Spirit Airlines Announces $100 Million Share Buyback Authorization
December 17 2014 - 8:00AM
Spirit Airlines (Nasdaq:SAVE) announced today that its Board of
Directors had authorized the repurchase of up to $100 million in
aggregate value of shares of its Common Stock, par value $0.0001
per share, from time to time in open market or privately negotiated
transactions over the twelve months ending December 16, 2015. The
timing and amount of any stock repurchases will be subject to
prevailing market conditions and other considerations.
About Spirit Airlines:
Spirit Airlines (Nasdaq:SAVE) is committed to offering the
lowest total price to the places we fly, on average much lower than
other airlines. Our customers start with an unbundled,
stripped-down Bare Fare™ and get Frill Control™ which allows
customers to pay only for the options they choose - like bags, seat
assignments and refreshments - the things other airlines bake right
into their ticket prices. We help people save money and travel more
often, create new jobs and stimulate business growth in the
communities we serve. With our modern and fuel-efficient all-Airbus
fleet, we operate more than 300 daily flights to 57 destinations in
the U.S., Latin America and the Caribbean. Come save with us at
www.spirit.com.
Forward-Looking Statements
Statements in this release and certain oral statements made from
time to time by representatives of the Company contain various
forward-looking statements within the meaning Section 21E of the
Securities Exchange Act of 1934, as amended, which represent the
Company's expectations or beliefs concerning future
events. When used in this release, the words "expects,"
"estimates," "plans," "anticipates," "indicates," "believes,"
"forecast," "guidance," "outlook," "may," "will," "should,"
"seeks," "targets" and similar expressions are intended to identify
forward-looking statements. Similarly, statements that
describe the Company's objectives, plans or goals, actions the
Company may take in the future, or statements regarding the share
repurchase program, are forward-looking statements. All
forward-looking statements in this release are based upon
information available to the Company on the date of this
release. The Company has no intent, nor undertakes any
obligation, to publicly update or revise any of these projections,
whether as a result of new information, future events or otherwise,
except as required by law. Forward-looking statements are
subject to a number of factors that could cause the Company's
actual results to differ materially from the Company's
expectations, including capital markets conditions; the competitive
environment in the airline industry; the Company's ability to keep
costs low; changes in fuel costs; the impact of worldwide economic
conditions on customer travel behavior; the Company's ability to
generate non-ticket revenues; and government
regulation. Additional information concerning these and other
factors is contained in the Company's Securities and Exchange
Commission filings, including but not limited to the Company's
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
CONTACT: Investor Relations Contact:
DeAnne Gabel
InvestorRelations@Spirit.com
(954) 447-7920
Media Contact:
Paul Berry
Paul.Berry@Spirit.com
(954) 628-4827
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