Allegiant Travel Company sees 'steady' improvements in Sep-2020 bookings: CFO

9 October, 2020

Allegiant Travel Company EVP and CFO Gregory Anderson announced (08-Oct-2020) average daily cash burn of approximately USD1.3 million in 3Q2020, as well as average daily gross bookings of more than USD2.0 million, "due primarily to steady improvements in bookings throughout the month of Sep-2020". The carrier's liquidity position is more than USD850 million, which in addition to the cash burn rate, the company believes "not only bolsters liquidity further, but provides enhanced flexibility to best respond to the fluid environment". Daily cash burn is expected to be "well below" USD1 million in 4Q2020, "based on the assumption of average daily gross bookings of more than USD2.0 million, which is inclusive of the remaining USD5 million payment to Sixth Street Partners". Allegiant Travel Company VP of revenue Drew Wells expounded: "We will continue to approach the fourth quarter by maintaining a wide selling footprint... This approach has been effective at capturing demand as it returns... We continue to monitor bookings and will make any necessary cuts to the schedule as dictated by demand trends". [more - original PR]