American low cost carrier Spirit Airlines has said that it expects its load factor for the fourth quarter to average approximately 70%.
Fewer Bookings And Rising Cancellations
The company said that beginning with the period leading up to the Thanksgiving holiday, rising COVID-19 cases have led to fewer bookings and a rise in cancellations.
Q4 Daily Cash Burn Expectation, Ticket Revenue Pressure And Choppy Recovery
Spirit also said that it expects to burn approximately $2 million daily in the fourth quarter, and warned of significant pressure on ticket revenue and a choppy recovery that will be difficult to predict.