The US Disc Counter Spirit Airlines are approved by the New York Stock Exchange (NYSE) because they were relisted a few months after filing bankruptcy protections and being removed from the exchange.
Spirit stocks will begin trading under the ticker symbol on April 29th, under the ticker symbol, not the previous save symbol.
Newly installed CEO Dave Davis on April 24 called the NYSE list “an important next step in the ongoing transformation of the spirit.”
The exchange was determined in November that Spirit's stocks were “no longer suitable for listings.” This is a decision the company did not appeal.
Spirit then began trading on the OTC Pink Market. He described this as a “more restricted market” than the NYSE at the time.
Florida-based Ultra Low Cost Carrier (ULCC) is attempting a remake after it emerged from Chapter 11 bankruptcy proceedings last month. Davis, who recently worked as Chief Financial Officer at Minnesota-based Disc Counter Sun Country Airlines, says the spirit is focused on returning to profitability.
Davis took on the position of Spirit's CEO earlier this month after longtime CEO Ted Christie left.
Spirit is one of several ULCCs that are trying to stop the big losses of years and tackle towards high-paying clients with new bundles of fares and premium offers.
ULCC is reorganizing its network with a greater focus on medium-sized markets, such as Savannah, Georgia. Popular holiday destinations and major US metros – traditional markets of spirits – have been oversaturated with low-cost airline seating in recent months.
Perhaps US airlines that make spirit rebounds more challenging, have reported weaker demand for seating at domestic airlines later that year.
