Allegiant Travel Company reports 33rd consecutive quarterly profit in 1Q2011

Allegiant Travel Company revenue up 14% - 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%. [more]

Allegiant: "Our strong results are principally due to a 13.3% increase in scheduled service passenger RASM (PRASM) and an 11.4% increase in total scheduled service RASM (TRASM) compared with 1st quarter 2010. We believe our unit revenue gains are due to a stronger demand environment, changes in our pricing strategy and tactics, and our aggressive management of capacity in our network. During the quarter, our scheduled service ASM growth was only 2.7%, our slowest pace of year over year growth since the 3 rd and 4th quarters of 2008," Maurice Gallagher, Chairman and CEO. Source: Allegiant Travel Company, 28-Apr-2011.