From CNBC: 2024-10-25 10:40:34

Spirit Airlines shares surged after announcing plans to cut jobs and sell aircraft to raise cash. The sale of 23 older Airbus aircraft will bring in $519 million. The airline aims to reduce costs by $80 million through layoffs. Despite struggles due to the pandemic, Spirit’s shares have tumbled over 80% this year. Potential merger talks with Frontier Airlines have also contributed to the increase in shares. Late Thursday, Spirit forecasted a third-quarter negative operating margin of 24.5%.



Read more at CNBC: Spirit Airlines stock jumps as carrier plans to sell planes, cut jobs