Spirit Airlines stock jumps 15% after struggling budget carrier said it will sell planes, cut jobs
Publishing timestamp: 2024-10-25 14:40:06
Summary
Spirit Airlines plans to cut jobs, sell planes, and shrink its footprint next year in order to reduce costs and raise cash. The struggling budget carrier's shares surged after the announcement, but they are still down about 80% this year. The airline has faced challenges from a scuttled acquisition, engine recall, oversupplied market, and grounding of aircraft.
Sentiment: NEGATIVE
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Source: https://www.cnbc.com/2024/10/25/spirit-airlines-stock-sell-planes-cut-jobs.html