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
|
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SOURCE Allegiant Travel Company