Reported 2 months ago
Spirit Airlines has announced that it expects its third-quarter revenue to fall below analysts' estimates, projecting between $1.16 billion and $1.18 billion, compared to the $1.33 billion anticipated by the market. This downturn is attributed to fierce competition, overcapacity, and operational disruptions stemming from a CrowdStrike IT outage that led to the cancellation of 470 flights, costing the airline $7.2 million. The airline also reported a wider-than-expected loss in the previous quarter as issues with specific aircraft engines further impacted its operations.
Source: YAHOO