Announcement • Feb 12
Frontier Group Holdings, Inc. (NasdaqGS:ULCC) cancelled the acquisition of Spirit Airlines, Inc. Frontier Group Holdings, Inc. (NasdaqGS:ULCC) submitted the proposal to acquire Spirit Airlines, Inc. on February 4, 2025. Under the terms of the New Proposal, which was subject to various conditions, Spirit’s stakeholders would receive $400 million principal amount of second-lien debt issued by Frontier and 19.0% of Frontier’s common equity following the proposed combination. The New Proposal would not require the Company to complete its previously announced $350 million equity rights offering, and required a waiver of the Bankruptcy Court-approved $35 million termination fee that would otherwise be owed under the Backstop Commitment Agreement, dated Nov. 18, 2024, by and among the Company and the other stakeholders party thereto (the “Backstop Commitment Agreement”). Notably, the New Proposal did not address certain material risks and issues previously identified by the Company, including that the New Proposal would deliver less in value to the Company’s stakeholders than contemplated by the Company’s existing plan of reorganization, is uncertain as to timing and completion, would result in extended and materially more costly and uncertain chapter 11 proceedings, and has uncertainties with regard to needed regulatory and court approvals. The Company’s management and Board of Directors, consistent with their fiduciary duties, carefully reviewed the New Proposal in consultation with the Company’s external legal and financial advisors.
Akin Gump Strauss Hauer & Feld LLP is acting as legal counsel and Evercore is acting as financial advisor to the ad hoc group of loyalty noteholders. Paul Hastings LLP is acting as legal counsel and Ducera Partners LLC is acting as financial advisor to the convertible bondholders.
Frontier Group Holdings, Inc. (NasdaqGS:ULCC) cancelled the acquisition of Spirit Airlines, Inc. on February 11, 2025. Announcement • Jan 30
Frontier Group Holdings, Inc. (NasdaqGS:ULCC) cancelled the acquisition of Spirit Airlines, Inc. (OTCPK:SAVE.Q) for $1.8 billion. Frontier Group Holdings, Inc. (NasdaqGS:ULCC) submit a proposal to acquire Spirit Airlines, Inc. (OTCPK:SAVE.Q) for $1.8 billion on January 7, 2025. The consideration consists of $1.76 billion common equity of Frontier Group Holdings, Inc. to be issued for common equity of Spirit Airlines, Inc. Frontier will issue $400 million principal amount of debt by Frontier and 19.0% of Frontier’s common equity at the closing of the transaction, to be distributed to the Holders of Senior Secured Notes, 2025 Convertible Notes, 2026 Convertible Notes and Existing Interests. Frontier Board of Directors has unanimously approved our Proposal. Evercore Group L.L.C. is acting as financial advisor to the ad hoc group of Holders of Senior Secured Notes of Spirit Airlines. Frontier has retained Citigroup Global Markets, Inc. as its financial advisor for this transaction and Latham & Watkins LLP as its legal counsel.
