Spirit Airlines (SAVE) Shares Plummet by 9% Amid Gloomy Q2 Forecast, Shaking US Stock Markets
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- Spirit Airlines shares plummeted over 9% in morning trading in New York on Monday, following a weak forecast for Q2 revenue.
- The airline, grappling with issues related to RTX’s Pratt & Whitney Geared Turbofan engines, anticipates sluggish Q2 revenue due to slow recovery in domestic demand and the grounding of numerous aircraft.
- “Spirit’s advisers have started discussions with our loyalty bondholders and convert holders that come due in September 2025 and May 2026, respectively, and expect a resolution at some point this summer,” said Spirit Airlines CFO Scott Haralson.
Spirit Airlines stock takes a hit as the airline predicts weak Q2 revenue amidst slow domestic demand recovery and grounded aircraft.
Shares Slide Amidst Weak Q2 Revenue Forecast
Spirit Airlines shares took a significant hit, dropping by more than 9% in morning trading in New York on Monday. This drop comes in the wake of a weak forecast for Q2 revenue, with the airline citing slow improvement in domestic demand and the grounding of dozens of its aircraft as key factors.
