Spirit Airlines Battered by Harvey, Then Irma
Spirit Airlines (NASDAQ: SAVE) has already had a rough 2017, but it's clear that things are about to get a lot worse for the beleaguered discount airline. After a costly spate of pilot-related cancellations in May, Hurricanes Harvey and Irma will continue to take a toll on Spirit's results through the remainder of this year.
One of Spirit's most important markets happens to be Houston -- ground zero for Hurricane Harvey damage -- which represents roughly 10% of the company's flight volume. In addition, the company's largest market by far is Fort Lauderdale, with roughly 400 weekly departures, 2.5 times as many as Houston. Orlando is Spirit's third-largest market, with roughly 210 weekly departures. And while neither Fort Lauderdale or Orlando suffered a direct hit from Irma, both airports have been closed due to the hurricane since Saturday, Sept. 9, and are only expected to begin limited service again on Tuesday, Sept. 12.
Image source: Spirit Airlines.
Source: Fool.com
Spirit Airlines, Inc. Stock
With 17 Sell predictions and no Buy predictions the community is very low on the Spirit Airlines, Inc. stock.
A slightly negative potential of -17.43% at a current price of 3.63 € for Spirit Airlines, Inc. is the result of a target price of 3 €.
