Allegiant reports USD 4m per day gross bookings in June 2020

Allegiant Travel Company (NASDAQ: ALGT) has reported gross bookings for the month of June averaged more than USD 4 million per day, bringing the average daily gross bookings for the second quarter to over USD 2.5 million, the company said.

Average daily cash burn for the second quarter was USD 900,000, down from the previous forecast of USD 1.75 million.

During the month of June, Allegiant operated 70% of its schedule while increasing load factor by nearly 10 points from May to 57.3%.

Capacity was down 17.5% for the month of June as compared with 2019. Available seat miles actually grew 3.5% from prior year.

Allegiant said it expects to operate roughly 75% of its schedule into the third quarter but will make any necessary adjustments as dictated by demand trends.

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.