Here's Why Shares in United Airlines Took Off Today

Shares in United Airlines (NASDAQ: UAL) had soared by 9.4% as of 1 p.m. ET today. It may seem odd that shares in network carriers like United are soaring after another airline, Spirit Airlines, released an SEC filing warning that it has doubts about being able to stay in business, but that's probably the reason for the surge in United and others like Delta and American Airlines.Digging into the SEC filing, Spirit's management said "minimum liquidity covenants in the Company's debt obligations and credit card processing agreement require financial results to improve at a rate faster than what the Company is currently anticipating." This is a very worrying development and speaks to the distinct possibility of Spirit not surviving.That might be good news for United as it would reduce capacity in the domestic marketplace.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool