Spirit Airlines Q2 2024 net loss $192.9M; revenue down 10.6%; targets $100M cost savings

Spirit Aviation Holdings, Inc.

2024-Q2 EPS reported -$3.07 revenue$2,546,426,000

Net loss $192.9M ($1.76 EPS); adjusted net loss $157.9M ($1.44 adjusted EPS).
Operating revenue $1,280.9M (down 10.6% YoY); total revenue per ASM down 12.1%.
Transformation plan: four fare options (Go Big, Go Comfy, Go Savvy, Go), no change/cancel fees.
Cost savings $100M annual run-rate target; $75M expected by year-end; furloughing ~240 pilots, downgrading ~100 captains.
Liquidity $1.14B at Q2 end; expects >$1.0B year-end; deferred Airbus deliveries from 2025-26 to 2030-31.

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