Spirit Airlines lowered its revenue estimate, citing a decline in non-ticket revenue. That refers to things like bag fees and picking your own seat, which can cost hundreds of dollars. In June, United's CEO criticized the ultra-low-cost carrier business model, saying customers "hate it." Insider Today NSIDER TODA Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Access your favorite topics in a personalized f ...

Core Viewpoint - Spirit Airlines is expected to report a larger-than-anticipated loss for the last quarter due to revenue falling short of expectations [1] Company Summary - Spirit Airlines shares declined approximately 6% in after-hours trading following the release of its investor update in a securities filing [1]

"We are very pleased that Richard Wallman has agreed to join our board," said H. McIntyre "Mac" Gardner, Spirit's Chairman of the Board. "Richard is a wise and respected business leader, with a deep background in financial management, corporate development, and diverse experience on public and private company boards. Richard will be a tremendous resource to the Spirit management team." Spirit Airlines (NYSE: SAVE) is committed to delivering the best value in the sky. We are the leader in providing customiza ...

Photos and video available HERE The airline is also offering members of its Free Spirit® loyalty program 1,500 bonus points on roundtrip flights and 750 bonus points on one-way flights to and from Los Angeles (LAX).*** Travel must be booked by Aug. 15, 2024, and flown by Oct. 31, 2024. | --- | --- | --- | |---------------------------------------|--------------|-------------------| | | | | | Los Angeles (LAX) Service Destination | Frequency | Anniversary Fares | | Atlanta (ATL) | 2x Daily | $57* one way | | ...

Let's delve deeper. Unimpressive Price Performance: Spirit Airlines has declined 82.7% in the past year against its industry's 7.3% growth. In the first quarter of 2024,Labor costs, comprising salaries and benefits (accounting for 29.3% of the total operating expenses), rose by 10.9% year over year to $431.5 million in the first quarter of 2024. Stocks to Consider The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters ...

Spirit's challenges stand out when compared to the "big four" U.S. airlines. Delta, Southwest, American, and United all reported positive sales growth in their most recent quarters. Moreover, they were all profitable in 2023. But the stock is dirt cheap right now. It trades a price-to-sales ratio of just 0.076. This is close to the cheapest shares have ever been. It appears as though the pessimism has never been higher. In order to try and stabilize the business, the management team is making cost cuts. And ...

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 ...