Allegiant Q3 2018 Earnings
Page 1

Exhibit 99.1
 algtheaderq417a03.jpg
  
ALLEGIANT TRAVEL COMPANY THIRD QUARTER 2018
FINANCIAL RESULTS
Third quarter 2018 Fully Diluted Earnings per Share of $0.94

LAS VEGAS. October 24, 2018 —
Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the third quarter 2018, as well as comparisons to the prior year:

 
Three Months Ended 
 September 30,
 
 
Nine Months Ended 
 September 30,
 
Unaudited
2018
2017
Change
 
2018
2017
Change
Total operating revenue (millions)
$
393.1

$
350.2

12.3
 %
 
$
1,255.3

$
1,132.0

10.9
 %
Operating income (millions)
26.2

44.3

(41.0
)
 
180.4

203.9

(11.5
)
Net income (millions)
15.1

23.4

(35.2
)
 
120.4

114.8

4.9

Diluted earnings per share
$
0.94

$
1.45

(35.2
)
 
$
7.45

$
6.99

6.6


"We are proud to announce our 63rd consecutive profitable quarter," stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant Travel Company. "Our transition to an all-Airbus fleet is nearly complete. Our decision to move the transition up by a year from 2019 to 2018 has proven to be an excellent one given the higher fuel cost environment. Compared to our all-MD-80 fleet from 2010, we expect our ASMs per gallon to increase by almost 40 percent in 2019, from 59 ASMs per gallon to the low 80s.

"This has been a busy couple of years across the Company as we transitioned our fleet. Since the end of 2016:
1.
We will have purchased and inducted 43 Airbus aircraft, while retiring 47 MDs. We will have trained more than 350 Airbus pilots and 300 maintenance technicians as well as our flight attendants, ground staff and other operations personnel by the time we fly the final MD-80 flight at the end of November.
2.
We have grown the Company 20 percent in capacity (ASMs), adding 51 routes and carrying 13.6 million passengers during the last twelve months, an increase of 1.64 million passengers over 2016.
3.
We have dramatically improved our operations. Since last October, we have led the industry in monthly completion factor six times and have been among the top three except for a few months. Our on-time performance is improving nicely as well; this September we were up ten percentage points in A14, from 72 percent to 82 percent.

"I couldn’t be more excited about where we are at this point in our history. As we outlined in our Sunseeker Resort investor day, we are ready for Allegiant 2.0. Stay tuned!




The following information was filed by Allegiant Travel Co (ALGT) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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