SAVE Earnings: Spirit Airlines Crumbles After Weak Q1 Numbers - TipRanks.com

Spirit Airlines (NYSE:SAVE) reported a disappointing first quarter with a 6.2% decline in revenue to $1.27 billion and a net loss per share of $1.46, missing expectations slightly. The company faced challenges including weather issues, air traffic delays, and operational difficulties in Haiti, leading to decreased aircraft utilization and a lower load factor.

Following the termination of its merger with JetBlue, Spirit received $69 million and is focusing on improving liquidity and operational efficiency, expecting a significant boost in cash levels. The company has also postponed aircraft deliveries to manage costs better. Amid these efforts, Spirit's stock has dropped significantly over the past year, and analysts maintain a Moderate Sell consensus on the stock.