Earlier this week, discounter
Spirit Airlines (NYSE:SAVE) reported a strong first quarter and gave investors reason to believe it would be among the first to fully recover from the pandemic. A rally Thursday was interrupted by a marketwide swoon on talks of possible tax hikes, but the shares jumped more than 5% on Friday morning as more normal investing patterns returned.
So what
Spirit lost $2.48 per share in the first quarter on revenue of $461.3 million, topping analyst consensus estimates for a $2.54-per-share loss on $459 million in sales. We knew going in it would be a rough quarter, but Spirit's quarter looked pretty good relative to others who have reported.