A Spirit Airlines plane sits parked at Hollywood Burbank Airport on April 16, 2026 in Burbank, California.
Justin Sullivan | Getty Images
Spirit Airlines struggled for years, battered by larger, cash-rich airlines that copied its business model, failed mergers, higher costs and, most recently, a surge in jet fuel prices because of the war in Iran. It then faced the most unforgiving foe: time.
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“We just kind of ran out of runway,” CEO Dave Davis said in an interview with CNBC on Monday.
Spirit had hoped to exit bankruptcy, its second in less than a year, in mid-2026. Four days before the U.S. and Israel attacked Iran, a conflict that has sent fuel prices skyrocketing, Davis said he and his team were optimistic that the exit strategy could still work. But that was contingent on fuel prices moderating in April.
They didn’t.
“Late March, early April, it became clear that it was going to be tough for us to get through,” Davis said, noting that crude oil prices were above $100 a barrel.
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Time’s up
Other airlines leave printed instructions for travelers affected by the Spirit Airlines shut down at LaGuardia Airport’s Marine Air Terminal in New York on May 2, 2026.
Leslie Josephs/CNBC
To try to save the company from collapsing, Davis and others inside Spirit talked to the Trump administration about a bailout.
“We got connected with some various folks in government, including [Commerce] Secretary [Howard] Lutnick, through some contacts,” he said. “These guys … particularly Commerce, very eager to help.”
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The Trump administration had been working on an offer for a $500 million loan to keep the airline afloat in a plan that could have given the U.S. government an up to 90% stake in the carrier. Bondholders weren’t on board and floated a counter proposal.
“Our bondholders also worked very hard to try to get something done,” Davis said.
The two sides were far apart on deal terms and it was clear by Thursday that it wasn’t going to work.
“I think we just ran out of time,” he said.
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Spirit said some 17,000 people, both direct and indirect airline workers, lost their jobs in the airline’s collapse. Other carriers, smelling blood, had been circling for nearly a year if not longer, and within hours of the airline’s collapse were scrambling to both fly ticketed Spirit customers and add to their schedules in the absence left by Spirit’s yellow planes.
What’s next?
A Spirit Airlines poster on a LaGuardia Airport shuttle bus the day it shut down.
Leslie Josephs/CNBC
Spirit hired longtime airline executive Davis, most recently CFO at Sun Country, a year ago, about a month after the company zipped out of its first bankruptcy. Critics said it avoided bigger changes in that first bankruptcy, like shedding more assets to get costs down.
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Last August, the airline filed for Chapter 11 bankruptcy protection again, facing many of the same problems, though it had slashed flights, gotten rid of some of its Airbus jets and furloughed crew members to save cash.
Davis previously worked at Northwest Airlines, which combined with Delta Air Lines in 2008, and also worked at US Airways, which merged with American Airlines in 2013. Along with United Airlines and Southwest Airlines, the four airlines control about 80% of U.S. capacity, after a major wave of consolidation.
More consolidation is likely and “what the lower end of the industry needs,” Davis predicted. He said if Spirit’s planned acquisition by JetBlue Airways wasn’t blocked by a judge two years ago “I believe that we wouldn’t be in the situation we are right now.”
Read more about Spirit Airlines’ recent challenges
Low-fare airlines for a time were a headache for big legacy carriers, since they swooped into markets and offered eye-catching fares.
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“There was no better exemplar of that than Spirit,” Davis said.
But then the big airlines started to copy some of the budget model, offering no-frills basic economy tickets and other add-on fees. That hurt carriers like Spirit, which was profitable in the 2010s but hadn’t turned a profit since 2019.
“Everybody saw the low-cost airlines just taking massive share,” he said. “The shoe was completely on the other foot then, then where it is today.”
He said another benefit the larger airlines have is their huge credit card programs, in which they earn money from banks when customers swipe their credit cards, a business that gives them a bigger cash cushion to weather shocks like high fuel prices.
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Davis said in Spirit’s final days he was between Washington, D.C., and the company headquarters in Dania Beach, Florida, trying to get to a deal. Some staff members, including pilots, didn’t get final word about the airline’s last flights until they were getting close to landing Friday night or early Saturday.
“You can’t announce ahead of time that you’re going to shut down,” he said. “What happens is vendors stop working. Fuelers stop fueling. Some crew members probably don’t come in. So then you’ve got airplanes and people and passengers scattered all over the place in foreign countries. It needs to be done in a very orderly way, and it needs to be done all at once.”
Davis said he is staying on at Spirit to oversee the airline’s closure. Leased planes will go back to lessors. Owned ones will get sold. Gates will be overseen by airports and likely used by other airlines. About 130 other employees are set to stay on for that work as well.
