Spirit Airlines is a budget airline that specializes in providing low-cost air travel services to domestic and international destinations
The company operates a fleet of aircraft focused on offering no-frills flying experiences, where customers can choose to pay for additional services such as seat selection, baggage, and onboard refreshments. Through its extensive network, Spirit aims to make air travel accessible and affordable for a wide range of travelers, while emphasizing operational efficiency and cost reduction measures to maintain its competitive edge in the airline industry.
Jim Cramer sees potential for continued strength in airline stocks, provided carriers maintain discipline in flight capacity management. His analysis comes on Monday, Dec. 9, 2024 as major carriers have seen significant stock appreciation in recent months.
Spirit approved large retention bonuses for its top executives on Nov. 12, six days before the company announced the restructuring and filed for bankruptcy.
Spirit Airlines higher premarket after disclosing a comprehensive balance sheet restructuring plan with support from bondholders. Expected delisting, bankruptcy emergence in Q1 2025.
Shares of Spirit Airlines Inc. (NYSESAVE) plunged by 62.73% in after-hours and closed nearly 5.29% lower at $3.22 apiece on Tuesday after the company failed to file its earnings for the quarter ended September 2024. The discount airline in a filing late Tuesday, said that it is in talks with its creditors to carve out a restructuring plan which could lead to the cancellation of its equity shares.
