Spirit Airlines shares fall after lowering Q2 forecast

Spirit Airlines

17/07/2024 10:25

** Shares of Spirit Airlines  SAVE.N  down ~5.4% at $2.9 in
premarket 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-$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;))