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Allegiant Travel Company reports 29th consecutive profitable quarter

20-Apr-2010 1:38 PM

Allegiant Travel Company, parent of Allegiant Air, reports (19-Apr-2010) the following financial/traffic highlights for the three months ended 31-Mar-2010:

  • Total operating revenue: USD169.6 million, +19.4% year-on-year;
    • Ancillary: USD47.6 million, +15.4%;
  • Total operating cost: USD133.4 million, +36.6%;
    • Fuel: USD57.4 million, +71.8%;
    • Labour: USD25.9 million, +10.6%;
  • Operating profit: USD36.2 million, -18.5%;
  • Net profit: USD22.6 million, -19.8%;
  • Passenger numbers: 1.4 million, +11.0%;
    • Scheduled: 1.4 million, +12.1%;
  • Load factor: 88.2%, +0.6 ppt;
    • Scheduled: 91.7%, +0.9 ppt;
  • Yield:
    • Scheduled: USD 8.44 cents, +3.2%;
  • Operating revenue per ASM: USD 10.89 cents, +2.1%;
    • Scheduled: USD 11.08 cents, +2.4%;
  • Operating cost per ASM: USD 8.57 cents, +16.9%;
  • Operating cost per ASM excl fuel: USD 4.88 cents, +1.2%;
  • Operating cost per passenger: USD92.80, +23.0%;
  • Operating cost per passenger excl fuel: USD52.89, +6.6%;
  • Total scheduled average fare: USD116.49, +7.3%;
    • Scheduled services: USD81.41, +9.2%;
    • Ancillary: USD35.08, +2.9%;
  • 2Q2010 Guidance:
    • Fixed fee revenue: Flat to slightly down year-on-year;
    • Operating cost per passenger excl fuel: USD53;
    • Capacity (ASMs): +8%;
  • 3Q2010 Guidance:
    • Capacity: +16%. [more]

Allegiant Travel Company: “This is the fifth year in a row where our first quarter operating profit percentage has been double digit. The 31% operating margin we achieved in the first quarter of 2009 benefited from the lowest quarterly fuel prices in over five years (USD1.47 per gallon). This year, in spite of a 48% increase in fuel price to USD2.17 per gallon, we nonetheless achieved a 21% operating margin … this quarter also marked our eighth consecutive quarter of load factors near or above 90%. Beginning in the second quarter of 2008, we increased our focus on filling aircraft to take advantage of strong ancillary revenues and reduce per-passenger costs by spreading costs, particularly fuel, over more passengers. This strategy has worked well and we plan to continue this approach indefinitely,” Maurice Gallagher Jr, Chairman and CEO. Source: Allegiant Travel Company, 19-Apr-2010.