Allegiant Travel Company reported a GAAP fully diluted loss per share of $(1.82) for the third quarter of 2020. The company's total operating revenue was $201.0 million, a 54.0% decrease compared to the previous year. The airline saw modest improvements during the quarter and into the fourth, with consumer confidence towards air travel improving.
Completed the quarter beating consensus with a loss per share of $4.28, excluding one-time, special items, and the benefit from the CARES Act.
Scheduled capacity year-over-year was down less than seven percent.
Revenue is trending in the right direction with September totals down 43 percent versus prior year.
Pro forma cash balance of $850 million.
Anticipate fourth quarter capacity to be reduced by 15 percent from prior year but will continue to adjust based on demand trends. Minimal close-in cancellations during the third quarter and anticipate the fourth quarter will be similar.
Visualization of income flow from segment revenue to net income
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