Nov 7 (Reuters) - Allegiant Air's pilots have

voted in favor of authorizing a strike action if the carrier

fails to reach a fair agreement, the Teamsters union said on

Thursday.

The union, which represents 1,300 pilots of the low-cost

U.S. carrier, said 97.4% of the Allegiant Air pilots voted for

authorizing a strike.

"Allegiant pilots are some of the most overworked and

underpaid in the airline industry," the union said in a

statement, adding that they are seeking industry-standard

compensation and improvements to scheduling.

Teamsters said the union and Allegiant are currently in

mediation sessions conducted by the federal National Mediation

Board (NMB).

Allegiant Air did not immediately respond to a Reuters

request for comment.

With a market capitalization of $1.3 billion, the

Nevada-based airline reported a fall in third-quarter revenues

to $562.2 million, from $565.4 million a year earlier.

Last year, Allegiant Air ratified a two-year extension of a

contract agreement, with Teamsters union representing 683

workers, including line and heavy maintenance technicians as

well as store employees and some administrative maintenance

staff.