secwatch.observer — SEC 8-K summary
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Issuer:     Spirit Aviation Holdings, Inc. (FLYYQ)
CIK:        0001498710
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001498710-24-000165
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498710/000149871024000165/0001498710-24-000165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498710/000149871024000165/save-20240506.htm
  HTML page:      https://secwatch.observer/filing/0001498710-24-000165

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