Brief: Spirit Airlines - Identified Approximately $80 Million Of Annualized Cost Reductions That It Plans To Begin Implementing In Early 2025

Spirit Airlines

24/10/2024 22:19

Oct 24 (Reuters) - Spirit Airlines Inc  SAVE.N :
    * SPIRIT AIRLINES - IDENTIFIED APPROXIMATELY $80 MILLION OF
ANNUALIZED COST REDUCTIONS THAT IT PLANS TO BEGIN IMPLEMENTING
IN EARLY 2025
    * SPIRIT AIRLINES: AGREEMENT FOR SALE OF 23 A320CEO/A321CEO
AIRCRAFT TO GAT FOR AN EXPECTED TOTAL PURCHASE PRICE OF
APPROXIMATELY $519 MILLION
    * SPIRIT AIRLINES - COST REDUCTIONS ARE DRIVEN PRIMARILY BY
A
REDUCTION IN WORKFORCE
    * SPIRIT AIRLINES - EXPECTS TO END YEAR 2024 WITH OVER $1.0
BILLION OF LIQUIDITY
    * SPIRIT AIRLINES: FOR FULL YEAR 2025, ESTIMATES ITS
CAPACITY WILL
BE DOWN MID-TEENS YEAR OVER YEAR
    * SPIRIT AIRLINES - Q3 2024 CAPACITY WAS DOWN 1.2 PERCENT
YEAR
OVER YEAR
    * SPIRIT AIRLINES - ESTIMATES ITS Q4 2024 CAPACITY WILL BE
DOWN
ABOUT 20 PERCENT YEAR OVER YEAR

Source text for Eikon:  ID:n0001498710-24-000212 
Further company coverage:  SAVE.N 

 ((Reuters.Briefs@thomsonreuters.com;))