Allegiant Air: Bookings return to near normal after '60 Minutes' report criticized safety record

Key Points
  • A "60 Minutes" segment said the company had a poor safety record compared with its competitors.
  • Executives said bookings initially dropped off but are getting back to normal.
A file photo of an Allegiant Air plane
Source: Allegiant Air | Wikipedia

Allegiant Travel Co. bookings fell and cancellations rose following a report on CBS' "60 Minutes" that criticized the company's safety record, but they are returning to normal levels, company executives said Wednesday.

The segment, which aired April 15, said the budget airline is more likely to have in-flight mechanical problems than its competitors.

The company reported its 61st consecutive quarter of profit, it said Wednesday, posting per-share earnings of $3.42, more than 35 percent higher from a year ago, and topping Wall Street analysts' expectations.

The company's shares were little changed in post-market trading.

Allegiant's president, John Redmond, attacked the "60 Minutes" report, calling it "inaccurate, misleading, and not reflective of our safety culture and practices, then and now."

"We won't be commenting any further" on the story, Redmond added.

The company's stock has lost about 5 percent since the segment aired, while several other U.S. airlines' shares have gained.

WATCH: Allegiant's safety record under fire

Allegiant's safety record under fire after '60 Minutes' report