Spirit Airlines jumps more than 20% after raising fourth-quarter forecast
Publishing timestamp: 2024-01-19 10:10:43
Summary
Spirit Airlines raised its financial forecast for the fourth quarter of 2023, leading to a 20% increase in its shares. The company expects revenue to come in at about $1.3 billion, at the high end of its earlier forecast. It also expects improved negative margins and credits lower fuel costs and other expenses for its improved estimates. However, there are concerns about the judge's ruling blocking JetBlue's plan to buy Spirit and the potential for bankruptcy. Spirit is also considering options to refinance its debt and expects compensation from Pratt & Whitney for engine issues.
Sentiment: MIXED
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Source: https://www.cnbc.com/2024/01/19/spirit-airlines-raises-fourth-quarter-forecast.html