Allegiant Travel Co. (ALGT), parent company of Allegiant Air and Allegiant Vacations, reported that third quarter net income surged to $13.8 million or $0.68 per share, from $4.9 million or $0.24 per share in the year-ago quarter.
Total operating revenue for the quarter rose 13.9% to $133.1 million from $116.9 million in the same quarter a year earlier.
On average, analysts polled by Thomson Reuters estimated the company to report $0.63 per share for the quarter on $130.45 million revenue.
In addition, Allegiant Travel announced that its Chief Financial Officer Andrew Levy will also assume the title of President. Maurice Gallagher, who previously held the title, remains Chief Executive Officer and Chairman. Allegiant Travel further announces that Montie Brewer has been elected to Board of Directors.
Allegiant Air also provided guidance for fourth quarter, including year-over-year total system departure growth of about 15% and ASM growth of about 23%.
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