Allegiant Travel Co., parent of Allegiant Air, reported $7 million in net income for the third quarter, a significant improvement over a $1.2 million loss during the same period a year ago. Operating revenue was up 41.7% to $86.3 million while operating income more than tripled to $9.5 million from $2.9 million. Expenses rose 32.3% to $76.7 million. "Our results in the third quarter, historically our weakest, remain in line with our expectations," CEO and Chairman Maurice Gallagher Jr. said. "We more than doubled our operating margin to 11% despite substantial growth."
Allegiant Travel Co., parent of Allegiant Air, reported $7 million in net income for the third quarter, a significant improvement over a $1.2 million loss during the same period a year ago. Operating revenue was up 41.7% to $86.3 million while operating income more than tripled to $9.5 million from $2.9 million. Expenses rose 32.3% to $76.7 million. "Our results in the third quarter, historically our weakest, remain in line with our expectations," CEO and Chairman Maurice Gallagher Jr. said. ...
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