US stock markets: Spirit Airlines shares slide over 9% on weak Q2 forecast
7 months, 2 weeks ago

US stock markets: Spirit Airlines shares slide over 9% on weak Q2 forecast

Live Mint  

Spirit Airlines shares slid more than 9 per cent in morning trade in New York on Monday on weak forecast for second quarter revenue. At 12:00 pm EDT, the Spirit Airlines stock was at $3.3401, down 9.97 per cent. Spirit Airlines said it believes that along with compensation for its grounded aircraft, deferred jet deliveries and cost savings will improve its cash levels by $450 million to $550 million in 2024. “Spirit's advisers have started discussions with our loyalty bondholders and convert holders that come due in September 2025 and May 2026, respectively, and expect a resolution at some point this summer,” Spirit Airlines chief financial officer Scott Haralson said.

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Spirit Airlines delays release of Q3 financial results as debt restructuring talks heat up
1 month, 1 week ago

Spirit Airlines delays release of Q3 financial results as debt restructuring talks heat up

Associated Press  

NEW YORK — Shares of Spirit Airlines plunged Wednesday after the budget airline said that it won’t announce quarterly financial results on time while it continues talks with bond holders to restructure its debt. If it can reach a deal, Spirit said, it would go through “a statutory restructuring” that would protect creditors, employees, customers and companies that do business …

Spirit Airlines prepares for bankruptcy - sparking fears of mass route cancellations across America
1 month, 1 week ago

Spirit Airlines prepares for bankruptcy - sparking fears of mass route cancellations across America

Daily Mail  

Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines nosedived - sparking fears among flyers about mass cancelations. Spirit airlines share price plunged 45 percent in aftermarket trading on Tuesday after news that it was set to file for bankruptcy was reported by the Wall Street Journal. Spirit executives saw the merger with JetBlue …

Spirit Aero losses more than double as 737 output drops, A220 woes linger
4 months, 2 weeks ago

Spirit Aero losses more than double as 737 output drops, A220 woes linger

Live Mint  

Aug 5 - Spirit AeroSystems said on Monday its quarterly losses more than doubled as 737 fuselage shipments to its biggest customer Boeing fell and losses mounted on its Airbus A220 program. Net loss for the second quarter widened to $415 million from a loss of $206 million, an indication of Spirit's fragile finances and the importance of Boeing's deal …

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks
4 months, 3 weeks ago

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks

Associated Press  

Spirit Airlines is moving farther away from its history as a fee-happy budget airline and will start selling tickets that include some of its most popular extras in bundles. CEO Ted Christie said the changes are “taking low-fare travel to new heights.” They also indicate the deep trouble with Spirit’s longtime business model. The airline with bright yellow planes hasn’t …

Boeing bears the brunt of crisis with criminal fraud charge and now Spirit deal
5 months, 3 weeks ago

Boeing bears the brunt of crisis with criminal fraud charge and now Spirit deal

Hindustan Times  

Six months after a fuselage blowout threw Boeing Co. into crisis, the full weight of the legal and financial fallout from the near-catastrophic accident is bearing down on the embattled US plane maker. US aircraft manufacturer Boeing says to buy subcontractor Spirit for $4.7 billion The US Justice Department plans to charge Boeing with criminal fraud after finding the company …

Spirit Air stock bounces back a bit, airline says holiday travel boosted revenue
11 months ago

Spirit Air stock bounces back a bit, airline says holiday travel boosted revenue

Associated Press  

Spirit Airlines jumped in morning trading Friday after the struggling discount carrier said a strong holiday travel season boosted its fourth-quarter revenue. Spirit said it expects to post revenue of $1.3 billion when it releases its results for the final quarter of 2023 early next month. The airline’s shares lost more than half their value earlier in the week after …

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner
1 year, 3 months ago

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner

Associated Press  

Boeing and a key supplier say that a new manufacturing flaw could delay deliveries of the 737 Max, Boeing’s best-selling plane. Boeing and Spirit AeroSystems said they discovered improperly drilled fastener holes in the aft pressure bulkhead — which maintains pressure when planes are at cruising altitude – on the fuselages of some models of the 737 Max. Spirit AeroSystems …

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