Spirit Airlines shares drop further

Spirit Airlines stock fell 15% on Friday after an investor update suggested that pricing will remain weak for the foreseeable future. Shares ended the week down a full 50% from the all-time high reached in late 2014. This performance doesn’t have any bearing on the Spirit’s business model and the airline expects to post double-digit profit growth this year, and is likely to do so again in 2016. However, Spirit’s unit revenue fell 12.5% year over year in the first half of 2015 with Spirit’s updated third-quarter guidance issued on Thursday expecting that unit revenue declined about 17% to 18%