Air-travel demand continues to trend far below the year-ago levels despite showing signs of recent recovery. Due to this downside, Allegiant Travel Company’s ALGT traffic, measured in revenue passenger miles, decreased 29% year over year in October for scheduled service.To compensate for the year-over-year weakness in demand, this Las Vegas, NV-based carrier is trimming capacity. Consequently, last month, capacity (measured in available seat miles) contracted 6.4%. With traffic declining more than the extent of capacity reduction, load factor (% of seats filled by passengers) fell 20 points year over year to 63.1%. Allegiant Travel’s monthly departures for scheduled service dropped 9.5%.Moreover, the number of passengers transported by Allegiant Travel in October for scheduled service plunged 30.1%. For the total system (scheduled service and fixed fee contract) passengers transported decreased 30.8% year over year due to coronavirus woes. Moreover, the systemwide average fuel price per gallon in the month was estimated to be $1.29 per gallon.Due to pandemic crisis, shares of Allegiant Travel have dropped 11.2% since the beginning of March compared with the industry’s 9.7% fall.Zacks Rank & Key PicksAllegiant Travel carries a Zacks Rank #3 (Hold), currently. Some better-ranked stocks in the broader Transportation sector are FedEx Corporation FDX, Landstar System LSTR and Expeditors International of Washington EXPD. While FedEx sports a Zacks Rank #1 (Strong Buy), both Landstar and Expeditors carry a Zacks Rank #2 (Buy), presently. You can see the complete list of today’s Zacks #1 Rank stocks here.Shares of FedEx, Landstar and Expeditors have gained 77.1%, 14% and 13.6% so far this year, respectively.Just Released: Zacks’ 7 Best Stocks for TodayExperts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.These 7 were selected because of their superior potential for immediate breakout.See these time-sensitive tickers now >>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 FedEx Corporation (FDX): Free Stock Analysis Report Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis Report Allegiant Travel Company (ALGT): Free Stock Analysis Report Landstar System, Inc. (LSTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research