Allegiant earnings up in third quarter
Staff report
VIENNA
Las Vegas-based Allegiant Travel Co., which operates at Youngstown-Warren Regional Airport, reported a third-quarter profit of $44.5 million Wednesday.
The commercial airline’s profits were up more than 200 percent from the 2014 third-quarter earnings of $14.2 million.
Earnings per share were $2.62 in the third quarter of 2015 compared with $0.80 in the third quarter of 2014.
“We are very proud to report another profitable quarter,” said Maurice J. Gallagher Jr., chairman and CEO of Allegiant, in a statement. “Our financial performance continues to benefit from lower energy costs and the profitable growth of our network.”
The company also reported total operating revenue of $300 million compared with $265 million reported for the third quarter of 2014.
Operating income came in at $77.1 million compared with $28.9 million reported in the third quarter of 2014.
The company has 18 airbus aircraft in its fleet and expects to have 25 by the year’s end.
“Over the next few years, our current commitments will take us to a total of 50 Airbus aircraft,” Gallagher said in a statement.
Scheduled-service revenue during the third quarter increased by 1.9 percent.
Allegiant provides flights at the Youngstown airport to Orlando, Tampa Bay and Punta Gorda/Fort Myers in Florida, as well as Myrtle Beach, S.C.