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Allegiant Travel Co operating profit up 72% in 3Q2012

25-Oct-2012 10:44 AM

Allegiant Travel Co revenue up 13% - financial highlights for three months ended 30-Sep-2012:

  • Total operating revenue: USD216.9 million, +13.2% year-on-year;
    • Ancillary: USD69.0 million, +30.7%;
  • Operating costs: USD188.1 million, +7.6%;
    • Fuel: USD89.9 million, +6.9%;
    • Labour: USD32.9 million, +11.3%;
  • Operating profit: USD28.7 million, +71.8%;
  • Net profit: USD16.9 million, +78.6%;
  • Passenger numbers: 1.7 million, +9.4%;
  • Load factor: 87.4%, -2.0 ppts;
  • Operating revenue per ASM: USD 11.86 cents, -1.3%;
  • Operating cost per ASM: USD 10.29 cents, -6.2%;
  • Cost per ASM excl fuel: USD 5.37 cents, -5.6%;
  • Average stage length: 860 miles, +1.8%;
  • Total debt: USD153.7 million, +5.2% when compared to period ended 31-Dec-2011;
  • Unrestricted cash: USD371.9 million, +16.4% when compared to period ended 31-Dec-2011;
  • 4Q2012 forecast:
    • Passenger revenue per ASM: -9% to -7% year-on-year;
    • Fixed fee and other revenue: USD9 million to USD11 million;
    • Number of MD-80s to be converted to 166 seats: 43 to 45;
    • Capacity (ASMs): +17% to +21%;
    • Cost per ASM excl fuel: -3% to -1%;
  • FY2012 forecast:
    • Cost per ASM excl fuel: -7% to -5%;
  • 1Q2013 forecast:

Allegiant Travel Co: "The third quarter is typically our weakest quarter of the year, and yet we were able to produce the highest third quarter earnings per share in the company`s history. This is particularly noteworthy to have done this in a quarter with the average oil price at USD92 per barrel and in a demand environment that has been slightly weaker than historical norms," Maurice Gallagher, chairman and CEO. Source: Company statement, 24-Oct-2012.