Allegiant Q4 2023 operating income falls 88% YoY to $10.6 million

Allegiant has reported a consolidated operating income of $10.6 million in the fourth quarter of 2023, a decrease of 88.1% from $89.2 million in the same period of 2022. However, the total operating revenue remained stable at $611 million, decreasing only 0.1% from $611.5 million in the same period of 2022. Net income dropped from $52.5 million in the fourth quarter 2022 to $2 million in the same period of 2023. Diluted earnings per share for the fourth quarter fell to $0.13 from $2.87 YoY. “We still have work to do to restore margins to historical levels,” said Allegiant Travel