Spirit Airlines

Spirit Airlines, Inc. is an airline that offers travel to customers. Its operations are concentrated in markets such as South Florida, the Caribbean, Latin America and the Northeast and Northern Midwest regions of the United States. The firm offers travel insurance, carry-on and checked baggage, online booking, and other services. The company was founded by Ned Homfeld in 1964 and is headquartered in Miramar, FL.

Earnings data Q4 2020

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Earnings data Q1 2022

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Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Spirit Airlines reports strong Q4 revenue, eyes growth amid challenges

Spirit Airlines navigated challenges in Q4 2022 while maintaining strong revenue performance and anticipating growth in Q1 2023.
The company faces operational hurdles with engine issues and delivery delays but is focused on financial improvement and operational enhancements.
Despite facing off-peak demand weakness and cost challenges, Spirit Airlines is optimistic about revenue growth and operational optimization opportunities.
Capacity adjustments and strategic initiatives position Spirit Airlines for improved performance and efficiency in the coming quarters.

Spirit Airlines posts robust Q1 results amidst operational challenges

Spirit Airlines delivered strong Q1 results despite challenges, focusing on operational improvements, cost efficiency, and network optimization. The company is addressing current constraints to achieve normalized profitability and aims for double-digit margins in the future.

Spirit Airlines faces operational challenges but stabilizes pilot attrition

Spirit Airlines' Q2 performance was impacted by operational challenges and lower fare levels, with the GTF engine issues affecting revenue and future operations. Despite these challenges, the company is focused on stabilizing operations, retaining pilots, and driving future growth through productivity and resolving key issues.

Spirit Airlines reports Q4 revenue decline, eyes profitability in 2024

Spirit Airlines navigates challenges from regulatory issues and cost pressures while focusing on revenue management and cost optimization to achieve positive margins in 2024.
Despite a decrease in total revenue, the airline sees improvements in unit revenue and aims to capitalize on opportunities like network reconfiguration and fuel efficiency enhancements.
Stable liquidity, ongoing recovery efforts, and a strategic outlook for 2024 position Spirit Airlines to weather challenges and drive profitability through operational improvements.
Analyst questions highlighted concerns about breakeven targets, labor cost rightsizing, and GTF engine compensation timing, indicating a focus on addressing key operational and financial issues.

Spirit Airlines addresses challenges, targets profitability with strategic initiatives

Spirit Airlines navigated revenue challenges and operational hurdles in Q1 2024, focusing on strategic network changes and cost reduction initiatives. The company aims to achieve operating profitability in the upcoming quarters, emphasizing adaptability to market trends and customer preferences.

U.S. Energy Initiatives Corp. is a diverse energy firm, which develops hybrid fuel systems and technologies. It engages in the production of biofuel, as well as develops products and services for the medical marijuana and hemp sectors. The company was founded in 1996 and headquartered in Woodland Hills, CA.

Spirit Airlines was expected to be one of the big travel industry winners after the pandemic. But the no-frills pioneer never found its wings in a changed business and operating landscape.

Spirit Airlines' struggle to navigate post-pandemic trends lands it in bankruptcy

The budget carrier's pivot to ultralow fares brought it success but competition, rising costs and a failed merger bid hurt the business.

How Spirit Airlines Went From Industry Maverick to Chapter 11 Bankruptcy

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Spirit Airlines, Inc. (the “Company”) — ticker symbol SAVE — from the NYSE. Trading in the Company's common stock will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.01D after the Co.

NYSE to Commence Delisting Proceedings Against Spirit Airlines, Inc. (SAVE)

Spirit Airlines announced Monday that it will enter prearranged Chapter 11 bankruptcy proceedings with backing from a supermajority of its bondholders.

‘You can continue to book and fly': Spirit Airlines says it will operate normally during Chapter 11 bankruptcy

Spirit Airlines, a pioneer in low-cost air travel, filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court of the Southern District of New York. The decision marks the first major US airline bankruptcy since American Airlines in 2011, and it follows years of financial strain worsened by failed mergers and evolving market demands.

Spirit Airlines files for Chapter 11: unpacking the turbulence and what's next

Biggest US budget airline says it expects to operate as normal as it works its way through Chapter 11 process

Spirit Airlines files for bankruptcy amid mounting financial losses

Spirit Airlines Inc. filed for a voluntary, pre-arranged Chapter 11 bankruptcy early Monday, capping a tumultuous period for the low-cost airline in which efforts to merge with two rivals fell through.

Spirit Airlines files for bankruptcy after tumultuous period in which two attempted mergers fell through

Spirit Airlines Inc has filed for bankruptcy protection under a bondholder-backed restructuring plan aimed at slashing debt. Under the pre-agreed deal, unveiled on Monday, bondholders will provide $300 million in debtor-in-possession financing before Spirit exits bankruptcy early next year.

