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.