Loading
20-Apr-2010 1:38 PM

Allegiant Travel Company reports 29th consecutive profitable quarter

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.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More