The company is reportedly back in merger talks with Frontier.Merger talks between Frontier Group Holdings (ULCC 0.67%) and Spirit Airlines (SAVE 43.55%) are reportedly heating up again, and investors are excited about the possibility.Shares of Spirit soared as much as 50% at the open on Wednesday and traded up about 40% as of 11 a.m. ET.Third time's the charm?The future of Spirit Airlines has been up in the air for some time now. In 2022, the airline agreed to combine with Frontier but JetBlue Airways stepp ...

Core Viewpoint - Spirit Airlines shares surged by up to 65% following a two-month extension of its debt refinancing plan, providing the airline with additional time to manage its $1.1 billion loyalty bonds due next year [1][2]. Financial Situation - Spirit Airlines has fully utilized its $300 million revolving credit facility and anticipates ending the year with over $1 billion in liquidity [1]. - Despite the recent share price increase, Spirit's stock is down nearly 90% year-to-date, contrasting with a 33% increase in the S&P 500 Passenger Airlines index during the same period [3]. Operational Challenges - The airline has struggled to compete in a crowded market as travel demand surged post-pandemic, compounded by the collapse of its $3.8 billion merger with JetBlue Airways due to an antitrust lawsuit [2][3]. - Spirit has not turned a profit in five of the last six quarters, prompting the introduction of premium seating options and enhanced passenger benefits to attract customers [3]. Cost-Cutting Measures - The company plans to cut costs by downgrading approximately 100 captains, offering unpaid voluntary leave to flight attendants, and pausing the hiring and training of new pilots and flight attendants [3]. - Spirit previously announced plans to furlough about 240 pilots and delay Airbus deliveries [4]. Industry Context - The airline industry is facing oversupply issues, particularly during busy travel seasons, which has affected Spirit's competitive position [3]. - Spirit was significantly impacted by an RTX engine defect that required the grounding of flights, further exacerbating its financial difficulties [5].

ToplineSpirit Airlines’ stock swelled by 60% on Monday, on track for the low-cost airline’s best day since going public, after the carrier announced an extension to refinance its debt while temporarily avoiding the threat of bankruptcy.The budget airline fell to a new record earlier this month as it reportedly considered bankruptcy.GC Images Key FactsSpirit’s shares increased to over $2.30 as of around 1:15 p.m., pacing the stock’s best day since a 37% spike on March 24, 2020. On Friday, Spirit disclosed a ...

A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport in Austin, Texas, on Feb. 12, 2024. Spirit Airlines shares closed at a fresh low on Friday ahead of a looming deadline to refinance more than $1.1 billion in debt. The airline's stock closed down roughly 3%, at less than $1.50 per share. The budget carrier had extended that deadline with credit card processor U.S. Bank to Monday, from a previous date in September. The Miramar, Florida-b ...

Frankie Muniz travels comfy with Spirit's blocked middle seat Spirit giving away 10 pairs of Go Comfy tickets in #NotInTheMiddle social media giveaway DANIA BEACH, Fla., Oct. 17, 2024 /PRNewswire/ -- Spirit Airlines' (NYSE: SAVE) newest ad takes flight with actor Frankie Muniz, best known for his iconic role as the middle child in a beloved sitcom that aired in the early 2000s. Muniz is decidedly #NotInTheMiddle in Spirit's playful new ad in which he enjoys the extra elbow room of Spirit's Go Comfy travel o ...

Spirit Airlines Inc SAVE is facing turbulent skies ahead. While the broader airline industry is flying high, Spirit's financial woes are pushing it toward a potential bankruptcy. With debt piling up and its stock plummeting, the budget carrier is now fast-tracking the retirement of its Airbus A319 fleet. Investors are left wondering: Can Spirit pull off a turnaround, or is this the beginning of the end? What Happened? Spirit Airlines is expediting the retirement of its Airbus A319 fleet, with final flights ...

A downtrend has been apparent in Spirit (SAVE) lately with too much selling pressure. The stock has declined 36.3% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround. Here is How to Spot Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotti ...

Travelers can enjoy limited-time fares starting at $49 one-way and a Free Spirit® bonus points promotion DANIA BEACH, Fla., Oct. 15, 2024 /PRNewswire/ -- Spirit Airlines (NYSE: SAVE) is celebrating its new Alabama service today, following the Oct. 10 launch of its daily, nonstop service from BirminghamShuttlesworth International Airport (BHM) to Fort Lauderdale-Hollywood International Airport (FLL). Spirit's introduction of the only nonstop flight from Birmingham to Fort Lauderdale provides affordable optio ...

Unfortunately, Spirit Airlines (NYSE: SAVE ) shares have continued to fall off since the last research report I wrote on them in August. In late August, when I last wrote on the struggling This account is managed by Noah's Arc Capital Management. Our goal is provide Wall Street level insights to main street investors. Our research focus is mainly on 20th century stocks (old economy) undergoing a 21st century transformation, but occasionally we'll write on companies that help transform 20th century firms as ...

Spirit Airlines shares tumbled to a record low on Friday after a report that it's exploring Chapter 11 bankruptcy protection. The carrier faces a deadline this month to renegotiate more than $1 billion in debt. A bankruptcy filing would mark a dramatic turn for the carrier with its iconic yellow planes that caters to budget-conscious travelers. Profitable and punctual before the pandemic, Spirit's no-frills service became a punchline for late-night comedians and a thorn in the side of big network carriers, ...