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Spirit Airlines (SAVE) to Begin Four New Hampshire Routes
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Spirit Airlines, Inc. (SAVE - Free Report) plans to add non-stop flights from Manchester-Boston Regional Airport to four Florida destination spots — Fort Lauderdale, Fort Myers, Orlando and Tampa. The services will be starting from Oct 7, 2021. Notably, Manchester is the 11th new destination added to Spirit Airlines network in the past year.
As part of its expansion strategy, daily flights connecting Manchester to both Fort Lauderdale and Orlando will begin from Oct 7. Flights to Fort Myers from Manchester will be available four times a week and will commence from Nov 17. Services to Tampa will begin on Nov 18 and will be available three times a week.
With more and more Americans getting inoculated, air-travel demand (especially for leisure) is picking up sharply. We believe that the inauguration of new services by Spirit Airlines will help it recover from prolonged COVID-19 led crisis by attracting substantial traffic. As a result of anticipated traffic swell, passenger revenues — accounting for bulk of the carrier’s top line — is likely to receive a boost.
We remind investors that owing to improving air-travel demand, Spirit Airlines had recently provided a bullish forecast for the June-quarter load factor (% of seats filled by passengers). This Miramar, FL-based ultra low-cost carrier expects load factor for second-quarter 2021 to be 84%, in line with second-quarter 2019 actuals. Moreover, the June-quarter expectation is much higher than 72.1% reported in the March quarter.
Zacks Rank & Stocks to Consider
Spirit Airlines currently carries a Zacks Rank #3 (Hold).
Long-term (three to five years) expected earnings per share growth rate for Landstar, Triton and FedEx is projected at 12%, 10% and 12%, respectively.
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Spirit Airlines (SAVE) to Begin Four New Hampshire Routes
Spirit Airlines, Inc. (SAVE - Free Report) plans to add non-stop flights from Manchester-Boston Regional Airport to four Florida destination spots — Fort Lauderdale, Fort Myers, Orlando and Tampa. The services will be starting from Oct 7, 2021. Notably, Manchester is the 11th new destination added to Spirit Airlines network in the past year.
As part of its expansion strategy, daily flights connecting Manchester to both Fort Lauderdale and Orlando will begin from Oct 7. Flights to Fort Myers from Manchester will be available four times a week and will commence from Nov 17. Services to Tampa will begin on Nov 18 and will be available three times a week.
With more and more Americans getting inoculated, air-travel demand (especially for leisure) is picking up sharply. We believe that the inauguration of new services by Spirit Airlines will help it recover from prolonged COVID-19 led crisis by attracting substantial traffic. As a result of anticipated traffic swell, passenger revenues — accounting for bulk of the carrier’s top line — is likely to receive a boost.
We remind investors that owing to improving air-travel demand, Spirit Airlines had recently provided a bullish forecast for the June-quarter load factor (% of seats filled by passengers). This Miramar, FL-based ultra low-cost carrier expects load factor for second-quarter 2021 to be 84%, in line with second-quarter 2019 actuals. Moreover, the June-quarter expectation is much higher than 72.1% reported in the March quarter.
Zacks Rank & Stocks to Consider
Spirit Airlines currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector include Landstar System, Inc. (LSTR - Free Report) , Triton International Limited and FedEx Corporation (FDX - Free Report) . All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.
Long-term (three to five years) expected earnings per share growth rate for Landstar, Triton and FedEx is projected at 12%, 10% and 12%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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