Buying Spirit Airlines Stock Right Now Is a Risky Gamble. Here's How It Could Pay Off
Airline shares fell with the passenger counts, as investors began to fear bankruptcies were inevitable. Warren Buffett's outlook for the industry was so grim that he decided to sell large stakes in the four biggest airlines at a loss. If Buffett gave up on industry stalwarts like Southwest Airlines, it's no wonder investors all but gave up on smaller, second-tier carriers like Spirit Airlines (NYSE: SAVE).