Las Vegas-based airline operator Allegiant Travel Co. today said its second quarter profit fell on higher costs, including increased expenses for fuel.
The owner of Allegiant Air said that for the quarter ended June 30, it earned $11.9 million or 62 cents per share, down from $17.6 million or 87 cents in the year-ago quarter.
Operating revenue of $200 million was up 19 percent, but operating expenses rose 26.7 percent.
The company cited higher fuel costs and other items such as expenses to introduce Boeing 757s to the company’s fleet and to overhaul jet engines.
Despite the lower profit, CEO Maurice Gallagher Jr. noted in a statement that this was the company’s 34th consecutive profitable quarter and that "revenues have been very strong."