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More profits for Allegiant, 21.4% operating margin, but investors not impressed

US airline reporting season started on a sour note, with Allegiant Travel Company reporting a 19.8% drop in net income to USD22.6 million in the three months ended 31-Mar-2010, despite a 19.4% rise in total operating revenues to USD169.6 million. The airline’s share price was savaged, slumping 9.5% on 20-Apr-2010, as investors were clearly hoping for more and are becoming concerned about the vulnerability of the airline’s business model to higher oil prices.

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