Last $64.73 USD
Change Today +2.20 / 3.52%
Volume 700.5K
SAVE On Other Exchanges
As of 2:19 PM 10/23/14 All times are local (Market data is delayed by at least 15 minutes).

spirit airlines inc (SAVE) Snapshot

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52 Week High
09/8/14 - $74.00
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10/30/13 - $39.36
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spirit airlines inc (SAVE) Details

Spirit Airlines, Inc. provides low-fare airline services. It operates approximately 250 daily flights to 50 destinations in the United States, Caribbean, and Latin America. As of December 31, 2013, the company had a fleet of 54 Airbus single-aisle aircraft comprising 29 A319s, 23 A320s, and 2 A321s. Spirit Airlines, Inc. was founded in 1964 and is headquartered in Miramar, Florida.

3,619 Employees
Last Reported Date: 02/20/14
Founded in 1964

spirit airlines inc (SAVE) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $480.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $305.0K
Chief Operating Officer and Senior Vice Presi...
Total Annual Compensation: $179.4K
Senior Vice President, Acting Vice President ...
Total Annual Compensation: $308.5K
Compensation as of Fiscal Year 2013.

spirit airlines inc (SAVE) Key Developments

Spirit Airlines to Launch Daily Nonstop Service from San Diego to Denver

Spirit Airlines, Inc. has announced that it will launch a new daily nonstop service from San Diego to Denver, beginning January 5, 2015. This now makes a total of four destinations where the airline operates nonstop flights from San Diego, including: Dallas/Fort Worth, Houston (Bush Intercontinental), Las Vegas, and Los Cabos, Mexico. Spirit also recently announced new daily nonstop service from San Diego to Chicago (O'Hare) starting on April 16, 2015.

Spirit Airlines, Inc. Enters into Debt Financing Agreement

Spirit Airlines, Inc. entered into a Framework Agreement, dated as of October 1, 2014 with BNP Paribas; Natixis, S.A.; Landesbank Hessen-Th ringen Girozentrale and KfW IPEX-Bank Gmbh, as initial senior lenders, and Investec Bank plc, as initial junior lender, providing for up to $379 million of debt financing for seven Airbus A320-200 aircraft and three Airbus A321-200 aircraft scheduled for delivery under the company's existing purchase agreement with AVSA S.A.R.L. between October 2014 and September 2015. Each loan to be extended under the Framework Agreement will be funded on or about the delivery date of each aircraft and will be secured by a first-priority security interest in the individual aircraft. Wilmington Trust Company will act as security trustee. Each loan will amortize quarterly on a mortgage-style basis, with senior loans having a 12-year term and junior loans having a 7-year term. Loans will bear interest payable quarterly on a floating rate basis, provided that the Company may elect in advance a fixed rate basis. Floating rate loans will bear interest at a rate of 3-month LIBOR plus 2.0%-2.1% for senior loans, depending on the type of aircraft, and 3-month LIBOR plus 5.15% for junior loans. Fixed rate loans, if elected by the company, will bear interest based on the sum of the applicable LIBOR swap rate; the applicable senior or junior floating rate margin, and 0.15% for senior loans, or 0.18% for junior loans. Each loan is pre-payable with a premium prior to the second anniversary of such loan and at par thereafter. The closing of each loan will be subject to delivery and possession of the aircraft, execution and delivery of related loan and aircraft delivery documents and other customary conditions for transactions of this type. In addition, the loan for each aircraft will be cross-defaulted and cross-collateralized to the loans for the other aircraft that are subject to this transaction and each loan will include customary terms and provisions for transactions of this type, including covenants regarding maintenance, operation, registration, liens and insurance with respect to the aircraft, as well as defaults relating to payment and performance of loan obligations.

Spirit Airlines, Inc.'s Flight Attendants Reject Another Contract

Spirit Airlines, Inc.'s flight attendants have rejected a tentative contract agreement for the second time in 2014. In a majority vote on October 1, 2014, the flight attendants represented by the Association of Flight Attendants-CWA failed to ratify a new contract agreement brokered in August by leaders of both sides. Of the 78% of Spirit's 1,400 flight attendants who participated in the ballot, 64% voted against the contract.


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