Last week Spirit posted revised Q3 guidance saying that their yields are better than anticipated and their cash burn will be at the lower end of the 3-4mil a day estimate that was estimated previously


“Based on management’s current expectations and assumptions developed from current trends and information available at this time, Spirit estimates its third quarter 2020 operating revenue will be slightly better than the Company’s initial guidance due to management’s expectations of higher operating yields.

Management also estimates that total operating expenses for the third quarter 2020, excluding special items, will improve as compared to the Company’s previous guidance. This expected improvement is based upon an expectation of lower labor expense as a result of more team members participating in voluntary time off programs, lower than expected maintenance expense driven by an expectation of fewer maintenance events, and other cost management initiatives.

As of the date hereof, the Company currently expects its average daily cash burn1 for the third quarter 2020 will come in at the lower end of the Company’s guidance range given in late July of $3 to $4 million.”

So this seems good to me. They are participating in an industry conference call today and hopefully will add more color