Profits, revenues rise at Allegiant Travel
Buoyed by an earlier Easter holiday and lower maintenance bills, Allegiant Travel Co.’s revenues and profits jumped during the first quarter.
The $273 million in revenues for the Las Vegas-based airline marked a
14.8 percent gain from the same period last year, with the Easter holiday falling in March instead of April. Because Allegiant caters almost entirely to bargain-hunting leisure passengers, this kind of timing change can affect results.
The company reported a 39 percent jump in the revenues collected from things not included in the basic fare, such as seat assignments. The average passenger now pays $97.54 for the seat itself and $41.64 for all the extras.
Net income jumped 46.7 percent to $31.8 million, $1.65 a share. Maintenance costs were lower than a year ago, but the company expects that line item to rise in the current quarter. The profits beat not only the estimate of 13 industry analysts of $1.44 a share but also the most optimistic estimate of $1.57 a share.
In Thursday trading, shares of Allegiant fell $1.77, 1.92 percent, to close at $90.46 on the Nasdaq.