Spirit Airlines

Spirit Airlines, Inc. is an airline that offers travel to customers. Its operations are concentrated in markets such as South Florida, the Caribbean, Latin America and the Northeast and Northern Midwest regions of the United States. The firm offers travel insurance, carry-on and checked baggage, online booking, and other services. The company was founded by Ned Homfeld in 1964 and is headquartered in Miramar, FL.

Earnings data Q4 2020

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Spirit Airlines reports strong Q4 revenue, eyes growth amid challenges

Spirit Airlines navigated challenges in Q4 2022 while maintaining strong revenue performance and anticipating growth in Q1 2023.
The company faces operational hurdles with engine issues and delivery delays but is focused on financial improvement and operational enhancements.
Despite facing off-peak demand weakness and cost challenges, Spirit Airlines is optimistic about revenue growth and operational optimization opportunities.
Capacity adjustments and strategic initiatives position Spirit Airlines for improved performance and efficiency in the coming quarters.

Spirit Airlines posts robust Q1 results amidst operational challenges

Spirit Airlines delivered strong Q1 results despite challenges, focusing on operational improvements, cost efficiency, and network optimization. The company is addressing current constraints to achieve normalized profitability and aims for double-digit margins in the future.

Spirit Airlines faces operational challenges but stabilizes pilot attrition

Spirit Airlines' Q2 performance was impacted by operational challenges and lower fare levels, with the GTF engine issues affecting revenue and future operations. Despite these challenges, the company is focused on stabilizing operations, retaining pilots, and driving future growth through productivity and resolving key issues.

Spirit Airlines reports Q4 revenue decline, eyes profitability in 2024

Spirit Airlines navigates challenges from regulatory issues and cost pressures while focusing on revenue management and cost optimization to achieve positive margins in 2024.
Despite a decrease in total revenue, the airline sees improvements in unit revenue and aims to capitalize on opportunities like network reconfiguration and fuel efficiency enhancements.
Stable liquidity, ongoing recovery efforts, and a strategic outlook for 2024 position Spirit Airlines to weather challenges and drive profitability through operational improvements.
Analyst questions highlighted concerns about breakeven targets, labor cost rightsizing, and GTF engine compensation timing, indicating a focus on addressing key operational and financial issues.

Spirit Airlines addresses challenges, targets profitability with strategic initiatives

Spirit Airlines navigated revenue challenges and operational hurdles in Q1 2024, focusing on strategic network changes and cost reduction initiatives. The company aims to achieve operating profitability in the upcoming quarters, emphasizing adaptability to market trends and customer preferences.

U.S. Energy Initiatives Corp. is a diverse energy firm, which develops hybrid fuel systems and technologies. It engages in the production of biofuel, as well as develops products and services for the medical marijuana and hemp sectors. The company was founded in 1996 and headquartered in Woodland Hills, CA.

Spirit Airlines CEO Ted Christie said Thursday that the carrier has to ground seven Airbus A320neo planes through the end of the year over an issue with Pratt & Whitney's GTF engines, calling it another "disappointing development."

Spirit to ground 7 planes over engine issue

Spirit Airlines, Inc. (NYSE:SAVE ) Q2 2023 Earnings Conference Call August 3, 2023 10:00 AM ET Company Participants Vivian Taveras - Investor Relations Manager Ted Christie - President and Chief Executive Officer Matthew Klein - Executive Vice President & Chief Commercial Officer Scott Haralson - Executive Vice President and Chief Financial Officer Conference Call Participants Conor Cunningham - Melius Research Duane Pfennigwerth - Evercore ISI Scott Group - Wolfe Research Jamie Baker - JPMorgan Chase Stephen Trent - Citi Thomas Fitzgerald - TD Cowen Michael Linenberg - Deutsche Bank Daniel McKenzie - Seaport Global Savanthi Syth - Raymond James Operator Thank you for standing by. My name is Adam, and I'll be your conference operator today.

Spirit Airlines, Inc. (SAVE) Q2 2023 Earnings Call Transcript

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Airlines have enjoyed a surge in demand, but their commentary on the quarters to come suggest higher rates and a slowing economy might be catching up with the consumer. The industry is well positioned to weather a downturn, but is unlikely to outperform if demand slows.

Why JetBlue, Spirit, and Frontier All Lost Altitude This Week

Spirit Airlines will have to ground seven Airbus' A320neo jets after the Labor Day holiday in September through the end of the year due to a snag with RTX's Pratt & Whitney engines, Chief Executive Officer Ted Christie said on Thursday.

Spirit Airlines to ground seven aircraft due to Pratt & Whitney's new engine problem -CEO

Spirit Airlines Inc.'s stock SAVE, -4.85% fell 1.7% in premarket trade Thursday, after the low-cost airline . Miramar, Fla.

Spirit Airline's stock slides 3% after earnings fall short amid softer-than-expected peak travel demand

Spirit (SAVE) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.38 per share. This compares to loss of $0.30 per share a year ago.

Spirit (SAVE) Lags Q2 Earnings and Revenue Estimates

MIRAMAR, Fla. , Aug. 3, 2023 /PRNewswire/ -- Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today reported second quarter 2023 financial results.

Spirit Airlines Reports Second Quarter 2023 Results

JetBlue and Spirit on Tuesday in U.S. court called a consumer lawsuit over the airlines' merger plan "vague" and "speculative" and said it should be rejected as the U.S. Justice Department pursues a case against the $3.8 billion deal.

