2024-05-15 09:15:00 ET
It has been a rough 2024 for Spirit Airlines (NYSE: SAVE) . Well, a rough last 10 years, if we're being honest. The discount airliner's proposed merger with Jet Blue was blocked by the U.S. government and it just reported another weak quarter of negative cash flow. It has struggled to generate profits for years and has a looming debt load that has major investors concerned.
Today, shares trade at a cheap looking $3.75, off over 95% from all-time highs set 10 years ago. Does that make Spirit Airlines a buy-the-dip candidate?
On May 6, Spirit Airlines reported its earnings for the first quarter of 2024. The company continues to struggle compared to the other major airliners in the United States. Operating loss was $207 million -- a negative 16.4% operating margin -- which was worse than the negative 8.3% margin it posted in the first quarter of 2023.
For further details see:
Spirit Airlines Stock Just Hit a New Low: Should You Buy the Dip?