Allegiant first quarter profit down by a quarter

Allegiant Travel Company financial highlights for the three months ended 31-Mar-2011:

• Operating revenue: USD193.2 million, +13.9% year-on-year;
  • Ancillary: USD52.3 million, +9.9%;
• Operating costs: USD165.4 million, +24.0%;
  • Fuel: USD79.2 million, +38.0%;
  • Labour: USD30.9 million, +19.2%;
• Operating profit: USD27.8 million, -23.2%;
• Net profit: USD17.2 million, -24.1%;
• Passenger numbers: 1.5 million, +7.2%;
• Load factor: 89.6%, +1.4 ppt;
  • Scheduled: 92.9%, +1.2 ppt;
• Scheduled average fare: USD125.22, +7.5%;
• Operating revenue per ASM: USD 11.94 cents, +9.6%;
  • Scheduled: USD 12.34 cents, +11.4%;
• Scheduled passenger revenue per ASM: USD 8.77 cents, +13.3%;
• Operating cost per ASM: USD 10.22 cents, +19.3%;
• Cost per ASM excl fuel: USD 5.33 cents, +9.2%;
• Average sector length: 885 miles, -1.1%;
• 2Q2011 forecast:
  • Capacity (ASMs): -4% to stable;
    • Scheduled: -6% to -2%;
  • Cost per ASM excl fuel: +23% to +25%;
• 3Q2011 forecast:
  • Capacity (ASMs): -4% to stable;
    • Scheduled: -6% to -2%;
• FY2011 forecast:
  • Cost per ASM excl fuel: +10% to +12%.

Republic Airways Holdings has amended its agreement with Delta Air Lines to supply aircraft to serve routes for, providing six additional E-170 regional jets. The additional aircraft are expected to be placed into service between Jul-2011 and Oct-2011 and will have a term of six years from the in-service date for Delta.

LAN CFO Alejandro de la Fuente stated he expects global oil prices to remain high but stated a surge in Chile's peso to a three year high against the US dollar has no real impact on the company. LAN expects passenger traffic to increase by between 16% and 18% in 2011, down from an earlier growth forecast of 20-22%.

Selected Americas airline share price movements (% change): 29-Apr-2011