Spirit Airlines sales to take $25 million hit from Hurricane Dorian

Business

FILE PHOTO: A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. REUTERS/Regis Duvignau/File Photo

(Reuters) – Spirit Airlines (SAVE.N) on Friday cut its third-quarter outlook for a key revenue measure as it estimates an about $25 million hit on its sales, hurt by hundreds of flights cancellations due to Hurricane Dorian.

The company now expects third quarter unit revenue to fall between 2.5% and 3.5% compared to its prior estimate of a decline of 1% to 2%.

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The hurricane has led airline operators including American Airlines (AAL.O) and Delta Air Lines (DAL.N) to cancel thousands of flights across the United States this week.

Dorian, which briefly made a landfall on the Outer Banks of North Carolina on Friday, is expected to bring tropical storm winds to Nantucket Island and Martha’s Vineyard, Massachusetts early on Saturday here

JustForex

Reporting by Arundhati Sarkar in Bengaluru; Editing by Shailesh Kuber

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