Frontier Group Holdings, Inc. (NasdaqGS:ULCC) cancelled the acquisition of Spirit Airlines, Inc. (OTCPK:SAVE.Q) on January 28, 2025. Spirit Airlines board of directors rejected the proposal. Announcement • Dec 19
Final DIP Financing Approved for Spirit Airlines, Inc. The US Bankruptcy Court gave an order to Spirit Airlines, Inc. to obtain DIP financing on a final basis on December 18, 2024. As per the order, the debtor has been authorized to obtain a term loan facility in the amount of $300 million Wilmington Savings Fund Society, FSB acting as the administrative agent. The DIP loan would either carry an interest rate of DIP Loans and DIP Notes will bear interest at a rate per annum equal to (a) Term SOFR plus 7.00% per annum or (b) Alternate Base Rate plus 6.00% per annum. Interest shall be payable in cash. Interest shall be calculated on the basis of the actual number of days elapsed in a 360-day year. Interest shall be payable in arrears on the last Business Day of each month, regardless of whether interest accrues based on Term SOFR or the Alternate Base Rate., along with an additional 2% p.a. interest in the event of default. The DIP facility would mature either on 12 months after the petition date, i.e. November 18, 2025, or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.05 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. Announcement • Dec 18
Combined Hearing for Disclosure Statement and Joint Plan Approved on Interim Basis for Spirit Airlines, Inc. The US Bankruptcy Court approved the combined hearing to consider approval of disclosure statement and joint plan of Spirit Airlines, Inc. and interim approval of disclosure statement on December 17, 2024. The debtor had filed its disclosure statement and joint plan in the Court on December 17, 2024. The voting record date is December 10, 2024. The deadline to vote on the plan is January 21, 2025. Any objections to the plan should be made before January 21, 2025, and the confirmation hearing for the plan and disclosure statement has been scheduled for January 29, 2025. Announcement • Nov 29
Motion for Asset Sale Approved for Spirit Airlines, Inc. The US Bankruptcy Court gave interim order approving the sale of the certain assets of Spirit Airlines, Inc. on November 27, 2024. The debtor has been authorized to sell its certain assets to Aircraft Sale Agreement with GA Telesis, LLC, for a purchase price of $518.9 million in cash. The debtor’s assets include 23 used Airbus A320ceo and A321ceo aircraft. Announcement • Nov 26
Affiliate Companies Joined Spirit Airlines, Inc. Bankruptcy Four affiliate debtors filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York on November 25, 2024. The affiliates include Spirit Finance Cayman 1 Ltd., Spirit Finance Cayman 2 Ltd., Spirit IP Cayman Ltd. and Spirit Loyalty Cayman Ltd. The debtors are represented by Marshall Scott Huebner of Davis Polk & Wardwell LLP as their legal counsel. Announcement • Nov 20
The New York Stock Exchange to Commence Delisting Proceedings against Spirit Airlines The New York Stock Exchange (‘NYSE’, the ‘Exchange’) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Spirit Airlines, Inc. (the ‘Company’) from the NYSE. Trading in the Company’s common stock will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.01D after the Company’s November 18, 2024 press release and Form 8-K disclosures that the Company has commenced a prearranged chapter 11 process in the United States Bankruptcy Court for the Southern District of New York. In reaching its delisting determination, NYSE Regulation notes the Company disclosed that all of the Company’s existing common stock and other equity interests will be cancelled without any distributions to the holders of such common stock and other equity interests on account thereof. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. Announcement • Nov 19
Spirit Airlines, Inc. Filed for Bankruptcy Spirit Airlines, Inc., filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York on November 18, 2024. The debtor listed both its assets and liabilities in the range of $1 billion to $10 billion. The debtor is represented by Darren S. Klein and Marshall Scott Huebner of Davis Polk & Wardwell LLP as its legal counsel. The debtor also hired Alvarez & Marsal North America, LLC as financial and compensation advisor, Perella Weinberg Partners as investment banker, Debevoise & Plimpton LLP as fleet counsel, Walkers Cayman Islands as Cayman counsel, Morris, Nichols, Arsht & Tunnell LLP as conflicts counsel, O’Melveny & Myers LLP as labor counsel, and Kathryn Tran of Epiq Corporate Restructuring, LLC, as claims, noticing, solicitation, and administrative agent. Announcement • Nov 14
Spirit Airlines, Inc. announced delayed 10-Q filing On 11/13/2024, Spirit Airlines, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Price Target Changed • Nov 13
Price target decreased by 12% to US$1.79 Down from US$2.04, the current price target is an average from 7 analysts. New target price is 36% above last closing price of US$1.31. Stock is down 88% over the past year. The company is forecast to post a net loss per share of US$7.04 next year compared to a net loss per share of US$4.10 last year. Announcement • Oct 25
Spirit Airlines, Inc. Provides Operating Guidance for the Third Quarter and Fourth Quarter of 2024 and Full Year 2025 Spirit Airlines, Inc. provided operating guidance for the third quarter and fourth quarter of 2024 and full year 2025. The Company’s third quarter 2024 capacity was down 1.2% year over year.
