EXHIBIT 99.1 Spirit Airlines Reports Second Quarter 2024 Results Ended the Second Quarter 2024 with $1.14 Billion of Liquidity DANIA BEACH, Fla., August 1, 2024 - Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today reported second quarter 2024 financial results. | --- | --- | --- | |-----------------------------------|------------------|--------------------------| | | As Reported | (unaudited) \n1 Adjusted | | Total operating revenues | $1,280.9 million | $1,280.9 million | | Operating inco ...

Ended the Second Quarter 2024 with $1.14 Billion of Liquidity DANIA BEACH, Fla., Aug. 1, 2024 /PRNewswire/ -- Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today reported second quarter 2024 financial results. Second Quarter 2024 Financial Results | --- | --- | --- | |-------------------------------------------------------|------------------------------|--------------------------| | | (unaudited) | | | | As Reported | Adjusted1 | | Total operating revenues | $1,280.9 million | $1,280.9 mill ...

Core Insights - Spirit Airlines is introducing new pricing options to enhance customer experience by offering more perks for higher seat prices [1][6]. Pricing Options - The new seating options will be rolled out in two phases: "Go" and "Go Savvy" starting on August 16, and "Go Comfy" and "Go Big" starting on August 27 [5][6]. - The four new options include: - **Go Big**: Offers a Big Front Seat, snacks and drinks (including alcohol), one carry-on bag, one checked bag, priority check-in and boarding, and streaming access [7]. - **Go Comfy**: Provides increased comfort with a blocked middle seat, one carry-on bag, one checked bag, priority boarding, and a snack with a non-alcoholic beverage [7]. - **Go Savvy**: Includes either one carry-on bag or one checked bag and standard seat selection during booking [7]. - **Go**: Features budget pricing with the option to purchase checked bags, standard seat selection, WiFi, and snacks and beverages [7]. Market Reaction - Spirit Airlines' stock (SAVE) has seen a slight decline as of Wednesday morning [3].

The airline has been losing money despite booming travel demand, raising questions about its ability to manage debt that is due to mature in 2025 and 2026. The airline has been losing money despite booming travel demand, raising questions about its ability to manage debt that is due to mature in 2025 and 2026. Getty Images A greater willingness on the part of air travelers to pay up for more comfort and a better experience has prompted US carriers to find ways to attract them. Spirit Airlines said there wil ...

Core Insights - Spirit Airlines is launching new premium offerings to enhance the low-fare travel experience starting August 2024 [1][2] - The new options aim to provide travelers with elevated experiences at affordable prices, responding to customer feedback [2] New Travel Options - Spirit will introduce four new travel options: Go Big, Go Comfy, Go Savvy, and Go, all available for booking starting August 16, 2024, and launching the new experience by August 27, 2024 [2][4][5] - Go Big includes a Big Front Seat®, snacks and drinks (including alcohol), one carry-on bag, one checked bag, priority check-in and boarding, and streaming access through the fastest Wi-Fi of any U.S.-based airline [3] - Go Comfy offers increased comfort with a guaranteed blocked middle seat, one carry-on bag, one checked bag, priority boarding, and a snack and non-alcoholic beverage [4] - Go Savvy provides the choice of either one carry-on bag or one checked bag and standard seat selection during booking [4] - Go is the most affordable option, allowing travelers to purchase additional services like checked bags and snacks [5] Enhanced Services - A designated priority check-in experience will be available for Go Big passengers and Free Spirit® Gold members at over 20 airports starting August 27, 2024 [6] - The new boarding process will feature five groups to reduce boarding time and enhance operational performance, with priority boarding for specific passenger categories [7] Guest-Friendly Policies - Spirit Airlines has introduced new guest benefits, including no change or cancellation fees, increased checked bag weight allowance up to 50 pounds, and extended Future Travel Vouchers expiration to 12 months for vouchers issued on or after June 3, 2024 [8]

Spirit Airlines (SAVE 2.78%) has experienced nothing but turbulence lately. The company is dealing with the fallout of a failed merger attempt with JetBlue and has struggled to get on better financial footing. Perhaps a successful turnaround is on the horizon. Should investors buy this struggling airline stock? After the proposed merger with JetBlue was blocked by a federal judge earlier this year, it seemed like shareholders were disappointed. The objective of the deal was to create a more powerful domesti ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Spirit (SAVE) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move ...

Fri JUL 19 2024 12:38 PM ET 18.00 14.00 10.00 6.00 2.77 Jul In no huge surprise, Spiritt Airlines, Inc. (NYSE:SAVE) is set to report a weak Q2 as domestic yieds dipped due to overcapacity. The airtline sector is quickly adjusting capacity to match what's actually record passenger travel in a sign of how the sector has evolved over time. My investment thesis remains Ultra Bullish on the stock with a fare turnaround set to occur in the next 30 days. Source: Finviz Spirit Airlines released weak preliminary num ...

Core Viewpoint - Spirit Airlines is facing significant challenges due to softening demand trends in the airline industry, leading to a downward revision of its financial outlook and concerns about its long-term viability [1][2][3]. Financial Outlook - Spirit Airlines expects to report $1.28 billion in revenue for the second quarter, a decrease from previous guidance of $1.32 billion to $1.34 billion [4]. - The airline anticipates an adjusted loss of $173 million to $160 million, which is a significant increase from the earlier loss estimate of $145 million to $120 million [4]. - The company ended the first quarter with $1.2 billion in cash, but projections indicate this amount will likely decrease in the second quarter [10]. Market Reaction - Following the negative outlook and analyst downgrade, Spirit's shares dropped by 11% in late afternoon trading [8]. - There is a heavy short interest in Spirit's stock, indicating potential volatility in the near term [6]. Company-Specific Issues - Spirit Airlines is dealing with the aftermath of its proposed sale to JetBlue Airways being blocked by regulators, which has created additional operational challenges [9]. - The airline is also affected by an RTX engine issue that has grounded part of its fleet, further complicating its recovery efforts [9]. Analyst Insights - TD Cowen analyst Thomas Fitzgerald downgraded Spirit to a sell from a hold, expressing skepticism about the company's path to profitability through 2026 and highlighting the risk of restructuring or bankruptcy [10].

Core Insights - Spirit Airlines has warned that its second-quarter loss will exceed previous expectations, with revenue also falling short of earlier forecasts [1] - The airline attributes these disappointing results to lower-than-expected non-ticket revenue, which includes fees for baggage and seat selections [2] - Following this announcement, Spirit Airlines' shares dropped to an all-time low, reflecting a significant decline in market confidence [1][2] Financial Performance - The company anticipates an adjusted operating loss of between $160 million and $173 million for the second quarter, compared to an earlier estimate of $121 million to $145 million [1] - Projected revenue for the second quarter is now expected to be $1.28 billion, down from a previous outlook of $1.32 billion to $1.34 billion [1] Non-Ticket Revenue Analysis - Non-ticket revenue per passenger was reported at $64, which is several dollars lower than initial estimates [2] - The underperformance in non-ticket revenue is attributed to changes in the competitive marketplace affecting ancillary pricing [2] Market Reaction - Spirit Airlines' shares fell nearly 11% to $2.82, marking an all-time low, and the stock has lost over 80% of its value this year [2]