Allegiant reports 34th consecutive profitable quarter

LAS VEGAS – Allegiant Travel Co. (Nasdaq: ALGT) reported its 34th
consecutive profitable quarter in its second-quarter 2011 financial
results, although net income was down by 32 percent from the same
quarter in 2010.

The travel company, which operates nonstop flights to Las Vegas and
Phoenix-Mesa from the Fort Collins-Loveland Airport, reported
second-quarter total operating revenue of $200.4 million compared to
$168.4 million for the same quarter a year earlier.

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However, the company reported $11.9 million in net income for the
quarter compared to $17.6 million in 2010. Diluted earnings per share
were down 28.7 percent for the quarter from 87 cents in 2010 to 62 cents
in 2011.

“We are very proud to report our 34th consecutive profitable quarter,”
said Maurice Gallagher Jr., Allegiant chairman and CEO. “Revenues have
been very strong. Scheduled service revenues were up almost 24 percent
versus second quarter 2010 despite a reduction in capacity.”

The company also reported that the average fare for scheduled service
increased by 24.6 percent in the quarter compared to a year earlier,
with a 38.9 percent increase in aircraft fuel contributing to the
increase.

Shares of Allegiant were trading down $1.21 at $40.92 this afternoon.