Spirit Mergers and Acquisitions Presentation Deck
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Airline Stocks Remain Well Below Pre-Pandemic Levels...
(JETS Index)
Jan-20
The Airline Industry Recovery Is Taking Off: A Cash
Sale Precludes You from Riding the Upside
May-20
Airline Stocks Have 68% Upside to Pre-Pandemic Levels
Линири
Sep-20
Mopen
Jan-21 May-21 Sep-21
тури
Jan-22
May-22
...With Earnings Recovery in Early Innings
(Airline Industry Net Income / 2019A Net Income (1)(2))
We are here...
100%
2019A I
Source: Capital IQ, Company Filings.
1. Market data as of May 20, 2022. Airline industry net income estimated based on AAL, ALGT, ALK, DAL, JBLU, LUV, SAVE, UAL, ULCC net income.
2. Historical non-GAAP net income as reported in Company Filings. Forecasted net income based on Wall Street estimates.
(106%)
2021A
19%
83%
...recovery to
pre-pandemic
levels continues
here...
2022E
2023E
107%
...and expect to
exceed pre-
pandemic levels
here
2024E
JetBlue's Misleading Math
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