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Spirit Airlines is currently in its second bankruptcy proceeding in approximately one year.
Spirit Airlines' plan to shrink its fleet to 75-80 planes and operate only profitable routes is no longer viable due to soaring jet fuel prices.
The Biden administration blocked the acquisition of Spirit Airlines by JetBlue in 2024.
Jet fuel prices more than doubled in March.
KeyCorp reported its highest-ever first-quarter investment banking revenue.
The risk of deposit flight and unrealized losses that caused the 2023 regional banking crisis is now considered to be over.
Madison Air raised over $2.2 billion in its IPO, making it the largest U.S. industrial IPO since 1999.
In its first-quarter earnings report, PepsiCo's international business was particularly strong.
PepsiCo's first-quarter results demonstrated a better balance between sales volume and pricing.
PepsiCo recently reduced prices across most of its snack product lines.
The combined Frito-Lay North America and Quaker businesses posted a 1% volume gain in the first quarter.
Activist investor Elliott Investment built a stake in PepsiCo in 2023 and has been pushing the company to improve margins, particularly in its food division.