JetBlue, Spirit slam 'speculative' consumer lawsuit fighting $3.8 billion merger

Spirit (SAVE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Spirit (SAVE) Reports Next Week: Wall Street Expects Earnings Growth

NEW YORK--(BUSINESS WIRE)--As previously announced, in connection with the Agreement and Plan of Merger, dated as of July 28, 2022 (the “Merger Agreement”), by and among JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU), Sundown Acquisition Corp., and Spirit Airlines, Inc. (“Spirit”) (NYSE: SAVE), JetBlue has set July 25, 2023, as the record date for the July 2023 prepayment to Spirit stockholders of $0.10 per Spirit share (the “July 2023 Additional Prepayment”), with payment of the July 2.

JetBlue Announces Record and Payment Dates for July 2023 Additional Prepayment to Spirit Stockholders

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The airline industry expects demand to soar coming out of the pandemic. What does that mean for airline stocks?

Airline Stocks Are Flying High As Air Travel Demand Increases; Are They A Buy Or A Sell?

JetBlue Airlines NASDAQ: JBLU stock is declining by as much as 6.5% during Thursday's trading session, even after initially positive news regarding a tough but strategic decision by management. Executives have decided to break away from the airline's alliance with American Airlines NASDAQ: AAL.

JetBlue Ends Alliance With American, Chance Of Spirit Merger?

The U.S. Department of Justice's lawsuit against the JetBlue and Spirit Airlines merger may be weakened due to the Northeast Alliance ban and JetBlue's divestiture of assets to Frontier Airlines. JetBlue's willingness to give up slots shows the company's intent to divest all assets that could cause a monopoly, nullifying one of DOJ's key arguments. With merger potential increasing, Spirit Airlines is a buy as JetBlue will acquire Spirit for $33.50 per share upon approval.

JetBlue And Spirit Merger Potential Gets Stronger

JetBlue Airways' decision to abandon its alliance with American Airlines has improved its chances in the trial over a $3.8 billion deal to buy Spirit Airlines , but may not be enough to hand it a victory, antitrust experts said.

Analysis: Will abandoning American help JetBlue's Spirit merger? Not by much

The airline sector is making headlines today, after news that JetBlue Airways Corp (NASDAQ:JBLU) is ditching its alliance with American Airlines Group Inc (AAL) in order to save its deal with Spirit Airlines Inc (NYSE:SAVE).

2 Airlines Making Moves on Merger Updates

Spirit Airlines (NYSE: SAVE ) stock is on the move Thursday as investors react to a recent decision made by JetBlue Airways (NASDAQ: JBLU ). The big news here is JetBlue Airways ending its collaboration with American Airlines (NASDAQ: AAL ).

SAVE Stock Alert: How JetBlue Is Lifting Spirit Airlines Today

JetBlue hopes to salvage its $3.8 billion Spirit acquisition by ending the Northeast Alliance with American Airlines following a court ruling.

JetBlue Exits American Airlines Partnership to Salvage Spirit Acquisition

JetBlue Airways (NASDAQ:JBLU) announced it will comply with a US judge's order from May to terminate its alliance with American Airlines Group (NASDAQ:AAL) to safeguard its planned $3.8 billion acquisition of Spirit Airlines. While JetBlue expressed strong disagreement, the company stated that it will not appeal the court's ruling.

JetBlue ends alliance with American Airlines to protect Spirit Airlines merger

JetBlue Airways is ending its alliance with American Airlines following a judge's ruling that it was anti-competitive in the hopes of saving a pending merger with Spirit Airlines.

JetBlue to end alliance with American in an attempt to save Spirit merger

JetBlue Airways, seeking to protect a planned $3.8 billion purchase of Spirit Airlines, said on Wednesday it would follow a US judge's May order that it end an alliance with American Airlines.

JetBlue says it will end alliance with American to save Spirit merger deal

JetBlue said it will end a partnership with American Airlines in the Northeast after losing a court fight over the deal, and will instead focus on salvaging its proposed purchase of Spirit Airlines. JetBlue Airways said Wednesday that it will not appeal a federal judge's ruling blocking the deal with American.

JetBlue dumps partnership with American Airlines to salvage purchase of Spirit

JetBlue Airways Corp. JBLU said late Wednesday it will unwind a joint venture with American Airlines Group Inc. AAL in airports in the Boston and the New York City areas to “focus” on its merger with Spirit Airlines Inc. SAVE. JetBlue said it won't appeal a May court ruling siding with the Justice Department regarding the JV with American, called Northeast Alliance, and the unwinding process “will take place over the coming months,” the airline said.

JetBlue to end JV with American Airlines to ‘focus' on Spirit merger

A federal judge ordered last month JetBlue and American to undo their partnership in the Northeast, ruling it violated antitrust law.

JetBlue won't appeal ruling to block American Airlines partnership, will focus on Spirit acquisition

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The US airline industry is expected to regain pre-pandemic profitability due to lower oil prices and higher utilization rates. Airlines trade at a historically cheap multiple of revenue to enterprise value. Growing demand and rationalized competition should lead to better returns on capital in the future.

U.S. Airlines Are Too Cheap, Why This Rebound Looks Real

Spirit Airlines has reduced capacity forecasts driven by supply chain challenges for airplanes and engines. In case of approval for the combination with JetBlue, a significant upside remains but as a standalone business the company also can perform well. With its upgauging strategy, Spirit Airlines seems to be well positioned to drive down costs.

News for Spirit Airlines Stock (SAVE)