Spirit Airlines announces bankruptcy [Yahoo! Finance]
Spirit Airlines, Inc. (SAVE)
Last spirit airlines, inc. earnings: 2/5 04:14 pm
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Source: Yahoo! Finance
The airline has lost more than $2.5 billion since the beginning of 2020 and hasn't been profitable since the end of the pandemic. “From a customer's perspective, now it's time for revenge,” said George Washington University Professor Jungho Suh. Suh said the post-pandemic “revenge” travelers are willing to spend money for a better product, leading to challenges for low-cost carriers like Spirit. The Points Guy Founder, Brian Kelly, said Spirit started trying to cater to premium travelers. “Their model is very barebones, but they're working in a premium world,” Kelly said. Adding to the challenges for Spirit, last year, the Department of Justice sued to block a merger between Spirit and JetBlue, worried it would reduce competition. Transportation Secretary Pete Buttigieg, at the time said in a tweet, “competition supports better consumer choice and lower airfares”. “If you have a situation where you block a merger and then one of the airlines goes bankrupt, the people have
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- Analysis-Spirit Airlines' struggle to navigate post-pandemic trends lands it in bankruptcy [Yahoo! Finance Canada]Yahoo! Finance Canada
- What does the Spirit Airlines bankruptcy mean for airfares? Experts weigh in. [Yahoo! Finance]Yahoo! Finance
- How Spirit Airlines' Bankruptcy Filing Will Affect Holiday Flights [Yahoo! Finance]Yahoo! Finance
- Spirit's bankruptcy won't impact holiday travelers, experts say. But frequent flyers and routes could be impacted next year [Yahoo! Finance]Yahoo! Finance
- More from CNN [CNN]CNN
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