Allegiant reports profitable year
Allegiant Travel Company reported earnings gains for both the fourth quarter and full year 2013 compared to the previous year in its annual earnings report released Wednesday.
For the three-month period ended Dec. 31, Allegiant, which operates flights out of the Youngstown-Warren Regional Airport, showed a 19.3 percent increase in operating revenue to $30.3 million from $25.4 million in the fourth quarter of 2012.
For the year, Allegiant reported a 17 percent increase in operating income to $154.7 million from $132.3 million, the company reported.
The company also announced in paid a special dividend of $2.25 per share earlier this month.
“We are very proud to report our 44th consecutive profitable quarter,” stated Maurice J. Gallagher Jr., chairman and CEO of Allegiant Travel Co. “As we continue to add more efficient Airbus aircraft to our operating fleet, we have the opportunity to continue margin improvement going forward.”
The company added the Airbus A320 and A319 to Allegiant operations. The company ended 2013 with three A319 and five A320 aircraft in service, and has already added two more A320 aircraft in January, retiring five MD-80 aircraft.
A company spokesman said this month Allegiant is working on bringing additional Airbus aircraft to the fleet, but expects only three more in 2014.