Allegiant Travel Company reported a net income of $39.3 million, with a diluted earnings per share of $2.18. Total operating revenue reached $459.5 million, marking a 5.3% increase compared to the third quarter of 2019. The company experienced strong demand during the peak summer travel period, although a slowdown occurred due to the delta variant spike. Despite operational challenges, Allegiant's balance sheet remains strong with total liquidity of $1.1 billion.
GAAP diluted earnings per share of $2.18.
Adjusted diluted earnings per share of $0.66.
Total operating revenue was $459.5 million, up 5.3 percent when compared with the third quarter of 2019.
Yield remained strong throughout the quarter down only 5.9 percent year over two-year on scheduled service capacity increases of 17.0 percent.
The company expects fourth quarter capacity to be up 12 percent from 2019. At a minimum, growth will mirror our historical low, double-digit rate. However, if fuel continues to increase, we will moderate capacity accordingly. Uncertainty around the labor market is another growth factor we are watching.
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