Spirit Airlines Incorporated Earnings: Profit Plunges as a Fare War Heats Up
Spirit Airlines (NASDAQ: SAVE) faced severe challenges during the third quarter of 2017. Between late August and late September, Spirit's operations in Houston, Florida, and the Caribbean were disrupted by three major hurricanes: Harvey, Irma, and Maria. If that wasn't enough, a fare war with United Continental (NYSE: UAL) broke out over the summer.
Nevertheless, Spirit Airlines remained solidly profitable last quarter -- indeed, far more profitable than its nemesis, United. The company is preparing to deal with similar fare pressure at least through the end of the year.
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Source: Fool.com
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