JetBlue Airways Corporation (NASDAQ: JBLU) and Spirit Airlines, Inc. (NYSE: SAVE) have jointly filed a notice of appeal to the U.S. Court of Appeals for the First Circuit, in line with the requirements of the merger agreement. This move comes as the company's shares have experienced a significant 19.5% shift, now trading at a price of $7.98.
"JetBlue is New York's hometown airline, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan. JetBlue carries customers to more than 100 destinations throughout the United States, Latin America, the Caribbean, Canada, and Europe," said a company representative.
The full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $3,323 | $3,831 | $1,810 | $3,231 | $5,068 | $5,432 |
| Revenue Growth | n/a | 15.27% | -52.75% | 78.49% | 56.88% | 7.17% |
| Operating Margins | 11% | 13% | -28% | -2% | -12% | -11% |
| Net Margins | 5% | 9% | -24% | -15% | -11% | -10% |
| Net Income (MM) | $156 | $335 | -$429 | -$473 | -$554 | -$534 |
| Net Interest Expense (MM) | $84 | $101 | $135 | $156 | $140 | $170 |
| Depreciation & Amort. (MM) | $177 | $225 | $279 | $297 | $313 | $324 |
| Earnings Per Share | $2.28 | $4.89 | -$5.06 | -$45.01 | -$5.1 | -$4.91 |
| EPS Growth | n/a | 114.47% | -203.48% | -789.53% | 88.67% | 3.73% |
| Diluted Shares (MM) | 68 | 69 | 85 | 10 | 109 | 109 |
| Free Cash Flow (MM) | -$101 | $359 | -$229 | $208 | -$89 | -$121 |
| Capital Expenditures (MM) | $607 | $192 | $4 | $1 | $0 | $0 |
| Current Ratio | 1.61 | 1.25 | 1.76 | 1.44 | 1.25 | 0.91 |
| Total Debt (MM) | $4,050 | $3,921 | $6,133 | $5,952 | $6,401 | $3,043 |
Spirit Airlines suffers from consistently negative margins with a negative growth trend, declining EPS growth, and The firm's free cash flows have a decent average of $4.53 Million over the last 6 years. The compounded average growth rate over this period is -20.1%, with a year-on-year growth variability coefficient of 515.24%.. The firm's financial statements also exhibit not enough current assets to cover current liabilities and Spirit Airlines 's Long Term Debt / Equity ratio of 2.31 suggests that it has high debt levels.. On the other hand, the company has growing revenues and decreasing reinvestment in the business working in its favor.
