Spirit (SAVE) Launches International Service From Austin

Spirit Airlines, Inc. (NYSE:SAVE) launched a four times weekly service from Austin, TX to Cancun, Mexico. This marks the carrier’s first ever international service from Austin-Bergstrom International Airport. The flights are available on alternate days between Mondays and Saturdays.

The carrier plans to solidify its foothold further in Austin with daily services connecting Austin with Nashville, TN and Newark, NJ, set to begin on Mar 26, 2020.

The airline began operations in Austin a year ago and will offer up to 14 daily departures to 13 cities already following the launch of the new services.

Apart from the Cancun service, Spirit currently offers flights to Atlanta, Baltimore, Chicago, Denver, Detroit, Fort Lauderdale, Las Vegas, Los Angeles, New Orleans and Orlando from Austin.

As far as the carrier’s international expansion initiatives are concerned, in January, it announced the decision to start operating flights to two Colombian cities, namely Bucaramanga and Barranquilla from April 2020 onward. Non-stop flights connecting Fort Lauderdale with Bucaramanga will take to the skies on Apr 22, 2020 and operate thrice a week (Monday, Wednesday and Friday). Flights connecting Fort Lauderdale and Barranquilla will be initiated a day later, flying on Tuesdays, Thursdays and Sundays. (Read more: Spirit to Expand by Adding New Flights to Colombia)

Zacks Rank & Other Key Picks

Spirit carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the same space are Azul S.A. (NYSE:AZUL) , Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS) and Delta Air Lines, Inc. (NYSE:DAL) . While Azul and Controladora Vuela sport a Zacks Rank #1 (Strong Buy), Delta carries the same Zacks Rank as Spirit. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Azul and Controladora Vuela have rallied more than 7% and 44%, respectively, in a year’s time. Meanwhile, Delta has an impressive earnings history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average being 8.2%.

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