Spirit Airlines (SAVE) to Strengthen its Base in Florida
In a bid to expand further, Spirit Airlines, Inc. SAVE has decided to operate nonstop flights connecting Jacksonville International Airport (“JAX”) to Chicago O’Hare International Airport (“ORD”) and Detroit Metro Airport (“DTW”). The new flights will start operating from Dec 20, 2018. Once operational, Jacksonville will become the 69th destination for this Miramar, FL-based ultra low-cost carrier.
Backed by this new service, Spirit Airlines aims to strengthen footprint in its home state. The carrier already serves Florida destinations such as Orlando, Fort Lauderdale, Fort Myers, Tampa and West Palm Beach. While Spirit Airlines has decided to offer direct flights from Jacksonville, another carrier — Silver Airways — will reportedly end services to the same destination on Nov 4, 2018.
Spirit Airlines expects its decision of adding flights connecting Jacksonville to Chicago and Detroit to benefit the company, augmenting its top line. In fact, Spirit Airlines is constantly looking to broaden its network. To achieve its objective, the carrier recently announced its decision to operate nonstop flights connecting Cali with Fort Lauderdale. While flights from Fort Lauderdale to Cali will take to the skies from Dec 20, 2018, the return flight will start operations a day later.
In the event of the plan receiving government approval, Cali will be the fifth destination in Colombia to be served by Spirit Airlines. In the same vein, the company announced its decision to launch routes from Orlando to Latin America and the Caribbean, earlier this year.
Spirit Airlines, Inc. Price
Spirit Airlines, Inc. Price | Spirit Airlines, Inc. Quote
Zacks Rank & Key Picks
Spirit Airlines carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. SKYW, Trinity Industries, Inc. TRN and Old Dominion Freight Line, Inc. ODFL. While SkyWest and Trinity sport a Zacks Rank #1 (Strong Buy), Old Dominion carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest, Trinity and Old Dominion have rallied more than 40%, 21% and 54%, respectively, in a year’s time.
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