Spirit Airlines To Pay $8.25M In 'Gotcha' Bag Fee Class Action: Report
Portfolio Pulse from Akanksha Bakshi
Spirit Airlines Inc (NYSE:SAVE) will reportedly pay up to $8.25 million to settle a lawsuit over unexpected carry-on bag fees. The lawsuit claimed Spirit advertised low prices on travel sites while hiding substantial airport bag fees. The eligible group covers first-time Spirit fliers who used booking platforms between August 2011 and May 2017. SAVE shares are trading higher by 0.64% at $15.71.
August 25, 2023 | 1:42 pm
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Spirit Airlines is to pay up to $8.25 million to settle a lawsuit over unexpected carry-on bag fees. This news may have a short-term impact on the company's stock.
The lawsuit settlement could potentially impact Spirit Airlines' financials, which may lead to a negative sentiment among investors, potentially driving the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100