Spirit Airlines updates Q3 guidance

In an investor update to its third quarter guidance, Spirit Airlines has warned that it experienced “significant irregular operations due to a series of overlapping challenges, primarily adverse weather and airport staffing shortages, leading to severe crew dislocations”. Spirit cancelled 2,826 flights during the quarter and expects to book negative revenue of approximately $50 million. Spirit has also warned of “softer-than-expected” booking trends for the quarter and some amount of “short-term brand impact from the irregular operations”. These actions are expected to drive an additional $80 to $100 million of negative revenue impact during the third quarter. Spirit Airlines now