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closeMonday, Jun. 16, 2008
Allegiant Air reports 8 percent profit in first quarter
Pratik Joshi, Herald staff writer
Allegiant Air made an operating profit of more than 8 percent in the first quarter, according to a report released today, June 16, by the Bureau of Transportation Statistics, a unit of the U.S. Department of Transportation.
Allegiant, which provides four weekly flights from the Tri-Cities to Las Vegas, was followed by Southwest Airlines with a 3.5-percent profit among the low-cost carriers.
In the regional airline category, Atlantic Southeast Airlines, SkyWest Airlines and American Eagle posted profits ranging from 8.1 percent to 4.1 percent.
Horizon Air's first quarter lost amounted to 11 percent. Horizon's operating cost of 20.9 cents per available seat mile was listed as the highest for regional airlines.
The network carriers, or the seven large airlines, which include Continental Airlines, Delta Air Lines and Northwest Airlines among others, also reported a combined loss of 5.2 percent from January through March, a 7.7 percentage point decline from the 2.5 percent profit margin in the first quarter last year.
It spent 29.4 percent of its operating expenses in the first quarter of 2008 on fuel, compared to 13.8 percent five years earlier in the first quarter of 2003.
-- Pratik Joshi: 582-1541; pjoshi@tricityherald.com; Business Beat blog at www.tricityherald.com
| Pratik Joshi covers technology, employment, transportation, economic development and industrial growth. He joined the Herald in December 2006. He likes to write stories that educate. And there's hardly a subject he's not interested in. Drop him a line at pjoshi@tricityherald.com. | Ingrid Stegemoeller joined the Herald as a business reporter in September 2007. She covers the real estate and retail industries, as well as tourism. She says the best part of her job is meeting new people and hearing their stories. E-mail her at istegemoeller@tricityherald.com |
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