Spirit Airlines jetliners on the tarmac at Fort Lauderdale Hollywood International Airport. (Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images)
Joe Cavaretta | South Florida Sun-sentinel | Getty Images
Spirit Airlines on Friday raised its financial forecast for the fourth quarter of 2023, sending shares soaring 17% after a rout earlier this week following a judge’s ruling that blocked JetBlue Airways from buying the budget carrier.
Spirit said in a filing that it expects revenue to come in at the high end of its earlier forecasts, thanks to strong bookings at the end of the year. It estimated adjusted negative margins of 12% to 13%, improvement from a previous forecast for as much as a 19% negative margin for the last three months of the year.
The airline also credited lower fuel costs and other expenses in its updated estimates.
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