Why Spirit Airlines Rocketed Over 100% Higher This Week

Spirit may have staved off bankruptcy, at least for the moment. Shares of discount airline Spirit Airlines (SAVE 22.76%) rocketed 105.4% higher through Friday trading at 10:30 a.m. ET, according to data from S&P Global Market Intelligence. Spirit's equity had become distressed after a difficult operational year and after a federal judge blocked its merger with JetBlue in January. With a key deadline looming last week, Spirit announced an extension to refinance its 2025 bonds. Additionally, news of a potenti ...