Strong Buy), ControladoraVuela carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Shares of Allegiant, Ryanair and ControladoraVuela have rallied more than 74%, 22% and 97%, respectively, so far this year.Free: Zacks’ Single Best Stock Set to DoubleToday you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, SherazMian hand-picks one to have the most explosive upside of all.This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.See 5 Stocks Set to Double>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Allegiant Travel Company (ALGT): Free Stock Analysis Report Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research