Allegiant 1Q net profit drops 19.8% to $22.6 million

Allegiant Air (Allegiant Travel Company) (Las Vegas) is still making money. However its first quarter net profit declined by 19.8 percent to $22.6 million.

During the first quarter of 2010 the company placed one owned 150-seat DC-9-82 (MD-82) aircraft into revenue service. We placed a second owned 150-seat DC-9-80 (MD-80) aircraft into service early in the second quarter, in conjunction with the previously announced planned permanent withdrawal of one DC-9-87 (MD-87) aircraft on April 1 (our 130-seat DC-9-87 fleet, now numbering three, operates almost exclusively for our fixed-fee programs). By the end of the second quarter 2010, we expect to have an operating fleet of 50 DC-9-80 (MD-80) aircraft (including our three remaining DC-9-87 aircraft).

Read the full press release:

http://finance.yahoo.com/news/Allegiant-Travel-Company-prnews-2666182005.html?x=0&.v=1

Copyright Photo: FastEddie-Freedom Aviation Photography. Ex-SAS McDonnell Douglas DC-9-82 (MD-82) N416NV (msn 49555, ex LN-RMD) was acquired on February 21, 2010 and is now operating in the basic livery minus the usual tail logo.