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Allegiant Airlines Tumbles After Cutting Forecast on Fuel Costs

Mary Schlangenstein
Allegiant Airlines Tumbles After Cutting Forecast on Fuel Costs

Allegiant Airlines tumbled the most in more than a year after higher jet-fuel prices and slower-than expected aircraft deliveries forced the carrier to cut its earnings forecast. Profit will be between $9 and $10 a share for this year, down from the $10 to $12 expected earlier, the carrier said in a statement, citing $35 million more in fuel costs. Allegiant adjusted its outlook for seat and flight capacity growth to between 9 percent and 11 percent, down from as much as 15 percent previously.