Allegiant boosts Q1 operating profit to $57.3m

Washington DC
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Las Vegas-based Allegiant Air has posted a 9.4% growth in first quarter operating profit to $57.3 million.

The airline's operating revenue rose 10.8% to $303 million, up from $273 million in the same period in 2013.

Allegiant's first quarter net profit grew 7.2% to $34.2 million.

"We are pleased to produce another profitable quarter despite significant operational challenges and unusually high one-time costs that impacted our overall financial performance. This was a very difficult operational quarter as we navigated through significant flight crew availability issues stemming from external factors that occurred last year," says Allegiant's chairman and chief executive Maurice Gallagher.

Allegiant says crew availability issues resulted in an additional $12 million in incremental expenses during the quarter. The airline's operating cost per available seat mile excluding fuel rose 10.4% to 5.72 cents. Allegiant's scheduled passenger revenue per available seat mile grew 1.6% to 8.74 cents.

The quarter was the airline's 45th consecutive profitable quarter.