Spirit Airlines announced Thursday that it will implement significant layoffs, scale back operations, and sell 23 Airbus jets as part of efforts to cut costs and return to profitability.
The airline, which has struggled following the failed merger with JetBlue earlier this year, aims to reduce expenses by $80 million starting in 2024, Market Watch reported.
The layoffs are expected to align with reduced flight capacity, reflecting the airline’s scaled-back operations. Spirit has faced mounting financial challenges, including competition from larger carriers offering discounted fares and issues with Pratt & Whitney engines, contributing to ongoing losses.
Despite the cutbacks, Spirit’s stock saw a 10.3% after-hours increase following the announcement. The airline stated that it is actively renegotiating terms with debt holders, working toward better financial stability while exploring premium travel offerings to diversify its services.
As part of its restructuring, Spirit entered a deal with GA Telesis to sell 23 Airbus A320ceo and A321ceo aircraft, raising approximately $519 million. The sale is expected to improve liquidity by $225 million by the end of 2025. Spirit also confirmed the retirement of its remaining A319ceo planes and plans to reduce fleet capacity by 20% in the fourth quarter, with further declines expected next year. […]
— Read More: dallasexpress.com
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
