All articles tagged with #revenue shortfall
United Airlines expects higher-than-expected Q4 earnings despite a revenue shortfall in Q3, driven by capacity expansion and loyalty program growth, amid a challenging airline industry environment.
Spirit Airlines forecasts a wider-than-expected quarterly loss due to lower-than-anticipated revenue, with an adjusted loss between $160 million and $173 million and sales of $1.28 billion. Shares fell 6% in extended trading. The airline is facing challenges including an oversupplied domestic market, an engine recall, and a blocked acquisition by JetBlue Airways.
Massachusetts Governor Maura Healey is set to announce emergency budget cuts totaling around $375 million due to six months of lower-than-projected revenues, with $769 million less than the year-to-date benchmark as of December 2023. The cuts, authorized under Section 9C of the state constitution, are expected to target locally earmarked funds, potentially resulting in 50% cuts to community programs and needs. The Governor's office has yet to comment on the matter.
Minnesota is at risk of facing a budget shortfall due to a revenue shortfall caused by the COVID-19 pandemic. The state's fiscal deficit is expected to reach $4.7 billion by 2023, leading to potential cuts in public services and increased taxes to address the shortfall.