Benzinga | Oct 1, 2021 01:11PM EDT

Why Spirit Airlines Shares Are Rising

Shares of airline companies, including Spirit Airlines Incorporated (NYSE:SAVE) are trading higher after data showed Merck's oral antiviral molnupiravir reduced risk of hospitalization or death in COVID-19 patients, which has helped alleviate some Delta variant concerns. Concerns over the COVID-19 Delta variant have weighed on travel outlook in recent months.

Spirit Airlines shares are trading higher by 8.5% over the past month, potentially amid reopening optimism.

Spirit Airlines serves the United States, Latin America and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge.

Spirit Airlines has a 52-week high of $40.77 and a 52-week low of $15.45.