Allegiant swings to net loss in first quarter as Boeing delivery delays continue

Allegiant has revealed a disappointing first quarter result with only a 1% year-on-year (YoY) increase in its total consolidated operating revenue, crawling to $656.4 million. More disappointing still, its net income of 56.1 million in the first quarter of 2023 had swung to a loss of nearly $1 million. Its diluted earnings per share, which was at $3.09 in last year’s first quarter, was at a negative $0.07 per share this year. Its consolidated operating income showed an 83.8% decline to $15.4 million and its operating expenses up 15.5% to $641 million. The first quarter marked the first full quarter