LAS VEGAS, Sept. 9, 2020 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for August 2020.

"Average daily bookings for the month of August were roughly $2 million," stated Gregory Anderson, executive vice president and chief financial officer, Allegiant Travel Company. "We continued to maintain a broad selling presence with available seat miles remaining relatively flat year over year. At recent booking levels, average daily cash burn is expected to be greater than $1 million for the third quarter, which includes payments due in conjunction with the termination of the loan agreement with Sixth Street Partners. We have been pleased to see modest week over week improvements in daily bookings throughout the month of August and into September. If current booking trends remain stable, we continue to expect average daily cash burn to be lower than $1 million in the fourth quarter."  

Scheduled Service


August 2020

August 2019

Change

Passengers

633,155

1,241,846

(49.0%)

Revenue passenger miles (000)

540,317

1,047,568

(48.4%)

Available seat miles (000)

1,226,370

1,229,543

(0.3%)

Load factor

44.1%

85.2%

(41.1pts)

Departures

8,455

8,768

(3.6%)

Average stage length (miles)

835

822

1.6%

Total System*


August 2020

August 2019

Change

Passengers

636,485

1,256,712

(49.4%)

Available seat miles (000)

1,252,758

1,306,860

(4.1%)

Departures

8,669

9,294

(6.7%)

Average stage length (miles)

833

824

1.1%


*Total system includes scheduled service and fixed fee contract.  System revenue passenger miles and system load factor are not useful statistics as system available seat miles include both ASMs flown by fixed fee flying as well as non-revenue producing repositioning flights used for operational needs.  Fixed fee flying is better measured through dollar contribution versus operational statistics.

Preliminary Financial Results


$ per gallon

August 2020 estimated average fuel cost per gallon – system

$1.34





Allegiant Travel Company

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with premier leisure experiences - from vacations to hometown family entertainment. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF

ALGT/G

Note: This news release was accurate at the date of issuance. However, information contained in the release may have changed. If you plan to use the information contained herein for any purpose, verification of its continued accuracy is your responsibility.

For further information please visit the company's investor website: http://ir.allegiantair.com

Reference to the Company's website above does not constitute incorporation of any of the information thereon into this news release.

Allegiant Media Contact:


Investor Inquiries:

Hilarie Grey


Sherry Wilson

email: mediarelations@allegiantair.com


email: ir@allegiantair.com

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/allegiant-reports-august-2020-traffic-301126398.html

SOURCE Allegiant Travel Company

Copyright 2020 PR Newswire

Allegiant Travel (NASDAQ:ALGT)
Historical Stock Chart
From Sep 2020 to Oct 2020 Click Here for more Allegiant Travel Charts.
Allegiant Travel (NASDAQ:ALGT)
Historical Stock Chart
From Oct 2019 to Oct 2020 Click Here for more Allegiant Travel Charts.