Allegiant posts $14.8m net profit for Q4

Washington DC
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Las Vegas-based Allegiant Air has posted a 36.6% growth in net income to $14.8 million in the fourth quarter.

Revenue for the three months ended 31 December 2012 rose 14.9% to $223 million and expenses grew 13.6% to $197 million. The airline's operating income grew 25.8% to $25.4 million.

On a full-year basis, the airline's net income more than doubled to $78.6 million. Revenue rose 16.6% to $909 million and expenses grew 11.9% to $776 million. The airline's full-year operating income grew 54.8% to $132 million.

In the fourth quarter, Allegiant's operating revenue per available seat mile (RASM) declined 3.7% to 11.85 cents while its cost per available seat mile (CASM) excluding fuel fell 4.4% to 5.63 cents.

Passenger traffic grew 15.8% during the quarter and capacity was up 19.3%. The passenger load factor declined 2.5 percentage points to 84%.

Full-year RASM declined 0.8% to 12.14 cents and full-year CASM excluding fuel fell 6.7% to 5.32 cents. Passenger traffic in 2012 rose 15.5% and capacity grew 17.6%. The load factor fell 1,6 percentage point to 87%.