SAVE - Why Is Spirit Airlines Stock Diving Today? | Benzinga
Spirit Airlines Inc (NYSE:SAVE) reported a first-quarter fiscal 2024 revenue decline of 6.2% Y/Y to $1.265 billion, marginally missing the consensus of $1.269 billion.
Adjusted EPS loss was $(1.46), down from $(0.82), missing the consensus of $(1.45).
“While we reported a loss in the first quarter 2024, we are making progress towards our financial goals…. There are numerous steps to rollout the plan in a successful, orderly fashion, but we are on track and we are excited to unveil the milestones to you over the coming months,” said Ted Christie, Spirit’s President and Chief Executive Officer. “The competitive environment remains challenging due to elevated capacity in many of the markets we serve.”
Passenger revenues fell 6.6% Y/Y to $1.239 billion, while other revenue rose 17.6% Y/Y to $26.23 million.
Total revenue per ASM was 9.38 cents, down 8.2%Y/Y. Total revenue per passenger ...