Allegiant reported first quarter 2022 income before tax of $74.4 million, meaning a pre-tax margin of 11.5%, with airline-only income before income tax coming to 78.9 million, a pre-tax margin of 12.1%.
The company reported operating income of $94.8 million, yielding an operating margin of 14.6%, and airline-only operating income of $97.6 million, a 15% margin.
The travel business reported earnings (consolidated EBITDA) of $149.5 million,with airlines-related EBIDTA of $152.2 million, a 23.4% margin.
Revenue was up almost 30% year-on-year to $649.7 million, with fixed fee contracts revenue of $14.1 million, the company's highest for a first quarter.
"I am happy to report we delivered strong financial results during the first quarter with diluted earnings per share of $3.09," stated John Redmond, chef executive of Allegiant Travel Company.
The carrier's load factor was 85.8%, a 6.9 percentage point improvement, with the average fare of $154.12 the priciest quarter-based average on record for the company, which at the same time reported an average ancillary fare of $75.19, up 10.7% .
The company said it "received $28 million in remuneration during the quarter", when it recorded airline-only operating CASM, excluding fuel, of 7.75 cents, up 9.8%.
"The team worked tirelessly to ensure operational integrity, and our controllable completion of 99.9% or the quarter is a testament to their efforts. Running a safe, reliable operation is a critical component to our success, and I could not be prouder of the team's performance," Redmond added.