Spirit Airlines warns of slow 2Q revenue growth due to domestic demand and fleet issues.
Spirit Airlines shares fell 9% after the company warned of slow 2Q revenue growth due to sluggish domestic demand and issues with its fleet. The airline is heavily impacted by issues with RTX's Pratt & Whitney Geared Turbofan engines, causing it to ground multiple aircraft and leading to high labor expenses and reduced capacity. Spirit forecasts its second-quarter revenue to be between $1.32-1.34bn, lower than analyst estimates.
May 06, 2024
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