Spirit Airlines forecasts weak Q2 revenue on slow growth in domestic demand

Spirit Airlines forecasts a weak Q2 revenue due to sluggish domestic demand and the grounding of numerous aircraft linked to issues with RTX's Pratt & Whitney engines. The company faces increased labor costs and reduced capacity, expecting to have about 25 planes grounded throughout 2024. Revenue projections for Q2 are below analysts' expectations, with the company also implementing cost-control measures including delaying aircraft deliveries and planning pilot furloughs.