Allegiant Travel Co., parent of Allegiant Air, reported $22.6 million in net income for the first quarter, a 19.8% decrease from its year-ago profit of $28.2 million. Operating revenue was up 19.4% to $169.6 million but expenses jumped 36.6% to $133.4 million on a 71.8% hike in aircraft fuel costs to $57.4 million. This caused operating income to fall 18.5% to $36.2 million. "We are pleased to announce our 29th consecutive profitable quarter with the results of the first quarter of 2010," ...

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