Allegiant passenger counts up more than 12 percent

Las Vegas-based Allegiant Airlines grew its passenger counts more than 12 percent in the first three months of the year, the air carrier announced Monday.

Allegiant carried more than 1.35 million passengers between January and March, compared with 1.2 million passengers in the same three-month period a year ago. In March, Allegiant carried almost 9 percent more travelers than it did in the same month last year.

Macquarie Securities gaming analyst Joel Simkins said the more important statistic was the airlines' load factor during the quarter. Allegiant's planes flew at 91.7 percent capacity during the three-month period, which was the airline's highest figure since the third quarter of 2008.

Simkins said Allegiant's passenger figures are ahead of the company's projections but Allegiant's financial results could be hurt by fuel expenses, which have increased compared with a year ago.

"With the full first-quarter traffic data reported, we believe the company is on track to meet or exceed our expectations," Simkins said.

Wall Street has been looking toward Allegiant to increase its Las Vegas service to and from key feeder markets to help fill the hotel capacity that expanded at the end of last year.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871.