The Company estimates its fourth quarter 2024 capacity will be down approximately 20% year over year.
The Company estimates the net proceeds of the Sale, combined with discharging the Aircraft-related debt from its balance sheet, will benefit its liquidity by approximately $225 million through year-end 2025. The Company estimates its capacity will be down mid-teens year over year. This decrease takes into account the sale and removal from scheduled service of the Aircraft, a year-over-year increase in the estimated number of neo aircraft removed from scheduled service due to the reduced availability of Pratt & Whitney geared turbofan engines, the retirement of the Company’s remaining A319ceo aircraft and the addition of six new A321neo aircraft scheduled for delivery in 2025. Announcement • Oct 24
Frontier Airlines, Spirit Airlines Reportedly Revive Merger Talks Frontier Airlines, Inc. is exploring a renewed bid for Spirit Airlines, Inc. (NYSE:SAVE), people familiar with the matter said, as Spirit continues discussions with bondholders over the terms of a potential bankruptcy filing. The two budget airlines have had recent discussions about a possible merger, though the people said the talks are at an early stage and that a deal may not come to fruition. Announcement • Oct 15
Spirit Airlines Launches its Inaugural Alabama Service and Birmingham's Only Nonstop Flight to Fort Lauderdale Spirit Airlines announced that it is celebrating its new Alabama service on October 15, 2024, following the October 10, 2024 launch of its daily, nonstop service from Birmingham-Shuttlesworth International Airport (BHM) to Fort Lauderdale-Hollywood International Airport (FLL). Spirit's introduction of the only nonstop flight from Birmingham to Fort Lauderdale provides affordable options for travelers who want to visit the Sunshine State or take advantage of one-stop connections to more than two dozen destinations across the United States, Latin America and the Caribbean. The airline is commemorating the launch of its Birmingham service with limited-time fares starting as low as $49 one-way to and from BHM. Additionally, members of the Free Spirit loyalty program can earn 1,500 bonus points on roundtrip flights and 750 bonus points on one-way flights to and from Birmingham (BHM). Travel must be booked by October 20, 2024, and flown by November 30, 2024. Birmingham Guests can benefit from a more seamless travel experience with Spirit's new boarding process featuring five groups that aim to reduce boarding time and enhance operational performance. Travelers can also enjoy the airline's four new travel options, which all include the flexibility of no change or cancel fees. Go Big to get enhanced comfort with a Big Front Seat®, one checked and one carry-on bag, priority check-in and boarding, snacks and drinks, including alcoholic beverages, and streaming access to fast Wi-Fi. Go Comfy to choose an aisle or window seat with a guaranteed blocked middle seat, one checked and one carry-on bag, priority boarding, a snack and non-alcoholic beverage during each service. Go Savvy to get a standard seat selection and a choice of one checked or one carry-on bag. Go to keep it simple with the greatest affordability. Standard seat selection, a checked bag and other options can be purchased separately. For a limited-time, Free Spirit members that choose to Go Big or Go Comfy will earn double points when they book and complete travel. Price Target Changed • Aug 18
Price target decreased by 7.5% to US$2.43 Down from US$2.63, the current price target is an average from 7 analysts. New target price is 13% below last closing price of US$2.79. Stock is down 83% over the past year. The company is forecast to post a net loss per share of US$7.66 next year compared to a net loss per share of US$4.10 last year. Major Estimate Revision • Aug 08
Consensus EPS estimates fall by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$5.22b to US$4.97b. Losses expected to increase from US$5.48 per share to US$7.49. Airlines industry in the US expected to see average net income growth of 20% next year. Consensus price target down from US$2.63 to US$2.46. Share price fell 12% to US$2.64 over the past week. Reported Earnings • Aug 02
