Allegiant Travel Group (Allegiant Air) (Las Vegas) reported financial results for the fourth quarter and full year 2014. For the 4Q, the company reported net income of only $4.8 million, down 72.6 percent from the same period a year ago when it reported a 4Q net profit of $17.5.

For 2014, the company reported a net profit of $86.7 million versus $92.3 million for 2013.

This represents the 48th consecutive profitable quarter. The lower earnings were due to a write down in the value of its Boeing 757-200 fleet of $43.3 million in the fourth quarter as previously reported.

“We are very proud to report our 48th consecutive profitable quarter,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company. “Excluding the one-time charge related to the write down of our 757 fleet, full year operating margin increased again, for the third year in a row in spite of a number of operational challenges. Looking forward, we see better execution in 2015.”

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Copyright Photo: TMK Photography/AirlinersGallery.com. Boeing 757-204 N905NV (msn 27235) lands at the Las Vegas home.

Allegiant Air aircraft slide show:

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