$140 million net loss for Spirit Airlines in first quarter, will furlough up to 260 pilots

Spirit Airlines’ disappointing start to the year with the termination of its $3.8bn merger agreement with JetBlue has deepened with its first quarter net loss totalling $142.6 million, with a $1.30 loss per share. It marks an even greater loss than last year’s first quarter net loss of $103.9 million. The airline’s total operating revenues were down from $1.35bn in last year’s first quarter to $1.27bn in the first quarter of this year. Its reported operating loss was $207.3 million, with its adjusted operating loss beating TD Cowen’s estimations of $180 million at $175.6 million. Its total operating expenses were