10 Days After Damaging ’60 Minutes’ Report, Allegiant Booking Volume Returns To Normal
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The 60 Minutes investigation aired on April 15, after which Allegiant’s ticket sales dropped and flight cancellations shot up. The airline’s stock also took a hit, falling about 5% after the report was published, while shares for other airlines saw gains.
However, during the company’s quarterly report Wednesday, company executives stated that booking volume is back up. Furthermore, the airline’s first-quarter earnings topped Wall Street analysts’ expectations, with Allegiant reporting per-share earnings of $3.42, up more than 35% from one year ago.
Allegiant president John Redmond had just one statement to make about the 60 Minutes report, calling it “inaccurate, misleading, and not reflective of our safety culture and practices, then and now” and said that the airline would not comment further on the story.
Featured photo courtesy of Robert Alexander/Contributor/Getty Images.