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: US$1.76 loss per share (further deteriorated from US$0.022 loss in 2Q 2023). Revenue: US$1.28b (down 11% from 2Q 2023). Net loss: US$192.9m (loss widened US$190.6m from 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Airlines industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Announcement • Jul 30
Spirit Airlines, Inc. to Report Q2, 2024 Results on Aug 01, 2024 Spirit Airlines, Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 01, 2024 Major Estimate Revision • Jul 17
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$5.41b to US$5.28b. Losses expected to increase from US$4.16 per share to US$5.09. Airlines industry in the US expected to see average net income growth of 17% next year. Consensus price target down from US$3.68 to US$3.34. Share price fell 7.5% to US$2.82 over the past week. Announcement • Jul 16
Spirit Airlines, Inc Appoints Richard F. Wallman as Member of Board of Director Spirit Airlines, Inc. announced that its Board of Directors has appointed Richard F. Wallman as its newest member, effective July 16, 2024. Mr. Wallman served as the Chief Financial Officer and Senior Vice President of Honeywell International Inc., a diversified industrial technology and manufacturing company, and its predecessor AlliedSignal, from March 1995 to July 2003. Prior to that, Mr. Wallman served in senior financial positions with IBM and Chrysler Corporation. He is currently a director of CECO Environmental Corp., Charles River Laboratories International, Inc., and Roper Technologies, Inc. Mr. Wallman received his Bachelor of Science from Vanderbilt University and his MBA from the University of Chicago Booth Graduate School of Business. Price Target Changed • Jul 10
Price target decreased by 8.5% to US$3.57 Down from US$3.90, the current price target is an average from 9 analysts. New target price is 17% above last closing price of US$3.05. Stock is down 84% over the past year. The company is forecast to post a net loss per share of US$4.16 next year compared to a net loss per share of US$4.10 last year. Announcement • Jun 18
Spirit Airlines, Inc. Announces Bringing Affordable Air Service to BHM Beginning October 10, 2024 Spirit Airlines announced it is bringing affordable air service to BHM beginning October 10, 2024, with the only nonstop flight from BHM to Fort Lauderdale (FLL). Spirit's launch at Birmingham will mark the first time the airline serves the state of Alabama and will provide low-fare flight options to the Sunshine State and one-stop connections to Latin America and the Caribbean. To celebrate the new route, Spirit is offering limited-time introductory fares starting at $69 for travel October 10 through November 19, 2024. All fares are one-way, subject to 14-day advance purchase and availability. Spirit's Elevated Guest Experience: Spirit continues its commitment to invest in the Guest, which entails a number of initiatives aimed at delivering the best value in the sky: NEW: No change or cancel fees for all Guests; NEW: Increased checked bag weight allowance to 50 pounds; NEW: Extended Future Travel Vouchers expiration to 12 months (for vouchers issued on or after June 3, 2024); Spirit's Fit Fleet® is one of the youngest and most fuel-efficient fleets in the industry; Cabin enhancements with wider seats, added cushion, new headrests and upgrades to its unique Big Front Seat®; Fast onboard Wi-Fi that allows Guests to watch content from streaming services. Announcement • Jun 05
