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: [email protected] |
email: [email protected] |
SOURCE Allegiant Travel Company
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