Welcome to our dedicated page for Spirit Airls news (Ticker: SAVE), a resource for investors and traders seeking the latest updates and insights on Spirit Airls stock.
Spirit Airlines (SAVE), operated by Spirit Aviation Holdings, Inc., is a low-fare carrier in the scheduled passenger air transportation industry. News about Spirit frequently focuses on its low-fare business model, its evolving Guest experience, and its financial and restructuring activities. The company serves destinations throughout the United States, Latin America and the Caribbean and emphasizes flexible, affordable travel options.
Recent news releases have highlighted major financial restructuring steps, including a restructuring support agreement with a supermajority of certain bondholders and the commencement of a prearranged Chapter 11 process. Spirit has publicly stated that it expects to continue operating flights while using Chapter 11 to reduce debt and adjust its balance sheet. Company communications also note expectations regarding delisting from a national securities exchange and the anticipated cancellation of existing common stock as part of the restructuring.
Operational and product news covers Spirit’s transformed Guest experience, such as the launch of the Go Big, Go Comfy, Go Savvy and Go travel options, all of which include the flexibility of no change or cancellation fees. Releases describe new premium offerings, revised boarding processes with five groups, and priority check‑in at select airports. Marketing campaigns, including collaborations with public figures to promote options like Go Comfy, also appear in the company’s news flow.
Network updates feature new routes and market entries, such as inaugural service in Alabama with daily nonstop flights between Birmingham and Fort Lauderdale. Financial news includes quarterly results, liquidity updates, cost‑saving initiatives, credit facilities and card processing agreements. For investors and travelers, following SAVE news provides insight into Spirit’s restructuring progress, operational adjustments, fare options and route developments.
This news page aggregates these releases and related coverage, allowing users to review historical announcements on restructuring milestones, product changes, leadership updates and network expansions associated with Spirit Airlines and the SAVE ticker.
Spirit Airlines (NYSE: SAVE) is expanding its operations in Houston by opening a new aircraft maintenance facility at George Bush Intercontinental Airport. This facility will create over 50 jobs and enhance maintenance capabilities, supporting the addition of 24 new aircraft in 2022 and another 33 in 2023, increasing the fleet to a total of 197 planes. The maintenance complex will include two aircraft bays, office space, and warehouses. Executive Vice President John Bendoraitis emphasized the importance of maintaining their fleet, while local officials hailed the economic benefits of the expansion.
JetBlue (NASDAQ: JBLU) has welcomed Spirit Airlines' (NYSE: SAVE) Board of Directors' determination that JetBlue's acquisition offer is likely to lead to a "Superior Proposal." JetBlue's offer is valued at $33 per share, equating to a total equity value of $3.6 billion and a premium of 52% compared to Spirit's share price on February 4, 2022. The transaction is subject to a definitive merger agreement, Board approval, and regulatory clearances, but not contingent on financing. JetBlue aims to create a low-fare competitor to major U.S. carriers.
Spirit Airlines (NYSE: SAVE) announced that its Board of Directors is considering an unsolicited all-cash acquisition proposal from JetBlue Airways (Nasdaq: JBLU) at $33.00 per share. This proposal may qualify as a 'Superior Proposal' under Spirit's existing merger agreement with Frontier Group Holdings (NASDAQ: ULCC). While discussions with JetBlue will proceed, Spirit remains legally bound to its agreement with Frontier and has made no changes to its shareholder recommendations. There is no guarantee that negotiations will culminate in a successful transaction.
JetBlue has proposed an all-cash acquisition of Spirit Airlines for $33 per share, valuing Spirit at $3.6 billion. This offer represents a 52% premium over Spirit's share price on February 4, 2022. The merger aims to create the fifth largest domestic airline, enhancing JetBlue's position against major U.S. carriers. JetBlue expects operational synergies between $600-700 million annually and believes the deal will be accretive to earnings per share in the first year. The transaction is anticipated to close without requiring JetBlue shareholder approval.
Spirit Airlines (NYSE:SAVE) has received an unsolicited cash proposal from JetBlue Airways (Nasdaq:JBLU) to acquire all outstanding shares at $33.00 per share. The Spirit Board will evaluate this proposal alongside its existing merger agreement with Frontier Group Holdings (NASDAQ:ULCC), which offers Spirit shareholders 1.9126 shares of Frontier and $2.13 in cash per share. The Board is committed to acting in the best interests of Spirit and its shareholders, and no action is required from shareholders at this time.
Spirit Airlines (NYSE: SAVE) has launched its award-winning self-bag drop system at Atlanta's Hartsfield-Jackson Airport, enhancing the check-in experience by reducing wait times. The biometric photo-matching solution enables self-service bag check without agent interaction, potentially decreasing processing time by 30%. With an annual average of 1,000 bags checked daily at ATL, this innovation represents a significant efficiency boost. Spirit's commitment to technology and customer service aligns with plans to establish a new crew base in Atlanta, creating over 300 jobs this summer.
Spirit Airlines (NYSE: SAVE) has successfully completed its terminal move at LaGuardia Airport (LGA), consolidating all flights to Terminal A, enhancing guest experience and streamlining operations. The transition was supported by the Port Authority of New York and New Jersey. Spirit's commitment to improving customer service is reflected in this consolidation as it continues to expand its brand presence in New York. The historic Marine Air Terminal, where Spirit now operates, was built in 1939 and features notable art installations.
The Spirit Open, hosted by Spirit Airlines on March 28, 2022, raised over $1.5 million for various nonprofit organizations, surpassing the previous record of $1 million in 2020. The event was supported by sponsors including NexGen Aero, Airbus, and Pratt & Whitney. In 2021, the Spirit Charitable Foundation contributed over $500,000 to 29 charities. Plans for 2022 include further investments in community organizations across the U.S., Latin America, and the Caribbean. Spirit Airlines aims to enhance its community engagement and has commenced construction of a new campus in Dania Beach.
Spirit Airlines (NYSE: SAVE) announced four new nonstop routes from Newark (EWR) to Indianapolis (IND), Los Angeles (LAX), Oakland (OAK), and Pittsburgh (PIT), enhancing summer travel options. Additionally, a temporary route to Louisville (SDF) will operate on May 5 and 8 for the Kentucky Derby. The expansion aims to meet growing travel demand and reflects Spirit's investment in northern New Jersey, increasing daily departures at EWR to 24, doubling its capacity since 2019. Spirit also ranks as the fourth-largest carrier by seats at Newark.
Spirit Airlines has announced the launch of daily nonstop flights from Albuquerque (ABQ), Boise (BOI), and Reno (RNO) to Las Vegas (LAS) starting in August 2022. This expansion increases Spirit's Las Vegas service to over 40 nonstop destinations, representing a nearly 30% increase year-over-year. The new routes aim to enhance travel options for passengers in New Mexico, Idaho, and Northern Nevada, increasing connectivity to multiple destinations. The announcement coincides with Spirit's 20th anniversary serving LAS.