Spirit Airlines Announces CFO Changes, Effective June 14, 2024 Spirit Airlines announced that Brian McMenamy, Vice President and Controller, has been named as Interim Chief Financial Officer, effective June 14, 2024. McMenamy succeeds Scott Haralson, Executive Vice President and Chief Financial Officer, who is departing to become CFO of a larger, publicly traded company outside of the airline industry. Haralson will continue in his role through June 14, 2024 to ensure a smooth transition. Spirit will initiate a comprehensive search for a CFO with the assistance of a leading executive search firm. Brian McMenamy brings nearly 40 years of experience in corporate finance. Prior to joining Spirit in 2017, McMenamy held various roles in finance at American Airlines over the course of his 33-year tenure, including Vice President, Finance; Vice President, Financial Planning and Analysis; and Vice President and Controller. He holds a Bachelor of Science in Financial Economics from Rockhurst College in Kansas City, Missouri, and an MBA from Northwestern University's J.L. Kellogg Graduate School of Management. He is also a Certified Public Accountant. Major Estimate Revision • May 13
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$5.68b to US$5.49b. Losses expected to increase from US$3.12 per share to US$3.73. Airlines industry in the US expected to see average net income growth of 24% next year. Consensus price target down from US$4.37 to US$3.90. Share price rose 13% to US$3.80 over the past week. Price Target Changed • May 07
Price target decreased by 11% to US$4.01 Down from US$4.48, the current price target is an average from 9 analysts. New target price is 21% above last closing price of US$3.32. Stock is down 79% over the past year. The company is forecast to post a net loss per share of US$3.73 next year compared to a net loss per share of US$4.10 last year. Reported Earnings • May 07
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: US$1.30 loss per share (further deteriorated from US$0.95 loss in 1Q 2023). Revenue: US$1.27b (down 6.2% from 1Q 2023). Net loss: US$142.6m (loss widened 37% from 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Airlines industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Announcement • Apr 28
Spirit Airlines, Inc., Annual General Meeting, Jun 07, 2024 Spirit Airlines, Inc., Annual General Meeting, Jun 07, 2024, at 09:00 US Eastern Standard Time. Agenda: To elect the following two Class I directors to hold office until the 2027 annual meeting of stockholders or until their resignation or removal, or until their respective successors are elected: Robert D. Johnson and Barclay G. Jones III; to ratify the selection, by the Audit Committee of the Board of Directors, of Ernst & Young LLP as the independent registered public accounting firm of the Company for its fiscal year ending December 31, 2024; to approve, on a non-binding, advisory basis, the compensation of company's named executive officers as disclosed in the attached Proxy Statement pursuant to executive compensation disclosure rules under the Securities Exchange Act of 1934, as amended; to hold a non-binding, advisory vote on whether the advisory vote to approve the compensation of company's named executive officers should be held every one, two or three years; and to consider other matters. Major Estimate Revision • Apr 10
Consensus EPS estimates upgraded to US$2.91 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -US$3.36 to -US$2.91 per share. Revenue forecast steady at US$5.70b. Airlines industry in the US expected to see average net income growth of 25% next year. Consensus price target down from US$6.67 to US$4.72. Share price rose 6.0% to US$4.91 over the past week. Price Target Changed • Apr 05
Price target decreased by 29% to US$5.06 Down from US$7.13, the current price target is an average from 9 analysts. New target price is 14% above last closing price of US$4.43. Stock is down 75% over the past year. The company is forecast to post a net loss per share of US$3.36 next year compared to a net loss per share of US$4.10 last year. Price Target Changed • Mar 05
Price target decreased by 17% to US$7.13 Down from US$8.62, the current price target is an average from 8 analysts. New target price is 24% above last closing price of US$5.76. Stock is down 66% over the past year. The company is forecast to post a net loss per share of US$3.26 next year compared to a net loss per share of US$4.10 last year. Board Change • Mar 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. Independent Director Mark Dunkerley was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 10
