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Why Spirit Airlines Shares Are Soaring (Again) Today

TheMotleyFool 
0 0 25.10.24
Why Spirit Airlines Shares Are Soaring (Again) TodayPhoto, wide shot, wide-angle lens, soft focus, Movie theater, sunset photo at golden hour, photo by Marc Adamus: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-gXhfb5xMEy8zG0qLmxYAOaHt.png?st=2023-05-14T13%3A29%3A06Z&se=2023-05-14T15%3A29%3A06Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-14T01%3A25%3A03Z&ske=2023-05-15T01%3A25%3A03Z&sks=b&skv=2021-08-06&sig=cyWAC06qXhBJ4kv4K4eQVNNwtdGGK962uEjAh4%2B61ZY%3D
 

Just when it looks like the stock's rally is out of fuel, Spirit Airlines (NYSE: SAVE) finds a way to send its shares even higher. Today's near-20% jump is being driven by another round of news that the struggling airline may yet find a way to sidestep a potential bankruptcy.

It's been a storied week for the company to say the least. Last Friday its credit card processor (U.S. Bank National Association) granted Spirit an additional two months to refinance its debt, providing the airline with much-needed room to improve its current fiscal situation before approaching lenders.

Then on Wednesday, whispers of an acquisition resurfaced. The Wall Street Journal's report suggested Frontier Airlines was considering making an offer for the distressed rival airline that hasn't turned a quarterly profit since the middle of 2020.

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Source Fool.com

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