With just two weeks to go until the third quarter is over, various US airlines have fired warning shots over their financial results for Q3. Many cite rising labor expenses and oil prices and changing booking patterns as reasons for expected lower operating profits.
Spirit Airlines expects Q3 revenues to be lower to between $1.245 and $1.255 billion compared to the previous guidance of between $1.300 billion and $1.320 billion. Fuel costs will be higher at $3.06 per gallon versus $2.80 that was guided in August. The adjusted operating margin will be down to -14.5 to -15.5 percent compared to -5.5 to -7.5 percent. Capacity will grow by 13.4 percent year on year, slightly down from 13.7 percent in the earlier estimate.
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016.
Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.
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