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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.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Spirit Airlines's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Spirit Airlines's position in the market.

News
Spirit Airlines Reports First Quarter 2024 Results
Rhea-AI Summary

Spirit Airlines, Inc. reported first quarter 2024 financial results, with total operating revenues of $1.265.5 million and a net loss of $142.6 million. The company's strategic and tactical changes are expected to benefit unit revenue, while cost-saving initiatives could save over $75 million in 2024. Despite operational challenges due to adverse weather and civil unrest, Spirit remains confident in its ability to navigate a competitive market. The company is focused on implementing its standalone plan to improve financial performance and drive continuous improvement.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.7%
Tags
earnings
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News
Spirit Airlines Recognized for Safety and Affordability by WalletHub
Rhea-AI Summary

Spirit Airlines, symbol SAVE, was recognized in WalletHub's 'Best Airlines' report for safety and affordability based on 2023 data. The airline focuses on safety, affordability, and a commitment to delivering the best value in the sky. Spirit operates an all-Airbus Fit Fleet®, offers low fare flights to 90 destinations, and invests in guest experience with initiatives like cabin enhancements and onboard Wi-Fi. The company also received the FAA's Diamond Award of Excellence for aviation maintenance safety.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.12%
Tags
none
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News
Spirit Airlines Optimizes Baggage Operations and Reduces Costs with TA Ramp
Rhea-AI Summary
Spirit Airlines (NYSE: SAVE) implements TA Ramp, an advanced baggage reconciliation solution by TA Connections, a Corpay (NYSE: CPAY) brand, to optimize baggage operations, increase ramp efficiency, and reduce costs. The latest technology includes an advanced camera SDK added to iPhones for accurate baggage scanning, leading to cost savings and improved operational data for proactive issue resolution.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.9%
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none
News
Spirit Airlines Unveils New Spirit Central Campus in Dania Beach, Florida
Rhea-AI Summary
Spirit Airlines (NYSE: SAVE) celebrates the opening of Spirit Central, its new corporate campus in Dania Beach, Florida. The 11-acre campus features four buildings, including a support center, crew training facility, and corporate housing. The new location provides a centralized hub for the airline's main support teams, showcasing design features paying tribute to Spirit. Spirit Central also includes amenities like a fueling station, training hub, and corporate housing facility. The airline made a significant investment in Broward County to strengthen its commitment to the South Florida community.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.95%
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none
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News
Spirit Airlines Announces Deferral of Airbus Aircraft Deliveries
Rhea-AI Summary
Spirit Airlines, Inc. (SAVE) has reached an agreement with Airbus to defer aircraft deliveries from the second quarter of 2025 to 2030-2031, improving liquidity by $340 million. The deferrals aim to address grounded aircraft due to engine availability issues and furlough approximately 260 Pilots. Spirit also entered into a compensation agreement with Pratt & Whitney to enhance liquidity by $150-200 million. The amendment with Airbus and strategic measures are part of Spirit's plan to boost profitability and financial stability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.27%
Tags
none
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News
JetBlue Announces Termination of Merger Agreement with Spirit
Rhea-AI Summary
JetBlue terminates merger agreement with Spirit Airlines to focus on organic strategy and profitability. JetBlue will pay Spirit $69 million to resolve the termination. JetBlue plans to deepen network relevance, enhance product offerings, and deliver cost savings to approach breakeven operating margins by 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.33%
Tags
acquisition
News
JetBlue Announces Record and Payment Dates for February 2024 Additional Prepayment to Spirit Stockholders
Rhea-AI Summary
JetBlue Airways Corporation (JBLU) has set a record date of February 23, 2024, for a prepayment of $0.10 per share to Spirit Airlines, Inc. (SAVE) stockholders as part of the Merger Agreement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
21.58%
Tags
none
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News
Spirit Airlines Reports Fourth Quarter and Full Year 2023 Results
Rhea-AI Summary
Spirit Airlines, Inc. reported a net loss of $183.7 million for the fourth quarter of 2023, with total operating revenues of $1.3 billion, a decrease of 5.0% compared to the same period in 2022. Despite a net loss, the company's President and CEO, Ted Christie, expressed confidence in the domestic recovery for 2024, citing tactical and strategic changes implemented in 2023. The company also reported improvements in operational reliability and load factor, but challenges with engine availability impacted aircraft utilization. The financial report highlighted cost performance, with a 9.5% decrease in total operating expenses, but adjusted expenses increased by 11.3% due to increased flight volume and additional leased aircraft. The company's liquidity at year-end 2023 was $1.3 billion, and they anticipate becoming cash flow positive in the second quarter of 2024. The report also mentioned the company's fleet updates and challenges related to the grounded neo aircraft.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.31%
Tags
earnings
-
News
Spirit Airlines Makes a Splash with New Savings in Celebration of its 20th Anniversary in Cancun
Rhea-AI Summary
Spirit Airlines (NYSE: SAVE) is celebrating two decades of flying travelers between Cancun International Airport and the United States with limited-time anniversary fares starting at $79* one-way. The airline is also offering bonus points to loyalty program members, and the Spirit Charitable Foundation commemorated the anniversary with a donation of $20,000 to a local charity. Spirit will further grow its Mexico service this spring with nonstop service from Tulum to Fort Lauderdale and Orlando. The airline has received recognition and awards for its commitment to investing in the guest experience, including being named the Value Airline of the Year and receiving a Four Star Low-Cost Carrier rating. The company's commitment to safety is also recognized with the FAA's
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.52%
Tags
none
News
The Spirit Charitable Foundation Publishes its 2023 Impact Report
Rhea-AI Summary
Spirit Airlines (NYSE: SAVE) highlighted its investment in meaningful social impact in the third Spirit Charitable Foundation Impact Report. In 2023, the Foundation donated a record-breaking $1.7 million to 84 nonprofits, earning recognition and awards for its philanthropic efforts. The report outlines the positive outcomes of the investments, including impacts on education, environmental sustainability, and support for service members. The Foundation's contributions were allocated across three pillars: Children and Families (60%), Service Members (20%), and the Environment (20%).
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.13%
Tags
none
Stock SAVE logo
Spirit Airlines, Inc.

NYSE:SAVE

SAVE Rankings

#3256 Ranked by Market Cap
#4014 Ranked by Stock Gains
#1 Ranked by Dividends

SAVE Stock Data

372.30M
108.69M
0.64%
59.89%
23.79%
Scheduled Passenger Air Transportation
Transportation and Warehousing
Link
United States of America
MIRAMAR

About SAVE

spirit airlines (nasdaq: save) is the ultra-low cost airline of the americas and home of the bare fare. spirit’s fares are unbundled; they simply reflect the cost of taking customers to their destination without any extras. every customer gets frill control: the ability to choose what perks and options they’d like to add to the bare fare, independent of the choices of other passengers. structuring fares this way allows every passenger a chance to fly for less than any other airline. spirit’s fit fleet is one of the youngest flying and is one of the most fuel-efficient in the industry. this innovative approach grows the traveling market and stimulates new economic activity while creating new jobs. spirit currently operates more than 250 daily flights to over 50 destinations within the u.s., latin america, caribbean and canada. for more information, head to spirit.com. media note: spirit aircraft photos and video b-roll are available in the pressroom section of spirit.com at spirit.com