EXHIBIT 99.1
 
ALLEGIANT TRAVEL COMPANY
FOURTH QUARTER AND FULL YEAR 2010 FINANCIAL RESULTS
32nd Consecutive Profitable Quarter
Fully Diluted Earnings per Share of $.64
12.9% Operating Margin in the 4th quarter
15.8% Operating Margin in full year 2010

Las Vegas, Nev., January 31, 2011 /PRNewswire/ – Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the 4th quarter 2010 as well as full year 2010 and comparisons to prior year equivalents:

Unaudited
4Q10
4Q09
Change
2010
2009
Change
Total operating revenue (millions)
$162.0
$134.7
20.3%
$663.6
$557.9
18.9%
Operating income (millions)
$20.9
$18.1
15.5%
$104.7
$122.3
(14.4)%
Operating margin
12.9%
13.4%
-0.5pp
15.8%
21.9%
-6.1pp
             
EBITDA (millions)
$30.0
$25.8
16.4%
$139.6
$151.8
(8.0)%
    EBITDA margin
18.5%
19.1%
-0.6pp
21.0%
27.2%
-6.2pp
Net income (millions)
$12.4
$10.5
17.5%
$65.7
$76.3
(13.9)%
Diluted earnings per share
$0.64
$0.52
23.1%
$3.32
$3.76
(11.7)%

“We have concluded another very successful year,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company.  “Our 4th quarter results represented the 32nd consecutive quarter and eight straight years of profits.  Our $105M operating profit translated into $66M of net income and just short of $140M of EBITDA for the year.  4th quarter results generated a 13% operating margin, lower than our goal of 20%.  The substantial increase in jet fuel prices which peaked during the last two weeks of the quarter weighed on the quarter's results.  In three months our scheduled service cost per gallon increased almost 11% or $.25 to $2.61.  If we had maintained our 3rd quarter unit fuel cost, our operating margin would have approached 17%.  In spite of this, we were able to grow earnings per share by 23% compared to last year’s 4th quarter.

“On the revenue front, we had reasonable increases.  Our total RASM in the 4th quarter, including ancillary products, increased 9.2% year over year while sequentially total RASM was up 12%.  Our scheduled service selling fare sequentially was up 16.6% in the 4th quarter versus the 3rd quarter, a healthy increase.  Our combined scheduled service average fare of almost $117, exceeded only by our 3rd quarter 2008 combined fare, was a necessary increase given the pressure from energy costs.

“We have recently added several individuals to our senior management team, including new leaders in our flight operations and station operations areas as well as the creation of a new Chief Information Officer position.   We are excited to be able to attract highly capable leaders who will help us manage the business as it becomes larger and more complex.  Strengthening our foundation is a key part of our 2011 Plan and bringing on new leadership in certain areas of the business is a very important part of that effort.

“Lastly, I want to thank our team members for their efforts in producing another excellent year.  Their efforts everyday delivering our customers safely, reliably and on-time are critical to our success,” concluded Gallagher.
 
 
 

The following information was filed by Allegiant Travel Co (ALGT) on Monday, January 31, 2011 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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