Spirit Airlines Q1 2024 net loss $160.2M; cost savings $75M+; AOG credits $150-200M; fleet deferrals

Spirit Aviation Holdings, Inc.

2024-Q1 EPS reported -$1.30 revenue$1,265,537,000

Q1 2024 operating loss of $207.3M; adjusted net loss of $160.2M ($1.46 diluted EPS).
Total operating revenues $1,265.5M, down 6.2% YoY; TRASM decreased 8.2% to 9.38 cents.
Cost saving initiatives expected to benefit 2024 by over $75M; annualized run-rate over $100M.
Reached agreement with Pratt & Whitney for AOG compensation; expects $150-200M credits in 2024.
Deferred Airbus deliveries from Q2 2025-2026 to 2030-2031; enhances 2024 liquidity by ~$230M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Spirit Aviation Holdings, Inc. reported first quarter of 2024 results: revenue $1,265.5 million, net income $(142.6) million, EPS $(1.30).

Period: first quarter of 2024
Revenue: $1,265.5 million
Net income: $(142.6) million
EPS: $(1.30)
Result: reported results

Exact text from the filing

portion of the credits from Pratt & Whitney related to aircraft unavailable for service. First Quarter 2024 (unaudited) As Reported Adjusted 1 Total operating revenues $1,265.5 million $1,265.5 million Operating income (loss) $(207.3) million $(175.6) million Operating margin (16.4)% (13.9)% Adj. Operating income (loss), for AOG credits — $(146.6) million Adj.

View on SEC.gov

1436 earnings releases filed in the last 30 days. Browse all earnings releases →

Spirit Aviation Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001498710-24-000165

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.