Allegiant reports earnings increase in 1Q 2016

Staff report

VIENNA

Allegiant Travel Co., the only commercial airline in operation at the Youngstown-Warren Regional Airport, reported an 11 percent increase in net income for the first quarter of 2016 over the first quarter of 2015.

The Las Vegas-based company reported net income of $72 million in the first quarter of 2016, up from $64.9 million in the first quarter of 2015, the company reported Wednesday.

The company’s total revenue increased 5.9 percent year-over-year – from $329.2 million to $348.6 million in the first quarter of 2016.

Allegiant’s operating income increased 12.1 percent year-over-year.

Diluted earnings per share for the first quarter of 2016 were $4.29, up from $3.74 in the first quarter of 2015.

The company’s operating statistics show a 14.9 percent increase in the number of passengers, from 2.25 million in the first quarter of 2015 to 2.59 million in the first quarter of 2016.

In the first quarter, Allegiant announced 41 new routes to come and service to six new cities. At the Youngstown-Warren airport in Vienna, Allegiant offers flights to Orlando, Tampa and Fort Myers, Fla.; and Myrtle Beach, S.C.