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Allegiant reports 32nd consecutive quarterly profit in 4Q2010

1-Feb-2011 12:40 PM

Allegiant revenue up 20% - financial highlights:

  • Three months ended 31-Dec-2010:
    • Operating revenue: USD162.0 million, +20.3% year-on-year;
      • Total ancillary: USD45.7 million, +23.9%;
    • Operating costs: USD141.2 million, +21.0%;
      • Fuel: USD61.6 million, +33.9%;
      • Labour: USD26.9 million, +30.2%;
    • Operating profit: USD20.9 million, +15.5%;
    • Net profit: USD12.4 million, +17.5%;
    • Passenger numbers: 1.4 million, +11.8%;
    • Load factor: 86.6%, -0.1 ppt;
    • Operating revenue per ASM: USD 11.24 cents, +8.2%;
    • Operating cost per ASM: USD 9.79 cents, +8.9%;
    • Operating cost per ASM excl fuel: USD 5.52 cents, +1.3%;
    • Average fare: USD116.86, +7.6%;
    • Average sector length: 867 miles, +0.9%;
  • 12 months ended 31-Dec-2010:
    • Operating revenue: USD663.6 million, +18.9%;
      • Total ancillary: USD194.0 million, +19.2%;
    • Operating costs: USD559.0 million, +28.3%;
      • Fuel: USD243.7 million, +47.7%;
      • Labour: USD108 million, +20.0%;
    • Operating profit: USD104.7 million, -14.4%;
    • Net profit: USD65.7 million, -13.9%;
    • Passenger numbers: 5.9 million, +10.8%;
    • Load factor: 87.5%, +0.1 ppt;
    • Operating revenue per ASM: USD 10.62 cents, +3.7%;
    • Operating cost per ASM: USD 8.95 cents, +11.9%;
    • Operating cost per ASM excl fuel: USD 5.05 cents, +1.6%;
    • Average fare: USD110.84, +7.1%;
    • Average sector length: 874 miles, +4.5%;
  • 1Q2011 forecast:
    • Capacity (ASM): +3% to +6%;
      • Scheduled: +3% to +6%;
  • 2Q2011 forecast:
    • Capacity (ASM): +1% to +5%;
      • Scheduled: stable to +4%. [more]

Allegiant Travel Company: "The revenue strength we experienced during the fourth quarter has continued into 2011 and while we are pleased with our revenue performance, we are wary of the accelerating climb in jet fuel prices we have seen in the last six weeks. Our capacity plan for the 1st half of 2011 had already reflected a slowing growth rate, but we have now reduced our growth even further, particularly for the second quarter. As we slow our growth rate, we will experience an increase in unit costs due in large part to lower fleet utilisation, but less capacity gives us the opportunity to increase fares and attempt to pass on the higher costs of fuel to our customers,” Andrew Levy, President. Source, Allegiant, 31-Jan-2011.