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Spirit Airlines, Inc. - SAVE STOCK NEWS

Welcome to our dedicated page for Spirit Airlines news (Ticker: SAVE), a resource for investors and traders seeking the latest updates and insights on Spirit Airlines stock.

Spirit Airlines, Inc. (NYSE: SAVE) is an ultra-low-cost carrier headquartered in the United States, known for its innovative business model known as the Bare Fare. The airline unbundles its base fares, allowing customers to pay separately for extras, such as baggage and seat assignments, thereby offering one of the most economical flying options in the Americas. This model provides customers the flexibility to choose and pay only for the amenities they need, making air travel more affordable and accessible to a broader market.

Spirit Airlines operates over 250 daily flights to more than 50 destinations across the U.S., Latin America, the Caribbean, and Canada. With a fleet recognized as one of the youngest and most fuel-efficient in the industry, Spirit aims to provide a reliable and environmentally friendly travel experience. The airline's fleet modernization and operational strategies are geared towards maintaining competitive costs and enhancing fuel efficiency.

In recent years, Spirit Airlines has achieved several milestones:

  • Reported an operational load factor of 80.1% and a DOT on-time performance of 76.8% for Q4 2023.
  • Expanded its fleet with the addition of new Airbus A320neo and A321neo aircraft, while maintaining one of the youngest fleets in the industry.
  • Moved its corporate headquarters to a new, expansive campus in Dania Beach, Florida, featuring state-of-the-art training facilities and office spaces.
  • Reached a significant agreement with Airbus to defer aircraft deliveries, bolstering liquidity by approximately $340 million over two years.

The airline also focuses on community engagement through the Spirit Charitable Foundation, which supports various social causes. Spirit's recent initiatives include new route applications to enhance connectivity, such as the proposed nonstop service between San José Mineta International Airport and Ronald Reagan Washington National Airport, which aims to provide Silicon Valley with direct access to the nation's capital.

Financially, Spirit Airlines is undergoing strategic adjustments to improve its revenue and operational efficiency. The company reported a net loss for Q4 2023 but expects a recovery driven by its tactical changes and improved booking trends. With a strong cash position of $1.3 billion by year-end 2023, Spirit is poised to navigate the competitive airline industry landscape effectively.

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JetBlue announces September 2023 prepayment to Spirit stockholders
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Spirit Airlines announces partnership with Liberty University for the Spirit Wings Pilot Pathway program
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JetBlue and Allegiant announce divestitures to promote ultra-low-cost carrier growth
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Spirit Airlines introduces a new way to donate to the Spirit Charitable Foundation. Guests can round up their total to the next whole dollar during booking to contribute to nonprofits. The Foundation has committed $1.3 million to 57 nonprofits in 2023. The airline's DEI&B Resource Groups selected 23 of the nonprofits this year. Small donations make a big impact on organizations like Mano Amiga School, Our Little Roses, Shepherd Center, and Soldiers' Angels.
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Spirit Airlines celebrates 15 years in Colombia, offers limited-time anniversary fares on flights from Colombia for travel from Sept. 5 to Nov. 8. Spirit also donates $100,000 USD to Mano Amiga school in Zipaquirá and $15,000 USD to Club Deportivo Academia de Béisbol Hermanos Rentería in Cartagena. Spirit's Colombia service has seen a nearly 50% increase in departing flights since May 2019. Spirit named Value Airline of the Year and receives FAA's Aviation Maintenance Technician Diamond Award of Excellence.
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JetBlue Airways Corporation has announced the record date for a prepayment to Spirit Airlines, Inc. stockholders. The prepayment will be $0.10 per Spirit share and will be paid on August 31, 2023.
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Spirit Airlines, Inc. (SAVE) reports Q2 2023 financial results, showing total operating revenues of $1,432.5 million and a net loss of $2.3 million. The company experienced a decrease in demand for peak summer travel, leading to a net loss of $0.02 per diluted share. However, they anticipate a shift in demand back towards domestic travel in the fall, resulting in a more normal pricing and demand environment for the fourth quarter.
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JetBlue Airways Corporation (JBLU) and Spirit Airlines, Inc. (SAVE) set record date for July 2023 prepayment
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JetBlue Airways Corporation has announced a prepayment to Spirit Airlines, Inc. stockholders of $0.10 per share, with a record date of June 26, 2023, and payment on June 30, 2023.
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FAQ

What is the current stock price of Spirit Airlines (SAVE)?

The current stock price of Spirit Airlines (SAVE) is $1.08 as of November 18, 2024.

What is the market cap of Spirit Airlines (SAVE)?

The market cap of Spirit Airlines (SAVE) is approximately 118.3M.

What is the business model of Spirit Airlines?

Spirit Airlines operates under the Bare Fare model, offering unbundled base fares and allowing customers to pay separately for extras like baggage and seat assignments.

How many destinations does Spirit Airlines serve?

Spirit Airlines operates over 250 daily flights to more than 50 destinations in the U.S., Latin America, the Caribbean, and Canada.

What are some recent achievements of Spirit Airlines?

Recent achievements include a DOT on-time performance of 76.8% for Q4 2023, expansion of its fleet with new Airbus aircraft, and the opening of its new corporate campus in Dania Beach, Florida.

What are Spirit Airlines' financial highlights?

For Q4 2023, Spirit reported a net loss but expects recovery in 2024 driven by strategic changes and improved booking trends. The company ended 2023 with a strong liquidity position of $1.3 billion.

How does Spirit Airlines contribute to the community?

Through the Spirit Charitable Foundation, the airline supports various social causes, including a recent $25,000 donation to Dania Beach PATCH to promote local access to healthy foods and horticulture.

What are Spirit Airlines' latest initiatives?

Spirit has applied for new nonstop service between San José Mineta International Airport and Ronald Reagan Washington National Airport, aiming to offer Silicon Valley direct access to Washington, D.C.

What type of aircraft does Spirit Airlines operate?

Spirit Airlines operates one of the youngest and most fuel-efficient fleets in the industry, including the Airbus A320neo and A321neo models.

What steps is Spirit Airlines taking to improve its financial performance?

Spirit is implementing strategic adjustments, including a significant agreement with Airbus to defer aircraft deliveries, aimed at improving liquidity and operational efficiency.

Where is Spirit Airlines' headquarters located?

Spirit Airlines' headquarters is located in Dania Beach, Florida, at the newly opened Spirit Central campus.

How does Spirit Airlines maintain low operational costs?

Spirit maintains low costs through its Bare Fare model, fleet efficiency, and strategic operational adjustments, such as deferring aircraft deliveries to boost liquidity.

Spirit Airlines, Inc.

Nasdaq:SAVE

SAVE Rankings

SAVE Stock Data

118.28M
108.42M
0.86%
44.18%
34.24%
Airlines
Air Transportation, Scheduled
Link
United States of America
DANIA BEACH