Spirit Airlines (SAVE) Shares Surge Over 18% Amid Potential Frontier Bid

Oct 25, 2024

Spirit Airlines (SAVE, Financial) saw its stock rise more than 18%, reaching $2.87. The airline has announced plans to sell 23 Airbus aircraft and implement cost-cutting measures including layoffs and reducing its operations. These steps are part of Spirit's strategy to return to profitability, with the expected savings of approximately $80 million.

Additionally, there are reports suggesting that Frontier Airlines is considering reviving its bid for Spirit Airlines. Meanwhile, Spirit is in discussions about the terms of a potential bankruptcy filing.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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