Spirit Airlines (NYSE: SAVE) has updated its first-quarter guidance just weeks before it intends to announce finalized results. The move appears to have excited speculation among Spirit investors, sending the shares soaring 13% at the open Monday before retreating back to up 3% as of 1:30 p.m.

Spirit shareholders have endured a lot of turbulence in recent years. The company came into 2024 hoping to complete a sale to JetBlue Airways, but in March the two sides called off the deal because of regulatory opposition.

The termination left Spirit with the unenviable task of flying alone into some significant headwinds, including schedule disruptions caused by issues with RTX engines.

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Source Fool.com