Spirit Airlines warns of potential second-quarter financial losses

Witness the meticulous operations of a Spirit Airlines aircraft as it readies for takeoff⁣ at the Austin-Bergstrom International Airport in Austin, Texas, on February 12, ⁤2024.

Photographed by Brandon Bell, this ‌snapshot captures the essence of the airline’s preparations.

In a recent announcement, Spirit Airlines disclosed that it anticipates a larger loss for the last quarter due to lower-than-expected revenue.

The projected adjusted loss⁤ for ‌the quarter ending June ⁤30 is now estimated to be between $160⁣ million and $173 million, a significant increase from the initial forecast of no more than $145 million. Additionally, sales are expected to reach $1.28 billion, falling short of the previously anticipated $1.32 billion.

The airline attributed this shortfall to a decrease in non-ticket revenue per passenger, which includes various ‍fees typically associated with⁤ its affordable fares.

Following this announcement, Spirit Airlines’ stock experienced a‍ decline of over 9% in late-morning trading on Wednesday. The revised estimates were released in a securities ‍filing after the market closed on Tuesday.

For more details‍ on this ‌development and the airline’s future outlook, visit www.cnbc.com.