Spirit Airlines lowers second-quarter outlook on weak non-ticket revenue
-Spirit Airlines on Tuesday cut its revenue outlook for the second quarter, citing lower-than-expected non-ticket revenue, sending its shares down more than 6% in extended trading.
Spirit said lower non-ticket revenue from ancillary services was a result of competitive pressures in the market. Additionally, Spirit estimates $37 million in AOG credit from Pratt & Whitney. The airline gets a monthly credit as compensation for Spirit being unable to use aircraft with engine issues.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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