Spirit Airlines Expects Its Load Factor To Average Approximately 70% In Fourth Quarter

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.

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