Spirit Airlines

Jet fuel costs have retreated, but airfares remain high because strong travel demand, reduced industry capacity after Spirit Airlines' exit, and the "rockets and feathers" effect keep prices from falling quickly. Airlines have little incentive to cut fares while demand is robust and some routes lost low-cost competition. Average ticket prices rose sharply year-over-year and passenger trips have not declined, limiting near-term downward pressure on fares. » More on cbsnews.com

Spirit's exit from the US domestic market has increased market concentration and reduced competitive pressure, giving airlines additional pricing power. Analysts estimate the industry's annual revenue potential at $1.4 billion to $2.3 billion, depending on demand and fares. Delta, Southwest and United are each likely to gain about $300 million, American around $220 million, while Frontier will benefit less because it focuses on low-cost markets. » More on de.investing.com

Specialist firms led by Nomadic Aviation Group organized ferry flights to move at least 23 Spirit Airlines Airbus jets from U.S. airports to storage sites in Arizona after the carrier shut down on May 2. Lessors are reclaiming leased aircraft as part of Spirit's liquidation in bankruptcy, with planes to be re-leased, sold or parted out; engines and other components are expected to be in demand. The desert storage preserves aircraft while the bankruptcy process determines the disposition of Spirit's remaining fleet of mostly A320 family jets. » More on cnbc.com