Spirit Airlines Holding On To Strong Gain After Early Rally

(RTTNews) - After moving sharply higher early in the session, shares of Spirit Airlines, Inc. (SAVE) have pulled back off their best levels of the day but remain firmly positive in afternoon trading on Tuesday. Spirit Airlines is currently up by 16 percent after reaching its best intraday level in over three years.

The early rally by Spirit Airlines came after the discount airline raised its forecast for total revenue per available seat mile growth in the fourth quarter.

Spirit Airlines said total revenue per available seat mile for the fourth quarter is estimated to be up approximately 11 percent year over year compared to its initial estimate of up about 6 percent year over year.