Spirit Airlines, Inc. Provides Earnings Guidance for the First Quarter of 2024 Spirit Airlines, Inc. provided earnings guidance for the first quarter of 2024. The company estimates the first quarter 2024 total revenue will range between $1.25 billion and $1.28 billion. For the first quarter, the company estimates capacity will be up approximately 1.5% year-over-year, which is about 5.5 percentage points lower than projected back in October. Announcement • Nov 16
Spirit Airlines Carry-On Fee Class Action Settlement: Claim Submission Now Open Klafter Lesser LLP and the Hermina Law Group are pleased to announce that the settlement website, www.SpiritCarryOnBagFeeSettlement.com, is now accepting claims to share in a proposed $8.25 million settlement that has been reached in a class action against Spirit Airlines, Inc. concerning the carry-on fees it charged United States passengers who booked their first Spirit flight through certain on-line travel agents during the period August 31, 2011, and May 3, 2017. The settlement was reached in Cox, et al., v. Spirit Airlines, Inc., Civil Action No. 17-CV-5172 (EK)(VMS), which is pending in federal court in Brooklyn, New York and is subject to approval by that Court. A Notice describing the settlement in detail, your rights, and the Claim Form to be submitted no later than January 10, 2024 in order to be eligible to share in the settlement can be found at www.SpiritCarryOnBagFeeSettlement.com. Jeffrey Klafter, one of the principal lawyers prosecuting this case states: "We urge every eligible Class member to submit a claim form so they can receive as much as 75% of the carry-on fee they paid. The Claim Form is simple and will take no more than five minutes to complete." "Class members should do this as soon as possible," said John Hermina, co-counsel in the case. The Court has scheduled a hearing on December 11, 2023, to consider final settlement approval. Announcement • Oct 13
Spirit Airlines, Inc. to Report Q3, 2023 Results on Oct 26, 2023 Spirit Airlines, Inc. announced that they will report Q3, 2023 results Pre-Market on Oct 26, 2023 Announcement • Sep 12
Allegiant Travel Company (NasdaqGS:ALGT) entered into a definitive agreement to acquire Boston Logan and Newark Liberty International Airports from Spirit Airlines, Inc. (NYSE:SAVE). Allegiant Travel Company (NasdaqGS:ALGT) entered into a definitive agreement to acquire Boston Logan and Newark Liberty International Airports from Spirit Airlines, Inc. (NYSE:SAVE) on September 11, 2023. Under the agreement, Spirit Airlines will transfer Spirit's assets in Boston and Newark, including gates and landing authorizations, to Allegiant. It will also yield up to five gates at Fort Lauderdale to facilitate Allegiant's growth. The divestiture is contingent on the JetBlue-Spirit transaction's closure. The transaction is subject to approval from local airport authorities and the FAA/DOT. Announcement • Aug 04
Spirit Airlines, Inc. Provides Earnings Guidance for Third Quarter 2023 Spirit Airlines, Inc. provided earnings guidance for third quarter 2023. For the quarter, the company expects total revenue for the third quarter 2023 will range between $1.3 billion and $1.32 billion down 3.2% to down 1.7%, with capacity increasing 13.7% year-over-year. This equates to unit revenue being down 13.6% to 14.9% year-over-year in the third quarter. Announcement • Jul 25
Spirit Airlines, Inc. to Report Q2, 2023 Results on Aug 03, 2023 Spirit Airlines, Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 03, 2023 Announcement • Jun 02
Frontier Group Holdings, Inc. (NasdaqGS:ULCC) entered into an agreement to acquire LaGuardia Airport from Spirit Airlines, Inc. (NYSE:SAVE). Frontier Group Holdings, Inc. (NasdaqGS:ULCC) entered into an agreement to acquire LaGuardia Airport from Spirit Airlines, Inc. (NYSE:SAVE) on June 1, 2023. Announcement • Feb 17
