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Tuesday, October 20, 2009
Allegiant Travel Net Up On 14% Higher Revenue
By Robert Daniel
MarketWatch Pulse
TEL AVIV -- Allegiant Travel Co., the Las Vegas parent of Allegiant Air, reported late on Monday that third-quarter net income nearly tripled -- to 68 cents a share from 24 cents -- as revenue rose 14% to $133.1 million. The load factor, or the percentage of seats filled with paying passengers, narrowed to 89.9% from 93.8% in the year-earlier quarter. The airline "squeezed capacity hard to compensate for extraordinarily high fuel prices," Chairman and Chief Executive Maurice J. Gallagher Jr. said in a statement. The company also said that Chief Financial Officer Andrew C. Levy would add the post of president. Gallagher had previously held the title.
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