Spirit Airlines falls after lowering Q2 forecast

Spirit Airlines

17/07/2024 14:39

(Updates)
    ** Shares of Spirit Airlines  SAVE.N  down ~7% at $2.93 in
morning trade 
    ** Co on Tuesday cut its Q2 rev forecast, citing
lower-than-expected non-ticket revenue
    ** Expects Q2 rev of $1.28 bln, compared with its earlier
estimate of between $1.32 bln and $1.34 bln 
    ** Analysts estimate SAVE to report Q2 rev of ~$1.32 bln,
according to LSEG data 
    ** SAVE also forecast Q2 adj. operating loss of between $173
mln-$160 mln, compared with prior projection for a loss of $145
mln-$121 mln
    ** YTD, SAVE down ~80%

 (Reporting by Nathan Gomes in Bengaluru)
 ((Nathan.Gomes@thomsonreuters.com;))