Spirit Airlines $SAVE stock is oversold as of March 5, 2023. The stock trades with a Forward P/E of 10 and smoking hot P/S ratio of 0.38. The market appears to be undervaluing Spirit Airlines $SAVE stock at a price of $17.93 on March 5, 2023.
Spirit Airlines Announces New San José Service
On February 16, 2023, Spirit Airlines announced the launch of new, nonstop service from San José Mineta International Airport (SJC). The carrier is kicking off the new service with two daily flights to Las Vegas (LAS) and daily flights to Dallas (DFW) and San Diego (SAN).
“We’re excited to provide More Go and boost competition with the introduction of our ultra-low fares & Spirit’s Signature Service in the heart of Silicon Valley,” said John Kirby, Vice President of Network Planning at Spirit Airlines. “With our new affordable, nonstop flights to popular destinations, we make vacationing and connecting with loved ones easier than ever.”
“Today’s announcement is a step forward for our Airport, our City, and for air travel in our region,” said John Aitken, San José Mineta International Airport Director of Aviation. “This new partnership reflects a return to leisure travel and demonstrates how aviation markets are shifting to expand toward new opportunities and approaches. We couldn’t be more pleased to welcome the Spirit Airlines team to San José, and to offer their unique and innovative brand at SJC.”
The new service marks the seventh airport Spirit serves in the Golden State, joining Burbank (BUR), Los Angeles (LAX), Oakland (OAK), Orange County (SNA), Sacramento (SMF) and San Diego (SAN). Spirit first launched California service in Los Angeles in 2000 and has grown to more than 55 daily departures to 23 out-of-state destinations. In the past three years, the carrier has grown the number of flights by 41 percent and seats by 46 percent statewide.
Guests traveling on these new routes can enjoy introductory fares for a limited time, with travel date restrictions. Fares include:
Dallas (DFW)/ San José (SJC): starting at $89* one-way
Las Vegas (LAS)/ San José (SJC): starting at $39* one-way
San Diego (SAN)/ San José (SJC): starting at $59* one-way
*All fares will be valid from 6/7/2023 – 8/2/2023 with a 14-day advanced purchase, subject to availability, no blackout dates.
Spirit Airlines announces five new, nonstop routes from San Juan
On February 15, 2023, Spirit Airlines announced the launch of five new, nonstop routes from Luis Munoz Marin International Airport. The expansion adds convenient and affordable flights to Atlanta, Chicago, Dallas, Detroit and Hartford, growing Spirit’s Puerto Rico service from 11 destinations to 16 by June 2023. The carrier also announced it will increase flights between San Juan and Orlando to five flights daily and grow flights between San Juan and Baltimore, Fort Lauderdale and Newark to two flights daily.