When asked if he would stay in the industry, Davis said: “I just love airplanes, and I like the industry, so I’ll probably never leave it, although sometimes it’s very trying and taxing on a person.”
Labour’s Helen Godwin, the head of the West of England Combined Authority, is marking 12 months in office
West of England Metro Mayor Helen Godwin in front of Concorde(Image: Local Democracy Reporting Service / John Wimperis)
An overnight tourist tax across the Bristol and Bath region, better links with North Somerset and improved public transport connections in the South West are among the top priorities for the West of England’s mayor, she has announced.
Labour’s Helen Godwin has marked her first year as head of the West of England Combined Authority (Weca) by setting out plans for the future.
Ms Godwin was elected as metro mayor, covering Bath and North East Somerset, Bristol and South Gloucestershire, last May after securing 25.0% of the vote. In the role, she has the power to make decisions on areas such as jobs, transport, the environment, planning and business support.
On Tuesday (May 5), Ms Godwin welcomed news of the Devolution Action becoming law as a “huge step forward” and said the move would “empower” the West.
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“Our ambitions match the West of England’s potential as we look to do more, faster,” she said.
Ms Godwin, who is pushing for a potential light rail link to Bristol Airport, said there would be more ‘green’ buses rolled out across the region and plans for a “mass transit” system would be developed, alongside the new train stations at Bristol Brabazon and Charfield.
“In the coming weeks, we will be banging the drum for the country’s fastest-growing regional economy at a major investment conference in Leeds,” she said.
“Bristol Temple Quarter and the Brabazon and West Innovation Arc new town are both among the UK’s biggest regeneration opportunities, which we will continue shouting about to help get more homes built, with the right transport links.”
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The mayor also said there was “exciting news to come” for nature in the region.
“There is a lot to look forward to for people across the West of England,” she said.
The one-year milestone comes just days after the landmark English Devolution and Community Empowerment Act received Royal Assent (Wednesday, April 29), meaning more decisions will be taken in the West of England rather than Whitehall.
The new law is set to see the mayor and combined authority secure a raft of additional powers, including in transport, strategic planning, economic development and health.
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“As mayor of my home region, I’m proud of the difference that we’ve made over the last year,” Ms Godwin added.
“Our region’s voice is being heard at last, as we work to make the most of devolution.”
During her first year in office, Ms Godwin said she was “proud” to have secured the green light for reviving the Portishead railway line and said building more links with North Somerset remained “a top priority”.
“We have started to deliver real change that people can see and feel,” she added.
Ezgi Yagci – Vice President of Investor Relations Timothy Herbert – Founder, Chairman, CEO & President Matthew Osberg – Executive VP & CFO
Conference Call Participants
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Lilia-Celine Lozada – JPMorgan Chase & Co, Research Division Jonathan Block – Stifel, Nicolaus & Company, Incorporated, Research Division Adam Maeder – Piper Sandler & Co., Research Division Christopher Pasquale – Nephron Research LLC Anthony Petrone – Mizuho Securities USA LLC, Research Division Travis Steed – BofA Securities, Research Division Larry Biegelsen – Wells Fargo Securities, LLC, Research Division Richard Newitter – Truist Securities, Inc., Research Division Michael Polark – Wolfe Research, LLC Shagun Singh Chadha – RBC Capital Markets, Research Division David Rescott – Robert W. Baird & Co. Incorporated, Research Division Michael Sarcone – Jefferies LLC, Research Division Brett Fishbin – KeyBanc Capital Markets Inc., Research Division Daniel Markowitz – Evercore ISI Institutional Equities, Research Division Michael Kratky – Leerink Partners LLC, Research Division
Presentation
Operator
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Good afternoon. My name is [ Dilem ], and I’ll be your conference operator today. At this time, I’d like to welcome everyone to the Inspire Medical Systems First Quarter 2026 Conference Call. [Operator Instructions] I’ll now hand the conference over to your first speaker, Ezgi Yagci, the Vice President of Investor Relations at Inspire. You may begin the conference.
Ezgi Yagci Vice President of Investor Relations
Thank you, [ Dilem ], and thank you all for participating in today’s call. Joining me are Tim Herbert, Chairman and Chief Executive Officer; and Matt Osberg, Chief Financial Officer. Earlier today, we released financial results for the 3 months ended March 31, 2026. A copy of the press release is available on our website. On this call, management will make forward-looking statements within the meaning of the federal securities laws. All forward-looking statements, including, without limitation, those relating to our operations, financial results and financial condition, investments in our business, full year 2026 financial and operational
NEW YORK — Zoho, the popular cloud-based business software suite, is currently operating normally across its major services as of Monday, May 4, 2026, with no widespread outages reported on official status pages or major monitoring platforms. While some users experienced intermittent issues with specific components like Zoho PhoneBridge and CRM tools in late April, the company’s global infrastructure has stabilized, allowing millions of small and medium-sized businesses to continue relying on its integrated applications for CRM, email, project management and more.
