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I would like to introduce some unfamiliar companies that may be of some help to your investments.
The company I’m going to introduce is Spirit Airlines, Inc.$Spirit Airlines(SAVE)$ .
It went public on May 26, 2011.
[Company Profile]
Spirit Airlines (NASDAQ: SAVE) is a major American ultra-low-cost carrier. It sells tickets through its call centers and airport ticket counters, as well as online through spirit.com; and through various third parties, including online, traditional travel agents, and electronic global distribution systems.
The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc. in 1992. Spirit Airlines, Inc. was founded in 1964 and is headquartered in Miramar, Florida.
Spirit was the eighth largest passenger carrier in North America as of 2020, as well as the largest ultra-low-cost carrier in North America. As of April 2022, both Frontier Airlines and JetBlue have made offers to acquire Spirit. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean.
[History & Events]
In 1980,Spirit Airlines was founded as Charter One, providing travel packages to various destinations, such as Atlantic City, Las Vegas and the Bahamas.
In 1992, Charter One introduced jets into the fleet, changing its name to Spirit Airlines and starting service from Detroit to Atlantic City.
In 2006, Spirit Airlines launched the “free Spirit” frequent flyer program.
In 2007, Spirit Airlines continued to expand its network, and the transition to the first ultra-low-cost carrier in the US began.
In 2010, Spirit Airlines started to charge for carry-on bags. Spirit Airlines’ carry-on bag program has proven successful for both the airline and customers.
In 2011, Spirit Airlines sold 15.6 million shares of common stock in its initial public offering, at $12 per share.
In 2012, Spirit Airlines and Airbus entered into an agreement for the firm order of 20 Airbus A321 aircraft scheduled for delivery between 2015 and 2017.
In 2016, Spirit Airlines took delivery of its first A320neo aircraft, becoming the first US airline to receive the new narrow-body Airbus. The ultra-low-cost carrier has a total of 55 A320neos on order, scheduled for delivery through 2021.
In 2018, Spirit Airlines announced that it is the first ultra-low-cost carrier to have high-speed Wi-Fi installed on its entire fleet. The entire fleet is expected to be finished in 2019.
In 2019, Spirit Airlines was operating approximately 600 daily flights to 72 destinations in the U.S., Latin America, and the Caribbean with an all-Airbus fleet.
In 2021, Spirit Airlines started the year expecting to get back to 2019 capacity levels by midyear, but the direct and indirect impacts of the pandemic have lasted longer than anyone could have predicted.
[Main Business Segments]
[Net Income & Total Revenue]
[Competitors]
Virgin America
Alaska Air Group$Alaska Air(ALK)$
United Airlines$United Continental(UAL)$
AirHelp
Frontier Airlines$Frontier Group Holdings, Inc.(ULCC)$
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