Allegiant reports Q1 operating income of $52 million

Washington DC
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Record high fares and ancillary passenger revenue contributed to the $52.4 million operating income reported by Las Vegas-based Allegiant Airlines for the first quarter of 2013.

The airline's operating income was up 44% in the first quarter from the $36.3 million it recorded in the same period last year.

Allegiant also reports that net income climbed 47% year-over-year to $31.9 million.

The results mark 41 consecutive profitable quarters for the company, notes chairman and chief executive Maurice Gallagher in a release.

The company notes that during the quarter Allegiant's average fare and average amount of ancillary revenue per passenger reached record levels, and load factors were near 90%.

The company's average fare for scheduled flights during the period was $97.54, up nearly 3%, and average ancillary revenue was $41.64, up 29%.

The total average fare per passenger climbed 9% to $144.99, Allegiant reports.

Operating cost per available seat mile, excluding fuel, increased 0.2% to 5.18 cents. The company reports operating revenue of $273 million, up 15%, and operating expenses of $221 million, up 10%.