Downdetector and independent status trackers show minimal user reports in the past 24 hours, with the vast majority of services functioning without interruption. Zoho’s official status dashboard confirms no active incidents across its primary data centers in the United States, Europe, Asia and other regions. This comes after a brief period of elevated complaints in late April when a power-related event in one data center caused temporary slowdowns for some EU and US users. Engineering teams resolved the issue quickly, and full service was restored within hours.
Zoho offers more than 55 integrated business applications under its Zoho One platform, serving over 100 million users worldwide. The suite’s popularity stems from its affordable pricing, seamless connectivity between tools and strong focus on privacy and data security. For businesses seeking alternatives to more expensive enterprise software from Microsoft or Salesforce, Zoho has become a go-to option, particularly for small teams and growing companies.
Recent minor disruptions highlighted the platform’s heavy reliance on multiple data centers. During the April incident, users reported slower response times in Zoho CRM, Mail and Tables. Zoho quickly communicated via its status page and social channels, maintaining transparency that customers have come to expect. The company’s proactive monitoring from locations including Seattle, Singapore, London and Australia helps minimize downtime and provides real-time visibility into service health.
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For users checking today, the recommendation is straightforward: services are up and running smoothly. If individual users still encounter issues, common troubleshooting steps include clearing browser cache, trying a different network or device, or checking Zoho’s status page for region-specific updates. Most reported problems in recent days have been isolated and quickly resolved.
Zoho’s resilience during these minor events demonstrates the strength of its distributed architecture. Unlike some competitors that rely on single-cloud providers, Zoho operates its own infrastructure across multiple geographies, reducing single points of failure. This approach has helped the company maintain high uptime percentages even as its user base has grown exponentially.
Businesses dependent on Zoho for daily operations can take comfort in the platform’s track record. While no service is immune to occasional hiccups, Zoho has consistently ranked highly in uptime comparisons and customer satisfaction surveys. The company’s commitment to rapid issue resolution and clear communication during incidents has built significant trust among its customer base.
As remote and hybrid work models continue to dominate, reliable cloud tools like Zoho have become essential infrastructure for modern businesses. The platform’s all-in-one approach reduces the need for multiple subscriptions and simplifies IT management. Features like Zoho CRM’s AI-powered insights, Zoho Mail’s secure collaboration tools and Zoho Projects’ workflow automation help teams stay productive regardless of location.
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For those concerned about potential future disruptions, Zoho offers several best practices. Enabling multi-factor authentication, regularly backing up critical data and familiarizing teams with offline capabilities where available can minimize impact during rare outages. The company also provides detailed documentation and responsive support channels for troubleshooting.
The current stable status should reassure the millions of organizations that rely on Zoho daily. From startups managing customer relationships to established firms handling complex projects, the platform’s reliability supports business continuity even during periods of high demand or minor technical challenges.
Looking ahead, Zoho continues investing in infrastructure improvements and AI enhancements across its suite. Recent updates have focused on better performance, enhanced security features and deeper integration between applications. These ongoing developments aim to make the platform even more robust and valuable for users worldwide.
In summary, as of May 4, 2026, Zoho services are fully operational with no major issues reported. Users experiencing any difficulties should first check the official status page and follow standard troubleshooting steps. The platform’s strong track record and proactive approach to service reliability continue to make it a trusted choice for businesses seeking comprehensive cloud solutions at competitive prices.
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Business owners and IT administrators can monitor Zoho’s status page or subscribe to notifications for real-time updates. With services running normally today, teams can focus on productivity rather than technical concerns. Zoho’s commitment to reliability ensures that most users experience consistent performance, supporting the growing number of organizations that depend on its ecosystem for daily operations.
PHILADELPHIA — Walmart is stripping self-checkout kiosks from more stores and bringing back cashier lanes, joining a growing retail shift that includes Costco’s push for faster, staff-assisted scanning as theft concerns and customer complaints mount nationwide.
Walmart Costco Self-Checkout Overhaul: Why Major Retailers Are Ditching Machines Amid Theft and Shopper Frustration in 2026 IBTimes US
The world’s largest retailer removed all self-checkout machines from its South Philadelphia Supercenter in late April 2026, converting the space to traditional staffed registers. Company officials cited feedback from customers and associates, aiming to deliver a more personalized shopping experience as part of broader remodeling plans for more than 650 stores this year.