Spirit Airlines, Inc. Announces the Launch of New Nonstop Service from San José Mineta International Airport Spirit Airlines announced the launch of new, nonstop service from San José Mineta International Airport (SJC). The carrier is kicking off the new service with two daily flights to Las Vegas (LAS) and daily flights to Dallas (DFW) and San Diego (SAN). Spirit Airlines Routes at SJC: Destination: Dallas (DFW), Flights Available: Daily, Launch date: June 7, 2023; Las Vegas (LAS), Flights Available: Twice Daily, Launch date: June 7, 2023; San Diego (SAN), Flights Available: Daily, Launch date: June 7, 2023. The new service marks the seventh airport Spirit serves in the Golden State, joining Burbank (BUR), Los Angeles (LAX), Oakland (OAK), Orange County (SNA), Sacramento (SMF) and San Diego (SAN). Spirit first launched California service in Los Angeles in 2000 and has grown to more than 55 daily departures to 23 out-of-state destinations. In the past three years, the carrier has grown the number of flights by 41% and seats by 46% statewide. Introductory Fares: Guests traveling on these new routes can enjoy introductory fares for a limited time, with travel date restrictions. Fares include: Dallas (DFW)/San José (SJC): starting at $89 one-way; Las Vegas (LAS)/San José (SJC): starting at $39 one-way; San Diego (SAN)/San José (SJC): starting at $59 one-way. Announcement • Feb 16
Spirit Airlines Announces the Launch of Five New, Nonstop Routes from Luis Muñoz Marín International Airport Spirit Airlines announced the launch of five new, nonstop routes from Luis Muñoz Marín International Airport (SJU). The expansion adds convenient and affordable flights to Atlanta (ATL), Chicago (ORD), Dallas (DFW), Detroit (DTW) and Hartford (BDL), growing Spirit's Puerto Rico service from 11 destinations to 16 by June 2023. The carrier also announced it will increase flights between San Juan (SJU) and Orlando (MCO) to five flights daily and grow flights between San Juan and Baltimore (BWI), Fort Lauderdale (FLL) and Newark (EWR) to two flights daily. Spirit first landed on the island in 2001 with service to San Juan (SJU) and has grown its Puerto Rican route map to include Aguadilla (BQN) and Ponce (PSE). The airline will offer 21 peak-day departures in San Juan by June 2023, making it the second-largest carrier by destinations, seats and available seat miles (ASM). This adds to Spirit's growth across the island, which represents more than 200% growth in the past four years. The carrier's commitment to Puerto Rico extends beyond high-value travel options and deep into the vibrant community. The Spirit Charitable Foundation has supported multiple nonprofits doing meaningful work on the island and has donated more than $100,000 in hurricane relief efforts. Introductory Fares: Guests traveling between these new routes can enjoy introductory fares for a limited time, with travel dates and blackout date restrictions. Fares include: Atlanta (ATL)/San Juan (SJU): starting at $59 one-way; Chicago (ORD)/San Juan (SJU): starting at $69 one-way; Dallas (DFW)/San Juan (SJU): starting at $59 one-way; Detroit (DTW)/San Juan (SJU): starting at $79 one-way; Hartford (BDL)/San Juan (SJU): starting at $59 one-way. Announcement • Feb 08
Spirit Airlines, Inc. Announces Executive Changes Spirit Airlines announced several leadership promotions and organizational updates across multiple divisions of the company. Scott Haralsonis promoted to Executive Vice President. In this role, Haralson will provide financial management, planning and guidance, and he will continue to report to President & Chief Executive Officer Ted Christie. Haralson has held multiple corporate finance leadership positions with Spirit since 2012 and most recently served as Senior Vice President & Chief Financial Officer since 2018. Simon Gore, Treasurer, has also taken on responsibility for overseeing fuel operations across Spirit’s network. Gore has held various positions in the company since 2008. Announcement • Feb 07
Spirit Airlines, Inc. Provides Operating Guidance for the First Quarter of 2023 and Full Year of 2023 Spirit Airlines, Inc. provided operating guidance for the first quarter of 2023 and full year of 2023. For the quarter, the company expects available seat miles change to be 13.2% compared to 2022.For the year, the company expects available seat miles change to be 19% to 22% compared to 2022. Announcement • Jan 19
Spirit Airlines, Inc. to Report Q4, 2022 Results on Feb 06, 2023 Spirit Airlines, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 06, 2023