Key Takeaways Spirit Airlines warned that its second-quarter loss would be more than expected, and revenue would fall short of its previous outlook. The company blamed the worse numbers on less-than-anticipated non-ticket revenue. The news sent Spirit Airlines shares to an all-time low. Shares of Spirit Airlines (SAVE) fell to an all-time low Wednesday, a day after the discount carrier warned that its second-quarter loss and revenue would be worse than it had previously expected because non-ticket income ca ...

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 ...

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 said Tuesday it would post a deeper-than-expected loss for the last quarter because of revenue that came in short of its expectations. Shares of the budget airline were down about 6 % in extended trading after the airline released its investor update in a securities filing. ...

"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 ...

Zacks Rank and Stocks to Consider SAVE currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks for investors' consideration in the Zacks Transportation sector include GATX Corporation (GATX) and Trinity Industries, Inc. (TRN) . Each stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. GATX has an encouraging earnings surprise history. The company has surpassed the Zacks Consensus Estimate in three of the last four ...