Wed, Apr 30, 9:07 PM (12 days ago)
**Summary of Spirit Aviation Holdings, Inc. (SAVE) 10-K/A** **Financial Performance (2024):** - **Revenue:** $5.5 billion - **Net Income:** -$1.2 billion - **Operating Expenses:** $6.7 billion - **Earnings per Share:** -$0.77 - **Cash Flow from Operations:** -$1.1 billion **Strategic Overview:** - **Restructuring:** Emerged from Chapter 11 bankruptcy on March 12, 2025. - **Leadership Changes:** David Davis appointed as President and CEO; Fred Cromer as CFO. - **Fleet:** Operates Airbus A320neo aircraft with Pratt & Whitney PW1100G-JM engines. - **Market Position:** Focuses on ultra-low-cost carrier model, serving various U.S. markets. **Future Outlook:** - **Growth Strategy:** Plans to expand fleet and routes, improve operational efficiency. - **Financial Goals:** Aim to achieve profitability and positive cash flow. - **Risk Factors:** Dependence on fuel prices, economic conditions, competitive pressures. **Financial Condition:** - **Liquidity:** $400 million in cash and cash equivalents. - **Debt:** $4.5 billion in long-term debt. - **Capital Expenditures:** $500 million planned for 2025. **Market Position Changes:** - **Competitive Landscape:** Faces competition from major airlines and low-cost carriers. - **Customer Base:** Serves price-sensitive leisure and business travelers. - **Brand:** Known for affordable fares and no-frills service. **Amendment Details:** - **Changes Made:** Revisions to executive compensation, financial statements, and risk factors. - **Impact:** Provides updated information on the company's financial condition and strategic direction post-bankruptcy. - **Reasons:** To reflect the company's emergence from Chapter 11 and provide accurate financial data.