Allegiant reports Q2 2016 net income of USD60m

Allegiant Travel Company (NASDAQ: ALGT) has reported second quarter 2016 net income of USD60.8 million, compared to USD54.3 million in the second quarter 2015, representing a 12.6 percent increase, the company said.

Operating income in the second quarter 2016 was USD104.5 million compared to USD54.3 million in the second quarter 2015, representing a 12 percent increase.

The company signed an agreement with Airbus to purchase 12 end-of-line, CFM-powered A320s, putting 77 Airbus aircraft either in service or under contract for future delivery.

Allegiant pilots ratified a new pilot contract that will last for the next five years.

The company announced 12 new routes that will begin after September 28, 2016 and added service to three new cities: New York City through Newark, New Jersey, Ogdensburg, New York and seasonal service to Montrose Regional Airport from Denver, Colorado.

Las Vegas-based Allegiant links travelers in small cities to leisure destinations, and offers low fares on its all-jet fleet.