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Published May 01, 2008 10:30 pm - A company spokesperson said flights between Plattsburgh International Airport and two Allegiant destinations, Orlando and Fort Lauderdale, are a key part of that success.

Allegiant releases rosy first-quarter financial results
Plattsburgh flights given a large share of the credit

By DAN HEATH
Staff Writer

PLATTSBURGH -- Allegiant Air had a successful first quarter of 2008, partly due to its Plattsburgh flights.

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Allegiant Travel Co., the parent company of Allegiant Air, reported total operating revenue was up 58 percent to $133.1 million, compared to $84.3 million in the first quarter of 2007.

"Our first quarter was exceptional, particularly on the revenue side," Allegiant Travel Chairman, CEO and President Maurice Gallagher Jr. said in a press release.

He said that was at least partly due to the company's successful focus on achieving higher passenger loads per flight.

"Our scheduled system had the highest domestic load factor in the industry at 86.9 percent, a 4.4-percentage-point increase from first quarter 2007," Gallagher said.

PLATTSBURGH STRONG

Allegiant Air spokeswoman Tyri Squyres said Plattsburgh continues to exceed the company's expectations.

"Air service there is an important part of our equation. We've had very good loads coming out of Plattsburgh."

Allegiant launched its Plattsburgh-Fort Lauderdale, Fla., service on Nov. 16, with two flights a week each way.

It added two flights a week each way on Feb. 2 and two flights a week each way between Plattsburgh and Orlando, Fla., on Feb. 1.

The company reported 1,154,710 total passengers in the first quarter of 2008, compared with 753,239 in the first quarter of 2007, a 53-percent increase. Separate figures for Plattsburgh were not available.

HIGHER FUEL COSTS

Gallagher said Allegiant's operating margin declined 6.2 percent, from 17 percent to 10.8 percent. That was due to a 103.6-percent increase in fuel costs from the first quarter of 2007 to 2008, from $31.1 million to $63.4 million, due to higher fuel costs and the addition of flights.

"Once fuel prices stabilize, I am confident we will stabilize this trend," he said.



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