Tag: $Spirit Airlines

Spirit Airlines on Tuesday rejected Frontier Group’s acquisition offer, worth about $2.16 billion, saying the bid from its fellow ultra-low-cost carrier was less beneficial to shareholders than its ongoing reorganization plan.

Spirit Airlines announced it will cut 200 jobs in an effort to reduce costs after filing for bankruptcy in November.

Spirit Airlines has filed for bankruptcy protection, it said on Monday, after the pioneer of no-frills travel in the U.S. struggled with a long run of quarterly losses, failed merger attempts and looming debt maturities.

Spirit Airlines’ shares plunged more than 50% in early trading Wednesday, following a report that it is preparing to file bankruptcy — and the company’s announcement that it won’t report quarterly financial results because it’s scrambling to reach a deal with creditors.

Frontier Group is considering making a fresh bid for Spirit Airlines, the rival low-cost carrier that’s still in talks with its bondholders about a potential bankruptcy.

Spirit Airlines shares were soaring on Monday after the budget carrier revealed it had struck an 11th-hour deal to extend a key debt-refinancing deadline.

Spirit Airlines has been in discussions with bondholders over the terms of a potential bankruptcy filing in the wake of its failed merger with JetBlue Airways, according to people familiar with the matter.

Spirit Airlines stock just can’t get off the ground. In fact, the shares were moving lower Monday after the ultra-low-cost carrier reported a wider loss and falling revenue in the first quarter.

Spirit Airlines posted a narrower-than-expected fourth-quarter loss and CEO Ted Christie struck an optimistic tone about the company’s fortunes in 2024. The stock, though was only narrowly higher despite the good news.

Spirit Airlines on Friday raised its financial forecast for the fourth quarter of 2023.

JetBlue Airways stock was rising and Spirit Airlines dropped sharply after a federal judge Tuesday blocked the proposed merger of the two airlines.

American Airlines  and Spirit Airlines on Wednesday joined other carriers in warning that higher costs will hit profits during the bustling summer quarter.