Allegiant Travel Company sees 'improvement in demand', records daily gross bookings at USD2m

Allegiant Travel Company EVP and CFO Greg Anderson reported (09-Jun-2020) the carrier averaged more than USD2 million in daily gross bookings in May-2020, and is "continuing to see material improvement in demand from the April lows". Daily cash burn is now anticipated to be approximately USD1.75 million for 2Q2020, compared to previous estimates of USD2.1 million per day. Provided gross bookings remain consistent at USD2 million daily, the carrier projects that cash burn for 3Q2020 will be less than USD1 million per day. Allegiant Travel Company VP of revenue and planning Drew Wells mentioned demand trends for May-2020 were "stronger than anticipated", with Allegiant making up "approximately 8% of all travellers going through a TSA checkpoint" during Memorial Day weekend, compared to 2% in 2019. "With Las Vegas casinos opening early June, we expect modest improvements to continue throughout the month", Mr Wells stated. [more - original PR]