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Why Spirit Airlines Stock Is Losing Altitude Today

TheMotleyFool 
0 0 06.05.24
Why Spirit Airlines Stock Is Losing Altitude Today: https://g.foolcdn.com/editorial/images/776040/save-a319-exterior-source-save.jpg
 

Spirit Airlines (NYSE: SAVE) warned that sluggish demand and issues with its fleet would suppress second-quarter revenue. Investors were disappointed, sending Spirit shares down 9% as of 10:15 a.m. ET.

Spirit Airlines faces one of the most challenging sets of circumstances in the airline industry. It spent the last year prepping for a merger with JetBlue Airways but was forced to go it alone after competition regulators forced the merger partners to walk away earlier this year.

The airline is trying to chart a course as an independent at a time when a significant portion of its fleet is grounded. Spirit is a major user of planes powered by RTX turbofan engines that are subject to a recall.

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Source Fool.com

RTX A/S Stock

€10.65
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