in

Spirit Airlines beats estimates on strong travel demand

Shares of Spirit rose over 7% to $21 in aftermarket trade.

U.S. airlines have been trying to cash in on strong demand for air travel, undeterred by rising interest rates and a looming recession, as pandemic restrictions ease.

“Leisure demand has remained strong,” said Spirit’s chief executive Ted Christie.

However, adverse weather, worker shortages and technical glitches have snarled operations over the past year.

Spirit earned $0.12 per share on an adjusted basis, above analyst estimates of $0.04 per share, according to Refinitiv data.

The Miramar, Florida-based airline’s total operating revenue in the quarter rose nearly 41% to $1.39 billion, compared with analysts’ estimates of $1.38 billion.


Source: Economy - investing.com

Where on Earth is big oil spending its $150bn profit bonanza?

The next ‘White Lotus’ is expected to be filmed in one of these locations in Asia