Home  »  Today's Spotlight   »  Heading Towards a Potential Reversal? Spirit Airli...

Heading Towards a Potential Reversal? Spirit Airlines Inc. [SAVE]

Spirit Airlines Inc (SAVE) is experiencing strong demand for flights as the holiday season kicks off. This provides a better forecast for the upcoming quarter.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Spirit Airlines’ original plan was to have only 5.5% fewer passengers than in 2019. The high interest in air travel among Americans is likely to boost this number. U.S. airports passed nearly 2.1 million passengers through security checkpoints on Sunday, June 13 – the highest number since the start of the pandemic. Compared to a similar day in 2019, that’s just 17 % less. Although business travel is still scarce, and the holiday season has just begun, it’s an impressive statistic.

Furthermore, Spirit Airlines’ operating profitability improved throughout the quarter as a result of higher leisure demand. Accordingly, the airline expects to receive an adjusted EBITDA margin of moderately positive in the current quarter. Spirit Airlines’ performance will start to improve quickly for several reasons. A first point to note is this upward trend in pricing, especially when short-haul flights are involved.

Additionally, Spirit Airlines plans on increasing its capacity to carry as many passengers as possible. According to the company, it expects to use 10 % more bandwidth than it did during the third quarter of 2019. Even so, we must take into account that Spirit Airlines increased its aircraft fleet by 20% in the last two years. This means that even with a 10 % increase in capacity this summer, Spirit Airlines’ aircraft load will remain below the norm. Management estimates Spirit Airlines’ operating margin will be above the 2019 level by 2023.

Spirit Airlines Inc. (SAVE) shares trade at $33.37 after decreasing -2.48% at last check. The previous session ended with SAVE’s stock at $34.22. The volume was 4.1 million shares, increasing from the average daily volume of 3.51 million shares during the previous 50 days. The share price of SAVE has decreased by -2.14% over the last week, has risen by 67.52% over the past year. The stock has lost -13.64% over the past three months, while it has gained 25.07% over the past six months. Additionally, its current market value is $3.59 billion, and it has 97.78 million outstanding shares.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

Sign up for Our Newsletter Now! Discover which stocks to trade!
100% Free. Stop Anytime. No Spam