MESA - Spirit Airlines low-cost carriers edge lower on inflation concerns

Rapid increases in airfares are hurting airline stocks on Thursday, with particular impact on low-cost carriers.  The latest CPI print added to concerns that inflation is showing no signs of abating. For airfares, this concern was especially elevated. For the month of April, fares rose 18.6% from a month ago on an adjusted basis, adding to 10.7% and 5.2% gains in March and February, respectively. Fuel prices and labor issues continue to pressure the industry, prompting these significant price increases.  The significant price increases have aroused some caution about bullish summer forecasts for many airline carriers, especially those that rely upon delivering the lowest fares possible and regional airlines dependent on pilot availability. In fact, Spirit Airlines (NYSE:SAVE -3.8%), Mesa Air Group (MESA +2.7%), Sun Country Airlines (SNCY -1.6%), and Frontier Air Group (ULCC +0.6%) have all declined by 15% or more in just the past five days and look

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Spirit Airlines, low-cost carriers edge lower on inflation concerns