Spirit Airlines revises full year guidance upwards; boosts liquidity

Spirit Airlines expects total revenue for the fourth quarter of 2023 to be “at the high end” of guidance, noting that bookings over the peak festive travel period were strong. Lower fuel cost for the quarter resulting in lower-than-expected operating expenses for the airline, which led to a positively revised operating margin guidance up by 450 basis points from negative 15 to 19% to negative 12 to 13%. Spirit Airlines also noted that it had taken several steps during the fourth quarter to shore up liquidity to “allow it time to make the necessary strategic shifts to enable the Company