BRIEF-Spirit Airlines Provides Preliminary Q1 Estimates

Reuters04-15

April 15 (Reuters) - Spirit Airlines Inc :

* SPIRIT AIRLINES - INITIAL Q1 2024 ADJUSTED OPERATING MARGIN GUIDANCE, COMPANY ESTIMATED IT WOULD RECOGNIZE APPROXIMATELY $38 MILLION OF CREDITS FOR AOG AIRCRAF

* SPIRIT AIRLINES: NOW ESTIMATES IT WILL RECOGNIZE APPROXIMATELY $1.6 MILLION OF CREDITS RELATED TO AOG AIRCRAFT IN Q1

* SPIRIT AIRLINES: ESTIMATED IMPACT OF THE AGREEMENT ON CO’S LIQUIDITY FOR THE FULL YEAR 2024 IS CURRENTLY EXPECTED TO BE BETWEEN $150 MILLION AND $200 MILLION

* SPIRIT AIRLINES - ESTIMATES IT WILL END THE FULL YEAR 2024 WITH APPROXIMATELY $1.4 BILLION OF LIQUIDITY

* SPIRIT AIRLINES: TOTAL OPERATING EXPENSES FOR QUARTER ARE ESTIMATED TO BE IN LINE WITH COMPANY'S PREVIOUS GUIDANCE

* SPIRIT AIRLINES - ESTIMATES TOTAL CAPITAL EXPENDITURES FOR Q1 2024 WERE APPROXIMATELY $30 MILLION

* SPIRIT AIRLINES SEES Q1 2024 ADJUSTED OPERATING MARGIN WILL BE NEGATIVE 14.5 PERCENT TO NEGATIVE 13.5 PERCENT

* SPIRIT AIRLINES SEES Q1 2024 ADJUSTED OPERATING MARGIN WILL BE NEGATIVE 14.5 PERCENT TO NEGATIVE 13.5 PERCENT

* SPIRIT AIRLINES - COMPANY ESTIMATES IT WILL END FULL YEAR 2024 WITH APPROXIMATELY $1.4 BILLION OF LIQUIDITY

* SPIRIT AIRLINES SEES Q1 TOTAL REVENUES APPROX. $1,265 MILLION

* Q1 REVENUE VIEW $1.27 BILLION -- LSEG IBES DATA

* SPIRIT AIRLINES - ESTIMATES IT ENDED Q1 2024 WITH $1.2 BILLION OF UNRESTRICTED CASH AND CASH EQUIVALENTS

* SPIRIT AIRLINES - TO DISCUSS ARRANGEMENTS WITH PRATT & WHITNEY FOR ANY SPIRIT AIRCRAFT THAT REMAIN UNAVAILABLE FOR OPERATIONAL SERVICE AFTER DEC 31

* SPIRIT AIRLINES - ON MARCH 26, 2024, SPIRIT ENTERED INTO AN AGREEMENT WITH INTERNATIONAL AERO ENGINES, LLC

* SPIRIT AIRLINES - IAE WILL PROVIDE SPIRIT WITH A MONTHLY CREDIT THROUGH END OF 2024

* SPIRIT AIRLINES - ESTIMATED IMPACT OF AGREEMENT WITH IAE ON SPIRIT'S LIQUIDITY FOR 2024 IS CURRENTLY EXPECTED TO BE BETWEEN $150 MILLION AND $200 MILLION

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