Levi & Korsinsky notifies investors that it has commenced an investigation into Spirit Airlines, Inc. (NYSE: SAVE) concerning potential violations of the federal securities laws.
Spirit issued a press release announcing the Company's first quarter 2024 financial results on May 6, 2024. Spirit reported operating revenues down 6.2% year-over-year, resulting in a loss of $1.46 per share. The Company also reported a 16.3% drop in fare revenue per segment, a 1.4% drop in non-ticket revenue, and a 0.1% drop in load factor. Spirit Chief Executive Officer Ted Christie said that "[t]he competitive environment remains challenging due to elevated capacity in many of the markets we serve." Following this news, Spirit's stock price dropped over 11%.
If you suffered a loss on your Spirit Airlines, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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