Key Developments: Spirit Airlines Inc (SAVE.O)
28.50USD
17 May 2013
$-0.16 (-0.56%)
$28.66
$28.84
$29.07
$28.50
385,024
674,179
$29.93
$15.64
Latest Key Developments (Source: Significant Developments)
Spirit Airlines Inc Announces Sale Of Common Stock By Oaktree Capital Management, L.P.
Spirit Airlines Inc announced the public offering of 9,394,927 shares of common stock by certain existing stockholders affiliated with Oaktree Capital Management, L.P. (Oaktree). Upon completion of the offering, investment funds affiliated with Oaktree will own no shares of common stock of Spirit Airlines. The Company will not receive any proceeds from this offering. Deutche Bank Securities is acting as the sole underwriter for the offering. Full Article
Spirit Airlines Inc Announces Service From Dallas/Fort Worth To Toluca/Mexico City, Detroit and San Diego
Spirit Airlines Inc announced that it will start non-stop daily service from Dallas/Fort Worth to three more new cities on June 21, 2012, including Toluca/Mexico City, Detroit and San Diego. Full Article
Spirit Airlines Inc Lures Away Pinnacle CFO-The Commercial Appeal
The Commercial Appeal reported that Pinnacle Airlines Corp. Chief Financial Officer (CFO) Ted Christie has resigned after eight months on the job to take the same position at Spirit Airlines Inc. Pinnacle, a Memphis-based operator of regional airlines, said it's looking for a successor to Christie, who leaves March 30. The departure of the former Frontier Airline CFO comes as financially troubled Pinnacle attempts to restructure without entering Chapter 11 bankruptcy. Christie was part of a new management team that president and CEO Sean Menke assembled after he was named permanent successor to former Pinnacle president Phil Trenary last June. Full Article
Spirit Airlines Inc Partners With MyAssist To Deliver On-the-Go Concierge Services
Spirit Airlines Inc announced a partnership to provide personal assistance and concierge services to Spirit Airlines customers. From trip-planning logistics, securing reservations and event tickets, to emergency assistance in a time of need, Spirit Concierge representatives are available to deliver a broad range of personal assistance services. Full Article
Spirit Airlines Inc Announces Proposed Secondary Offering Of Common Stock
Spirit Airlines Inc announced its intention to conduct a secondary offering to the public of 11,000,000 shares of common stock. In addition, the underwriters will have a 30-day option to purchase from selling stockholders up to an additional 1,650,000 shares of common stock to cover over-allotments, if any. All of the shares of common stock will be offered and sold by existing stockholders of the Company, including affiliates of Oaktree Capital Management and Indigo Partners and certain members of the Company's executive team, and the selling stockholders will receive all of the net proceeds from the offering. The Company will not be selling any shares in the offering. Barclays Capital, Morgan Stanley and Citigroup will be joint bookrunners for the offering. Deutsche Bank Securities, Raymond James, Dahlman Rose & Company, Evercore Partners and Macquarie Capital will be the co-managers. The offering is being made by the selling stockholders by means of a written prospectus that will form part of the effective registration statement. Full Article
EADS NV's Airbus Signs MoU With Spirit Airlines Incorporated For 30 A320s, 45 A320neos-DJ
Dow Jones reported that EADS NV's Airbus signed a memorandum of understanding with Spirit Airlines Incorporated for 75 single-aisle aircraft, a deal worth $6.7 billion at current list prices. The order includes 45 new fuel-efficient A320neo aircraft and 30 A320s, Airbus said in an announcement at the Dubai Air Show. The engine selection will be made 'well ahead of delivery,' which will begin in 2016 and go through 2021, said Spirit Airlines President and CEO Ben Baldanza. Full Article
Supreme Court won't hear airline appeal of ad rule
WASHINGTON - The Supreme Court on Monday declined to hear a challenge to a federal government rule that requires airlines to advertise the full cost of tickets.
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