Allegiant Travel Company Second Quarter 2011 Financial Results

Fully Diluted Earnings per Share of $.62

LAS VEGAS, Aug. 1, 2011 (GLOBE NEWSWIRE) -- Allegiant Travel Company (Nasdaq:ALGT) today reported the following financial results for the 2nd quarter 2011 and comparisons to prior year equivalents:

Unaudited 2Q11 2Q10 Change Total operating revenue (millions) $200.4 $168.4 19.1% Operating income (millions) $20.7 $28.1 (26.2)% Operating margin 10.3% 16.7% -6.4pp EBITDA (millions) $30.9 $36.5 (15.3)% EBITDA margin 15.4% 21.7% -6.3pp Net income (millions) $11.9 $17.6 (32.0)% Diluted earnings per share $0.62 $0.87 (28.7)%         Scheduled Service:       Average fare - scheduled service $91.17 $73.15 24.6% Average fare - ancillary air-related charges $31.45 $29.61 6.2% Average fare - ancillary third party products $5.68 $4.87 16.6% Average fare - total $128.30 $107.63 19.2% Scheduled service passenger revenue per ASM (PRASM)(cents) 9.27 7.27 27.5% Total scheduled service revenue per ASM (TRASM) (cents) 13.04 10.70 21.9% Load factor 92.0% 91.8% 0.2pp         Total System*:       Operating expense per passenger $115.24 $90.96 26.7% Operating expense per passenger, excluding fuel $59.81 $50.61 18.2% Operating expense, excluding fuel per ASM (CASM ex fuel) (cents) 5.92 4.87 21.6% *Total system includes scheduled service, fixed-fee contract and non-revenue flying

"We are very proud to report our 34th consecutive profitable quarter," stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company. "I'd like to thank our Team Members for their great efforts and contributions to another successful quarter.

"Revenues have been very strong. Scheduled service revenues were up almost 24% versus 2nd quarter 2010 despite a reduction in capacity. The $19 increase in revenue per passenger more than offset the $15 per passenger increase in fuel cost during the quarter.

"We are also very excited about the addition of the first 757 to our operating certificate, which occurred on July 1. We recently began operating this 217 seat aircraft on two of our Las Vegas routes, McAllen, Texas and Rockford, Illinois and have been receiving excellent feedback from our customers. Having the additional seats during the peak summer travel period is proving to be quite valuable. We are now working on preparing our application to the FAA for obtaining the requisite ETOPS approvals we need in order to commence Hawaii flights which we hope to be able to begin next summer.

"The introduction of the 757, our Hawaii expansion and the previously announced MD-80 seat expansion projects are all important to the company and we are excited to see progress on all fronts. Our Team Members have been working diligently to complete these product additions as well as continue to provide our customers with low cost access to our world class destinations," concluded Gallagher.