Economy

Allegiant Air feels impact of damaging "60 Minutes" report

Allegiant Air feels impact of damaging

Allegiant vice president Eric Gust responded to the report, saying it was an "irresponsible, grossly misleading story".

But the MidAmerica Airport director said Allegiant's reported incidents are rare.

In a separate incident in September 2017, one passenger of Allegiant Flight 514 said the plane's cabin began to fill with smoke shortly after landing in Fresno, California.

CBS' latest episode of "60 Minutes" featured details of a seven-month-long investigation of the Las Vegas-based low-budget carrier, including an "alarming number" of issues between January 1, 2016, and October 31, 2017. Public documents show an alarming number of aborted takeoffs, cabin pressure loss, emergency descents and unscheduled landings.

Gust said it has come to the airline's attention that a terminated employee now engaged in a lawsuit seeking monetary damages from the company instigated the report.

The story highlights how Allegiant's problems come from the confluence of its aggressive business model and a safety culture aviation experts find to be lagging.

Allegiant is known for low-priced, no-frill flights.

More news: Three Area School District Budgets Go Before Boards Of Education Tonight

"My husband has flown Allegiant many times and said he had never had a problem, but I was still nervous after reading all the material slamming Allegiant for their safety record", Ribken said.

For personal guess ROI is usually expressed as a percentage and is typically used for taking any financial decisions, for the goal of comparing a Allegiant Travel Company (NASDAQ:ALGT)'s profitability or to compare the efficiency of different investments, hence, ALGT return on investment (ROI) is 8.90%. "There were no frills, but for the price of the tickets, we didn't expect any".

In a statement on Monday, Allegiant dismissed the claims in the CBS story as a "false narrative" and called any suggestions of intentional regulatory violations "offensive and defamatory". Wolfe Research raised shares of Allegiant Air from a market perform rating to an outperform rating in a report on Thursday, February 1st.

"The FAA exercises rigorous oversight of Allegiant, as they do all airlines operating in the United States".

Both DeNardi and Savanthi Syth, airline analyst at Raymond James, said they expect the airline to lose relatively few bookings because of the 60 Minutes report. Several anonymous, non-disciplinary reporting systems are available through Allegiant as well as through the FAA for team members to report safety concerns.

The pilot involved in that incident is suing the airline for wrongful termination. Allegiant says it operates at the "highest safety standards". We have safely carried almost 90 million passengers since beginning operations in 2001.

"Allegiant's workforce is made up of more than 4,000 dedicated and hard-working people who wake up every day thinking about how to move our customers safely from one place to another", Gust stated.


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