The Bellingham Business Journal
Allegiant Air was named the top-performing airline in the low-cost/niche category by Aviation Week magazine. The annual award recognizes the company’s ability to capitalize on opportunities and thrive despite the global economic crisis.
“Airlines with the leadership ability to maintain strong liquidity, good financial health, cost discipline and a focus on efficiency are those in the best position to take advantage of demand,” said Michael Lowry, Top-Performing Airlines project manager. “Allegiant’s business model is unique and has resulted in the airline having stronger financial health than any other airline, including legacy carriers.”
In addition to its high financial health score, Allegiant was selected because of its ability to steadily increase its net profit and for capitalizing on ancillary revenue.
“We owe this distinction to the hard work of our staff,” said Maurice J. Gallagher, Jr., Allegiant chairman and CEO. “Our continued growth and excellent financial performance is a result of their innovation and dedication.”
Allegiant previously appeared on this list, but 2010 marks the first year the company has taken the top spot.
“We’re pleased to be recognized as the Top-Performing Airline in the low-cost/niche category,” said Andrew C. Levy, Allegiant president. “It is a testament to our success as a strong, profitable and low-fare company.”