Allegiant sees increase in second quarter
Staff report
VIENNA
Allegiant Air posted a 12 percent increase in net income for the second quarter of 2016.
Income was $60.8 million, up from $54.3 million made in the second quarter of 2015.
The airline, which offers air service to four destinations from the Youngstown-Warren Regional Airport, posted total operating revenue of $344.9 million, up from the $322.1 million reported in the second quarter of 2015.
During the second quarter, the company announced its pilots approved a new, five-year contract to go into effect Monday, and Friday the company announced an agreement with Airbus to purchase 12 new A320s.
The purchase puts Allegiant at 77 Airbus aircraft that are either in service or under contract. Allegiant’s goal is to have 90 to 100 Airbus aircraft.
As of June 30, the company is operating 342 routes versus 271 at the same time last year.
Also during the second quarter, the airline announced 12 new routes to begin Sept. 28. Allegiant also added service to three new cities.
For the first half of the year, Allegiant made 11.4 percent more in net income. Total operating revenue increased 6.5 percent so far this year.