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press release

July 9, 2020, 9:00 a.m. EDT

Allegiant Reports June 2020 Traffic

LAS VEGAS, July 9, 2020 /PRNewswire/ --  Allegiant Travel Company /zigman2/quotes/208507686/composite ALGT +1.86% today reported preliminary passenger traffic results for June 2020 as well as second quarter 2020.

"We continued to see modest demand improvements throughout the month of June, building upon May's demand increases," stated Gregory Anderson, executive vice president, chief financial officer and principal accounting officer of Allegiant Travel Company. "Gross bookings for the month of June averaged more than $4 million per day, bringing the average daily gross bookings for the second quarter to over $2.5 million. June's bookings exceeded our expectations, thus the average daily cash burn for the second quarter was $900 thousand, down from our previous forecast of $1.75 million. However, within the last two weeks, several states have reported increases in the number of people with the virus, which has negatively impacted bookings and tempered expectations into the third quarter. Therefore, utilizing the average daily bookings from the second quarter of $2.5 million, we now expect daily cash burn will be approximately $750 thousand during the third quarter. We recognize the situation is fluid, and that demand could be impacted by additional shutdowns and required quarantines in our markets. As a result, we remain focused on finding ways to eliminate costs and preserve cash. We continue to keep our finger on the pulse and will leverage the flexibility of our model to pull back capacity to match demand levels in the coming months."

"During the month of June we operated 70 percent of our schedule while increasing load factor by nearly 10 points from May to 57.3 percent," stated Drew Wells, vice president of revenue. "Capacity was down 17.5 percent for the month of June as compared with 2019, but peak day available seat miles actually grew 3.5 percent from prior year. Allegiant travelers represented roughly 6 percent of all travelers going through a TSA checkpoint in the month, and that trend continued into the Fourth of July weekend. We expect to operate roughly 75 percent of our schedule into the third quarter but will make any necessary adjustments as dictated by demand trends."

 

Scheduled Service


June 2020 June 2019 Change
Passengers 867,207 1,594,128 (45.6%)
Revenue passenger miles (000) 745,608 1,355,240 (45.0%)
Available seat miles (000) 1,301,559 1,576,993 (17.5%)
Load factor 57.3% 85.9% (28.6 pts)
Departures 8,940 11,176 (20.0%)
Average stage length (miles) 846 828 2.2%

2nd Quarter 2020 2nd Quarter 2019 Change
Passengers 1,266,077 4,131,855 (69.4%)
Revenue passenger miles (000) 1,107,534 3,603,076 (69.3%)
Available seat miles (000) 2,174,683 4,311,182 (49.6%)
Load factor 50.9% 83.6% (32.7 pts)
Departures 14,683 29,567 (50.3%)
Average stage length (miles) 855 853 0.2%

                                                                       

Total System*


June 2020 June 2019 Change
Passengers 868,927 1,606,651 (45.9%)
Available seat miles (000) 1,315,304 1,618,098 (18.7%)
Departures 9,105 11,478 (20.7%)
Average stage length (miles) 839 827 1.5%

    Change
Passengers 1,273,258 4,169,536 (69.5%)
Available seat miles (000) 2,220,755 4,447,066 (50.1%)
Departures 15,089 30,547 (50.6%)
Average stage length (miles) 850 853 (0.4%)

*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 Fuel Results

$ per gallon
June 2020 estimated average fuel cost per gallon – system $1.17



$ per gallon
2nd quarter 2020 estimated average fuel cost per gallon – system $1.08


Allegiant Travel Company

Las Vegas-based Allegiant /zigman2/quotes/208507686/composite ALGT +1.86% 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
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SOURCE Allegiant Travel Company

COMTEX_367879493/2454/2020-07-09T09:00:14

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/zigman2/quotes/208507686/composite
US : U.S.: Nasdaq
$ 123.76
+2.26 +1.86%
Volume: 115,099
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$2.01 billion
Rev. per Employee
$427,441
loading...
/zigman2/quotes/208507686/composite
US : U.S.: Nasdaq
$ 123.76
+2.26 +1.86%
Volume: 115,099
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$2.01 billion
Rev. per Employee
$427,441
loading...

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