TheStreet’s Jim Cramer says Spirit Airlines CEO Ben Baldanza has proven the Spirit model is a workable model. Offering the lowest cost, adding more routes and getting more planes are giving the other guys a run for their money, he says. Cramer further explains that while all the other airlines have a very big high fare umbrella, Baldanza is making money off of fees with his fee-based model. A downgrade in December caused the stock to fall to $68 from $84 but now it’s back up to $80, largely due to the fact that airlines are the biggest beneficiaries of lower oil prices. Cramer thinks the stock can go even higher.
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