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Allegiant reports an increase in earnings

Thursday, October 27, 2016

Staff report


Allegiant Travel Co., the only commercial airliner in operation at the Youngstown/Warren Regional Airport, reported a net income increase of 2.2 percent in the third quarter.

Net income in the third quarter of 2016 was $45.5 million compared with $44.5 million reported in the third quarter of 2015.

The Las Vegas airline’s total operating revenue was $333.5 million compared with $300 million made the third quarter of 2015 for a 11.2 percent increase.

During a conference call, Allegiant executives mentioned the struggle the airline faced with Hurricane Matthew’s interruption. The hurricane canceled 175 flights.

“We had a very busy summer this year,” said Maurice J. Gallagher Jr., chairman and chief executive officer of Allegiant, in a statement. “I want to thank all of our team members for their tremendous effort and hard work through a challenging set of months. It is due to them that we can announce another profitable quarter, our 55th consecutive.”

During the quarter, Allegiant named John Redmond, board member and former CEO of MGM Grand Resorts, as president.

The airline also announced 18 new routes during the quarter.

As of Sept. 30, the company is operating 337 routes versus 271 at the same time last year.