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Spirit Airlines (NYSE:SAVE) has seen stock volatility due to a significant aircraft sale and financial updates. The sale of 23 aircraft for $519 million aims to boost liquidity by $225 million. Despite operational challenges, Spirit anticipates improved margins and cost reductions. However, potential bankruptcy options are being explored due to financial pressures.

Portfolio Pulse from Henry Khederian

October 30, 2024 | 3:42 pm

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U.S. Treasury Secretary Yellen acknowledges the heavy regulatory compliance burdens on banks and emphasizes the importance of robust capital and liquidity requirements. She hopes for tailored regulations to ease smaller banks' burdens.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 7:04 pm

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Ollie's Bargain Outlet has successfully bid to acquire eight former Big Lots store leases in a bankruptcy auction. This acquisition is part of a larger closure of 170 Big Lots stores and is subject to court approval.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 11:33 am

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The DOJ and DOT have launched a public inquiry into airline competition, focusing on mergers, pricing, and rewards practices. This follows the DOJ's recent blocking of the JetBlue-Spirit merger. Spirit Airlines is in financial trouble and may merge with Frontier. The inquiry could impact major airlines and related companies.

Portfolio Pulse from Erica Kollmann

October 26, 2024 | 3:30 pm

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Vicinity Motor Corp. announced the resignation of its entire Board of Directors following a Receivership granted to the Royal Bank of Canada by the Superior Court of British Columbia. This change of control also led to the resignation of the CFO.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 8:35 pm

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Exxon Mobil's Golden Pass LNG plant received a three-year extension due to contractor bankruptcy, potentially boosting U.S. LNG supply. Exxon Mobil's stock is currently above its 200-day moving average, indicating a bullish trend.

Portfolio Pulse from Lekha Gupta

October 25, 2024 | 6:45 pm

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Lilium NV (NASDAQ:LILM) shares plummeted by 38% to 13 cents after announcing insolvency proceedings for its German subsidiaries due to a failed government-backed loan. The company aims to restructure under court supervision while continuing operations.

Portfolio Pulse from Henry Khederian

October 25, 2024 | 5:23 pm

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Lilium's shares are declining as the company announced that its main German subsidiaries will apply for self-administration proceedings in a German court due to insolvency.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 2:33 pm

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Spirit Airlines shares rose on Friday after announcing a $519 million aircraft sale to GA Telesis. The sale is expected to enhance liquidity by $225 million by 2025. Spirit also provided a positive update on its Q3 2024 operating margin and cost reduction plans. Despite recent financial challenges, including a blocked JetBlue acquisition and potential bankruptcy considerations, Spirit aims to end 2024 with over $1 billion in liquidity.

Portfolio Pulse from Nabaparna Bhattacharya

October 25, 2024 | 1:33 pm

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Lilium's principal German subsidiaries are set to apply for self-administration proceedings due to insolvency issues. This move follows a failed loan approval process with KfW in the German parliament.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 9:03 pm