Spirit Buoys Connectivity With Additional Puerto Rico Flights

In a bid to meet the surge in air-travel demand during the holiday season, Spirit Airlines has (NYSE:SAVE) introduced daily non-stop flights connecting Puerto Rico, San Juan's Luis Muñoz Marín International airport Boston Logan International airport and Newark Liberty International airport.

Moreover, the carrier will launch a second non-stop connecting Newark and the Puerto Rican capital from Feb 1, 2020. As part of the expansion plan, Sprit Airlines also intends to start operating flights connecting San Juan and three other U.S. destinations next year.

Specifically, flights connecting the Orlando and San Juan will take to the skies from Feb 21, 2020. Similarly, flights on the San Juan- Philadelphia and San Juan- Baltimore start from Mar 1 and May 21, respectively. Notably, Spirit Airlines already operates multiple flights to Puerto Rico.

Spirit Airlines’ decision to expand its presence in San Juan seems prudent, as the city is one of the most attractive tourist spots. The carrier is being aided by robust passenger revenues on the back of strong demand for air travel. Passenger revenues, accounting for bulk of the top line, increased 26.7% in 2018. Continuing with this trend, the same increased 16.3% year over year in the first nine months of 2019. The additional flight package to and from San Juan is likely to bump up the carrier’s passenger revenues further.

Zacks Rank & Key Picks

Spirit Airlines carries a Zacks Rank #3 (Hold), at present. Some better-ranked airline stocks are Allegiant Travel Company (NASDAQ:ALGT) , Ryanair Holdings (RYAAY) and Deutsche Lufthansa (DE:LHAG) Aktiengesellschaft (OTC:DLAKY) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Allegiant, Ryanair and Deutsche Lufthansa have rallied more than 31%, 41% and 10%, respectively, over the past six months.

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