LAS VEGAS, Aug. 11, 2020 /PRNewswire/ -- Allegiant
Travel Company (NASDAQ: ALGT) today reported preliminary
passenger traffic results for July
2020.
"Gross bookings came in at roughly $2
million per day for the month of July," stated Gregory Anderson, executive vice president and
chief financial officer, Allegiant Travel Company. "Holding July
daily gross bookings constant for the duration of the quarter, we
continue to anticipate average daily cash burn to be just over
$1 million for the third quarter,
which includes half of the $20
million expected settlement to Sixth Street Partners
(formerly TSSP) related to the termination of the loan agreement
intended to finance the development of Sunseeker Resort Charlotte
Harbor. We operated roughly 75 percent of our originally planned
schedule during the month of July, with available seat miles down
9.8 percent year over year. This is consistent with expectations
for the remainder of the quarter. We recognize that market
conditions continue to evolve; therefore, we will refine capacity
to better match the demand environment as needed."
Scheduled
Service
|
|
|
|
|
|
July 2020
|
July 2019
|
Change
|
Passengers
|
894,679
|
1,740,997
|
(48.6%)
|
Revenue passenger
miles (000)
|
768,714
|
1,483,724
|
(48.2%)
|
Available seat miles
(000)
|
1,516,821
|
1,682,024
|
(9.8%)
|
Load
factor
|
50.7%
|
88.2%
|
(37.5pts)
|
Departures
|
10,370
|
11,832
|
(12.4%)
|
Average stage length
(miles)
|
843
|
834
|
1.1%
|
Total
System*
|
|
|
|
|
|
July 2020
|
July 2019
|
Change
|
Passengers
|
896,478
|
1,750,065
|
(48.8%)
|
Available seat miles
(000)
|
1,533,852
|
1,725,577
|
(11.1%)
|
Departures
|
10,559
|
12,165
|
(13.2%)
|
Average stage length
(miles)
|
838
|
833
|
0.6%
|
*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
|
July 2020 estimated
average fuel cost per gallon – system
|
$1.33
|
|
|
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
|
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SOURCE Allegiant Travel Company