Allegiant operating profit slides as costs jump 24% in 4Q2009

Allegiant revenue up 10% - financial/traffic highlights:

• Three months ended 31-Dec-2009:
  • Total operating revenue: USD134.7 million, +10.0% year-on-year;
    • Total ancillary: USD36.9 million, +19.8%;
    • Fixed fee contract: USD12.3 million, +7.5%;
  • Total operating cost: USD116.7 million, +24.5%;
    • Fuel: USD46.0 million, +23.3%;
    • Labour: USD20.7 million, +1.0%;
  • Operating profit: USD18.1 million, -37.1%;
  • Net profit: USD10.5 million, -42.1%;
  • Passenger numbers: 1.2 million, +20.1%;
  • Load factor: 86.7%, +0.2%;
  • Operating revenue per ASM: USD 10.39 cents, -11.2%;
  • Operating cost per ASM: USD 8.99 cents, +0.4%;
  • Operating cost per ASM ex fuel: USD 5.45 cents, +1.1%;
• 12 months ended 31-Dec-2009:
  • Total operating revenue: USD557.9 million, +10.7%;
    • Total ancillary: USD162.7 million, +42.0%;
    • Fixed fee contract: USD43.2 million, -17.8%;
  • Total operating cost: USD435.7 million, -2.8%;
    • Fuel: USD165.0 million, -28.1%;
    • Labour: USD90.0 million, +25.0%;
  • Operating profit: USD122.3 million, +118.9%;
  • Net profit: USD76.3 million, +115.6%;
  • Passenger numbers: 5.3 million, +24.0%;
  • Load factor: 87.4%, +0.4 ppt;
  • Operating revenue per ASM: USD 10.24 cents, -9.8%;
  • Operating cost per ASM: USD 8.00 cents, -20.7%;
  • Operating cost per ASM ex fuel: USD 4.97 cents, +1.0%. [more][more - Perspective]

Allegiant Travel Company: "Looking forward, we currently see an improving pricing environment. While the economy is in the early stages of a recovery, our segment appears to be returning to revenue norms of past years. Our recently announced contract for additional aircraft should add 13 aircraft to our operating fleet and support our growth through 2011," Maurice Gallagher Jr, Chairman & CEO. Source: Allegiant Air, 26-Jan-2010.