Profits, revenues rise at Allegiant Travel

Two Allegiant Airlines jets are seen at McCarran International Airport. The company's revenues and profits both jumped during the first quarter.

Buoyed by an earlier Easter holiday and lower maintenance bills, Allegiant Travel Co.’s revenues and profits jumped during the first quarter.

The $273 million in revenues for the Las Vegas-based airline marked a
14.8 percent gain from the same period last year, with the Easter holiday falling in March instead of April. Because Allegiant caters almost entirely to bargain-hunting leisure passengers, this kind of timing change can affect results.

The company reported a 39 percent jump in the revenues collected from things not included in the basic fare, such as seat assignments. The average passenger now pays $97.54 for the seat itself and $41.64 for all the extras.

Net income jumped 46.7 percent to $31.8 million, $1.65 a share. Maintenance costs were lower than a year ago, but the company expects that line item to rise in the current quarter. The profits beat not only the estimate of 13 industry analysts of $1.44 a share but also the most optimistic estimate of $1.57 a share.

In Thursday trading, shares of Allegiant fell $1.77, 1.92 percent, to close at $90.46 on the Nasdaq.