Reported 3 months ago
Spirit Airlines has reported a greater-than-expected second-quarter loss, forecasting an adjusted loss of $160 million to $173 million, significantly above previous estimates. Revenue is projected at $1.28 billion, down from earlier expectations due to disappointing non-ticket revenues, which led to the company's shares plummeting to an all-time low, a decline of over 80% this year. The airline attributed the shortfall to changes in ancillary pricing amidst competitive market conditions, while expressing confidence in its ongoing transformation plan to recover revenue.
Source: YAHOO