1 year ago

Frontier Airlines Sees Market Share Gains Amid Spirit Bankruptcy

Frontier Airlines Sees Market Share Gains Amid Spirit Bankruptcy
Frontier surges as rival Spirits second bankruptcy stokes market share hopes · livemint.com

Spirit Airlines, a budget airline, has filed for bankruptcy again, which means they are having money problems.

Because of this, they plan to fly less.

Frontier, another budget airline, saw its stock price jump because people think they will now get more customers since Spirit is struggling.

Analysts at Deutsche Bank believe Frontier is in a good position to benefit from this situation.

Spirit plans to cut back on some of its flights.

Frontier has also recently announced new routes and offers to attract passengers.

Full-service airlines like United and Delta might also have an advantage.

Key facts

Company
Frontier Airlines, Spirit Airlines
Stock Increase
Frontier shares jumped 15%
Bankruptcy Filing
Spirit Airlines filed for bankruptcy for the second time in a year
Analyst Rating
Deutsche Bank upgraded Frontier to "buy" from "hold"
Spirit's Plan
Reduce debt and lease obligations, shrink footprint

Sources

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