Spirit Airlines files for bankruptcy under creditor-backed restructuring

Spirit Airlines (SAVE) said Monday it filed for bankruptcy protection and reached an agreement to restructure its debt with its bondholders.

Budget Carrier Spirit Airlines Files for Bankruptcy

Spirit said Monday that it has entered a restructuring agreement with its bondholders to reduce the debt on its balance sheet.

Spirit Airlines Files for Bankruptcy. What It Means for Flights.

The last bankruptcy by a major US carrier ended when American Airlines emerged from Chapter 11 protection and simultaneously merged with US Airways in December 2013.

Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom

Spirit Airlines has struggled to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue.

Spirit Airlines Files For Bankruptcy As Financial Losses Pile Up And Debt Payments Loom

Spirit Airlines has filed for Chapter 11 bankruptcy protection, the company announced Monday morning.

Spirit Airlines files for Chapter 11 bankruptcy protection

Spirit Airlines filed for Chapter 11 bankruptcy protection. The budget-travel icon said it will continue to fly.

What travelers need to know about Spirit Airlines' bankruptcy

Spirit Airlines has filed for Chapter 11 bankruptcy protection, it said Monday. The airline will continue to operate as normal, and all tickets remain valid, it added.

Spirit Airlines to keep flying after filing for bankruptcy protection

Spirit has struggled since its failed acquisition by JetBlue Airways, a Pratt & Whitney engine recall and weaker-than-expected sales. The company has faced mounting losses and has been against a deadline to renegotiate $1.1 billion in debt payments due next year.

Budget travel icon Spirit Airlines files for bankruptcy protection after mounting losses

Spirit Airlines has filed for bankruptcy protection after the pioneer of no-frills travel in the U.S. struggled with a long run of quarterly losses and significant debt, it disclosed on Monday.

Spirit Airlines files for bankruptcy

Flights, Ticket Sales, Reservations and All Other Operations Continue as Normal Restructuring Support Agreement Already Signed by a Supermajority of Spirit's Bondholders  Voluntary Prearranged Chapter 11 Proceedings Commenced to Implement the Agreed Deleveraging and Recapitalization Transactions  Receives Backstopped Commitments for $350 Million Equity Investment and $300 Million in Debtor-in-Possession Financing from Existing Bondholders; Vendors, Aircraft Lessors and Holders of Secured Aircraft Indebtedness to Be Paid in the Ordinary Course and Will Not be Impaired  DANIA BEACH, Fla., Nov. 18, 2024 /PRNewswire/ -- Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today announced that it has entered into a restructuring support agreement (the "RSA") supported by a supermajority of Spirit's loyalty and convertible bondholders on the terms of a comprehensive balance sheet restructuring.

Spirit Airlines Announces Comprehensive Agreement to Deleverage Balance Sheet and Position the Company for Long-Term Success as a Leading Low-Fare Carrier

DANIA BEACH, Fla., Nov. 18, 2024 /PRNewswire/ -- Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today issued the following open letter to all Spirit Guests:  We are writing to let you know about a proactive step Spirit has taken to position the company for success.

Spirit Airlines Issues Open Letter to All Spirit Guests

Down 98%, Is It Time to Buy Spirit Airlines Stock?

Fitch Ratings on Friday downgraded the long-term credit rating of Spirit Airlines to 'CC' from 'CCC', bringing it below the low-cost carrier's North America peers and warning that a near-term default appears probable.

Fitch downgrades Spirit Airlines' long-term credit rating

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The Score: Spirit, Tesla, Moderna and More Stocks That Defined the Week

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--Spirit Airlines Inc. (Spirit), an ultra-low-cost carrier headquartered in Dania Beach, Florida, has experienced financial deterioration in recent years as the airline has struggled to recover from the COVID-19 pandemic, with recent headlines indicating that Spirit is preparing to file for bankruptcy protection. Spirit is a lessee in six aviation lease asset-backed security (ABS) transactions rated by KBRA. While none of the exposures exceeds 10% of the underlying port.

KBRA Comments on Aviation ABS Exposure to Spirit Airlines

Shares in Spirit Airlines (NYSE: SAVE) are trading down over 64% in premarket as of this writing. SAVE stock is currently hovering around $1.14 per share, having closed at $3.22 per share yesterday.

Will Spirit Airlines go bankrupt? Stock price collapses after merger talks with Frontier reportedly end

Spirit Airlines, Inc.  SAVE shares are trading lower Wednesday. Investors are concerned.

News for Spirit Airlines Stock (SAVE)