Spirit Airlines says wave of flight cancellations has cost the company $ 50 million so far

Spirit Airlines revealed on Monday that the company took a hit of $ 50 million during its recent spate of flight cancellations and delays after operational problems left thousands of the company’s customers on the ground and stranded those last few weeks.

Spirit has also said it will cut its schedule and expects the revenue losses to continue.

Teleprinter	Security	Last	Change	Change %
TO REGISTER	SPIRIT AIRLINES INC.	24.27	-0.46	-1.86%

SPIRIT AIRLINES PASSENGERS HAVE BLOCKED FOR MORE THAN 30 HOURS WITHOUT “ANY KIND OF RESOLUTION”

In an investor update filed with the Securities and Exchange Commission on Monday, Spirit reported that from July 30 to August 9 alone, the airline canceled more than 2,800 flights, accusing “significant irregular operations due to a series of overlapping challenges, mainly adverse weather conditions. and shortages of airport personnel.

Spirit said he is reducing his flight schedule in order to restore reliability.

The company wrote that it is also “seeing an increase in close-customer cancellations and softer-than-expected booking trends for the quarter, which are believed to be linked to the increase in COVID-19 cases and some impact. In the short term on the mark of irregular operations They say these factors will likely lead to additional negative revenue of $ 80-100 million in the third quarter.

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“On behalf of our entire management team, we apologize to all affected throughout this event,” Spirit President and CEO Ted Christie said in a statement. “We believe the disruption was a singular event brought about by an unprecedented confluence of factors and does not reflect systemic issues.”

Christie added, “Over the past few years, we have invested in becoming one of the most efficient and reliable airlines in the US industry, and we are committed to taking the necessary steps to ensure we maintain this. standard. “