Business
Allegiant Reports August 2020 Traffic
LAS VEGAS, Sept. 9, 2020 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for August 2020.
About this update from Allegiant Travel Company
[{"type":"text","content":"LAS VEGAS, Sept. 9, 2020 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for August 2020.\n\n \n \n \n \n \n \n\n \n\"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 $1 million in the fourth quarter.\" \nScheduled Service\nAugust 2020\nAugust 2019\nChange\nPassengers\n633,155\n1,241,846\n(49.0%)\nRevenue passenger miles (000)\n540,317\n1,047,568\n(48.4%)\nAvailable seat miles (000)\n1,226,370\n1,229,543\n(0.3%)\nLoad factor\n44.1%\n85.2%\n(41.1pts)\nDepartures\n8,455\n8,768\n(3.6%)\nAverage stage length (miles)\n835\n822\n1.6%\nTotal System*\nAugust 2020\nAugust 2019\nChange\nPassengers\n636,485\n1,256,712\n(49.4%)\nAvailable seat miles (000)\n1,252,758\n1,306,860\n(4.1%)\nDepartures\n8,669\n9,294\n(6.7%)\nAverage stage length (miles)\n833\n824\n1.1%\n*Total system includes scheduled service and fixed fee contract. System revenue passenger miles and system load factor are not useful statistics as system available seat miles include both ASMs flown by fixed fee flying as well as non-revenue producing repositioning flights used for operational needs. Fixed fee flying is better measured through dollar contribution versus operational statistics.\nPreliminary Financial Results\n$ per gallon\nAugust 2020 estimated average fuel cost per gallon – system\n$1.34\nAllegiant Travel Company\nLas 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 t...