“Weak” revenues drove “disappointing” results as Spirit posts near $200 million net loss

Spirit Airlines posted a net loss of $192 million for the second quarter of 2024 – adjusted to a loss of $157.9 million. In its earnings call, CEO and president Ted Christie said the “disappointing result” was largely driven by “weak revenue results”. The airline reported total operating revenues of $1.3bn in the quarter and an operating loss of $152.5 million. Its operating margin was a negative 11.9%. Diluted loss per share was $1.76 – adjusted to a loss of $1.44 per share. “The elevated level of industry capacity continues to make it very difficult to drive yield improvement for