Spirit Mergers and Acquisitions Presentation Deck slide image

Spirit Mergers and Acquisitions Presentation Deck

》》》 An All-Cash Acquisition Would Strand Shareholders on the Tarmac as the Recovery Takes Off Airline share prices have 68% upside to pre-pandemic levels, and net income remains at just 19% of 2019A levels; only a stock-for-stock transaction allows shareholders to participate in the recovery Airline Stocks Remain Well Below Pre-Pandemic Levels... (JETS Index) Airline Stocks Have 68% Upside to Pre-Pandemic Levels besterensten myy par ...With Earnings Recovery in Early Innings (Airline Industry Net Income / 2019A Net Income (¹)(2)) We are here... 100% Sep-20 Jan-21 May-21 Sep-21 Jan-22 May-22 Jan-20 May-20 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. 2019A (106%) 2021A 19% 83% ...recovery to pre-pandemic levels continues here... 2022E 2023E 107% ...and expect to exceed pre- pandemic levels here 2024E 3
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