Dana Shapir Alviene Appointed to SVP, Inflight and Airport Experience and Tomas Ranaldi Promoted to VP, Financial Planning & Analysis Cromer brings three decades of experience in the aviation industry, with expertise in financial management, strategic planning, treasury and operations. Cromer has held numerous executive positions over his career, most recently serving as Chief Executive Officer, and previously Chief Financial Officer, of Xwing, Inc., a fastgrowing aviation technology company and pioneer in ...

Spirit Airlines to offer the only nonstop flight from Birmingham (BHM) to Fort Lauderdale (FLL) this October DANIA BEACH, Fla., June 18, 2024 /PRNewswire/ -- Low-fare travel will take flight at BirminghamShuttlesworth International Airport (BHM) starting this fall. Today, Spirit Airlines (NYSE: SAVE) announced it is bringing affordable air service to BHM beginning October 10, 2024, with the only nonstop flight from BHM to Fort Lauderdale (FLL). Spirit's launch at Birmingham will mark the first time the airl ...

Company Leadership Changes - Spirit Airlines has appointed Brian McMenamy as the interim chief financial officer (CFO), effective June 14, 2024, succeeding Scott Haralson, who has served for nearly 11 years [1] - Scott Haralson will remain in his role until June 14, 2024, before transitioning to a CFO position at a larger publicly traded company outside the airline industry [1][2] Executive Background - Brian McMenamy has nearly 40 years of financial expertise in the airline industry, having joined Spirit Airlines in 2017 after a 33-year tenure at American Airlines in various finance roles [2][3] Financial Outlook - Spirit Airlines anticipates cost-saving initiatives to enhance 2024 performance by over $75 million, with annualized run-rate savings estimated at over $100 million [3]

Guests benefit from increased weight allowance for checked bags and no change or cancel fees DANIA BEACH, Fla. , June 4, 2024 /PRNewswire/ -- Spirit Airlines (NYSE: SAVE) today announced exciting new benefits for Guests that add value and provide greater flexibility. Travelers can now take advantage of the airline's first of many new milestones toward an enhanced Guest experience with more flexible policies. In addition to Spirit's recently launched no change or cancel fee policy, Guests can now enjoy: Incr ...

Appoints Brian McMenamy as Interim Chief Financial Officer Current CFO Scott Haralson to Join Larger Publicly Traded Company Outside of Airline Industry as CFO DANIA BEACH, Fla., June 3, 2024 /PRNewswire/ -- Spirit Airlines (NYSE: SAVE) today announced that Brian McMenamy, Vice President and Controller, has been named as Interim Chief Financial Officer, effective June 14, 2024. McMenamy succeeds Scott Haralson, Executive Vice President and Chief Financial Officer, who is departing to become CFO of a larger, ...

DANIA BEACH, Fla., May 24, 2024 /PRNewswire/ -- Spirit Airlines (NYSE: SAVE) today announced the opening of a new crew base for Pilots at Newark Liberty International Airport (EWR) in September 2024, furthering the airline's investments to enhance operational reliability. Spirit expects to locate approximately 200 Pilots in Newark initially, with additional supervisors and support functions to follow. Crew bases are the various airport stations where flight crews typically begin and end their trips. Newark ...

Active-duty U.S. military service members, their spouses and children are entitled to two free checked bags and one free carry-on bag when traveling with the service member DANIA BEACH, Fla., May 24, 2024 /PRNewswire/ -- Spirit Airlines (NYSE: SAVE) is saluting our U.S. military service members and their families with the special thanks they deserve. Today, the airline announced it is extending the existing benefits for active-duty U.S. military service members to their spouses and all their children when t ...

Spirit launched service at SJC in June 2023 and currently offers nonstop flights to Dallas-Fort Worth (DFW), Las Vegas (LAS) and San Diego (SAN). Spirit's Elevated Guest Experience Proposed service would introduce low-fare competition and create the only nonstop service between Silicon Valley and Washington, D.C. DANIA BEACH, Fla., May 23, 2024 /PRNewswire/ -- Spirit Airlines (NYSE: SAVE), in partnership with San José Mineta International Airport (SJC), today announced it will apply to the U.S. Department o ...

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Spirit Airlines and its executives, following disappointing financial results for Q1 2024 [1][2]. Financial Performance - Spirit Airlines reported a 6.2% year-over-year decline in operating revenues, resulting in a loss of $1.46 per share for Q1 2024 [2]. - The company experienced a 16.3% drop in fare revenue per segment and a 1.4% decrease in non-ticket revenue [2]. - Load factor saw a slight decline of 0.1%, indicating challenges in maintaining passenger capacity [2]. Market Reaction - Following the announcement of the financial results, Spirit's stock price fell by $0.36 per share, or 9.7%, closing at $3.35 per share on May 6, 2024 [2]. Competitive Environment - Spirit's CEO, Ted Christie, highlighted that the competitive environment remains challenging due to elevated capacity in many of the markets served by the airline [2].

The discount airliner can't seem to generate positive free cash flow. It has been a rough 2024 for Spirit Airlines (SAVE 2.28%). Well, a rough last 10 years, if we're being honest. The discount airliner's proposed merger with Jet Blue was blocked by the U.S. government and it just reported another weak quarter of negative cash flow. It has struggled to generate profits for years and has a looming debt load that has major investors concerned. Today, shares trade at a cheap looking $3.75, off over 95% from al ...