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Unconventional strategy is paying off big for Allegiant Travel (NASDAQ: ALGT). One would think that an airline company, which uses outdated, gas-guzzling planes, arrives and departs late, and offers no complimentary beverages would not be a successful company. But, as mentioned in a Wall Street Journal post, Allegiant is worth a second look.

1. High margins in a troubled industry

Since 2008, the airlines industry has seen bankruptcies, consolidation and rising fuel prices. As a result, the U.S. sector has scaled back domestic air travel by 14%.

Allegiant air, however, boasts the lowest costs, fullest planes and highest margins in the industry. Compared to much larger industry leaders Delta Air Lines (NYSE: DAL), United...

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