Spirit Airlines, Inc. (SAVE - Free Report) announced plans of adding new routes to Las Vegas and Oakland from John Wayne Airport (SNA), in Orange County, CA. Sprit Airlines will operate the new daily nonstop flights from Nov 17, 2020. The move is aimed at taking advantage of the improvement in air travel demand (particularly leisure travel), following the easing of restrictions.
The carriers’ arrival at John Wayne facilitates one-stop access to cities across the country. The carrier will operate two daily flights from SNA to Oakland International Airport (OAK) in addition to daily flights to Las Vegas McCarran International Airport (LAS). The flight to Las Vegas comes with convenient connections to another 15 major U.S. cities. This should enable it attract significant traffic and boost the top line.
Safety Measures Adopted
In a bid to promote safety and restore confidence of people in boarding flights, the carrier has made it mandatory for all to wear multi-layered face coverings. Moreover, each of its plane uses state-of-the-art, high-efficiency particulate air (HEPA) filters that capture 99.97% of particles and filter the air for contaminants every three minutes. After each flight, enhanced cleaning procedures are adopted on high-touch areas such as tray tables and armrests using hospital-grade disinfectants. The carrier also uses two EPA-registered fogging treatments. The first applies a safe, high-grade disinfectant that’s effective against coronaviruses. The second uses an antimicrobial product that forms an invisible barrier on all surfaces that kills bacteria and viruses on contact for 30 days.
Zacks Rank & Stocks to Consider
Spirit Airlines currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , United Parcel Service, Inc. (UPS - Free Report) and Werner Enterprises, Inc. (WERN - Free Report) . Knight-Swift sports a Zacks Rank #1(Strong Buy), while UPS and Werner carry a Zacks Rank #2(Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, UPS and Werner is pegged at 15%, 7.7% and 8.5%, respectively.
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