Allegiant Air, the primary airline at St. Pete-Clearwater Airport, posted its 60th consecutive profitable quarter on Wednesday. The Las Vegas-based airline recorded $378.6 million in revenue for the final quarter of 2017 — up from $335.9 million the same quarter last year — with a net income of $82.5 million, roughly double its $41.3 million profit a year ago.
"We have achieved this record even as oil climbed above $145 per barrel and during one of the worst recessions in the country’s history," said Maurice Gallagher Jr., CEO of the airline’s parent Allegiant Travel Company, in a release.
Under the new federal tax cuts, the company received a $74 million break. Allegiant Travel Company stock closed at $159 per share, down just under 1 percent over the day.
Contact Malena Carollo at [email protected] or (727) 892-2249. Follow @malenacarollo.