“These changes are guided by feedback from associates and customers, local shopping patterns, and the needs of the business in each community,” a Walmart spokesperson told local media. The goal is to “improve the checkout experience and enable associates to provide more personalized customer service.”
The move echoes earlier removals in Shrewsbury, Missouri; Cleveland, Ohio; parts of New Mexico and other high-theft locations. In Shrewsbury, police reported a sharp drop in calls after self-checkouts disappeared — from hundreds in prior periods to far fewer — with arrests nearly halving.
Industry analysts and law enforcement point to retail theft, often dubbed “shrink,” as a primary driver. A December 2025 LendingTree survey of more than 2,000 consumers found 27% of self-checkout users admitted to intentionally skipping scans, up 12 percentage points from 2023. Another 36% said they accidentally left with unscanned items, and most kept them. Overall, 69% agreed the machines make theft easier.
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Higher-income shoppers were more likely to admit deliberate non-scanning, with 40% of those earning six figures or more confessing, according to the survey. Many expressed little remorse.
Walmart, which loses billions annually to theft across its stores, has reviewed self-checkout use in high-shrink locations. Similar trends hit Target, Dollar General and others, with some chains removing or limiting kiosks entirely.
Costco Takes a Different Path
Costco, known for its warehouse model and membership requirements, is not fully eliminating self-checkout but is transforming the experience with technology and staff oversight. The company is rolling out pre-scan systems where employees scan cart items while shoppers wait in line. By the time customers reach the register, items are pre-loaded; they simply scan their membership card and pay.
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Automated pay stations in pilot stores complete transactions in about eight seconds on average, dramatically speeding up lines. CEO comments during earnings calls highlighted strong member feedback and improved traffic flow.
“Early results show this is improving the flow of traffic, and we’ve received great member feedback,” a Costco executive said.
At remaining self-checkout areas, Costco now often requires photo ID matching membership cards, adding a layer of accountability. The retailer is also testing scan-and-go apps and other efficiencies without the full cashier reversion seen at Walmart.
Regulatory Pressure Mounts
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New state laws are accelerating changes. Bills in California, Massachusetts, Ohio, Rhode Island and others propose staffing requirements — such as one employee per set number of kiosks — or item limits at self-checkouts, often capping them at 10-15 items. New York City has considered similar restrictions.
Proponents argue the rules promote fairness for workers and curb theft. Critics, including some retailers, worry about labor costs and slower service. In response, many chains are proactively adjusting rather than waiting for mandates.
Shopper Reactions Mixed
Customer responses vary widely. Some celebrate the return of human cashiers, citing frustration with error-prone machines, long error-resolution waits, and the “do-it-yourself” burden after a full shopping trip.
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“I hate self-checkout. I always have issues with the scanner or weights, and then I wait forever for help anyway,” said one Philadelphia-area shopper who welcomed the change. “Bring back the cashiers.”
Others lament lost convenience, especially for quick trips with few items. “It used to be fast for small baskets. Now lines are longer again,” complained a frequent Walmart visitor on social media.
Social platforms buzz with debates. Viral posts show before-and-after photos of stripped checkout areas, with hashtags like #SelfCheckoutFail and #BringBackCashiers trending in retail communities. Some users admit occasional “honest mistakes” at kiosks, while others decry what they see as eroded trust in shoppers.
Retail experts note self-checkout’s initial promise — faster service, lower labor costs — collided with reality. Technical glitches, theft vulnerabilities and unintended labor shifts (associates still needed for oversight and bagging help) diminished benefits. Adoption soared to over 80% at many chains, but so did losses.
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Broader Retail Trends
Sam’s Club, Walmart’s membership sibling, went further last year by replacing traditional self-checkout with AI-powered scan-and-go entirely in tested formats. Other grocers experiment with hybrid models blending mobile apps, computer vision and limited kiosks.
Dollar General removed self-checkout from thousands of stores in 2024, citing similar theft and operational issues. Target has limited item counts or added more staffed oversight in select locations.
The changes come as inflation-weary consumers demand value and efficiency. Retailers balance technology investment with human touchpoints. Walmart’s 2026 remodels will emphasize improved layouts, potentially including more “hosted checkout” zones where associates guide customers.
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What’s Next for Shoppers
For now, experiences differ by location and chain. Walmart shoppers in affected stores must use cashier lanes, which some say feel nostalgic but risk longer peak-hour waits. Costco members enjoy quicker overall throughput thanks to pre-scans but face stricter verification.
Industry watchers expect more experimentation. AI cameras, better mobile apps and data-driven lane management could blend convenience with control. Yet the pendulum has swung back toward human interaction in 2026, at least partially.
“Self-checkout wasn’t the full solution many hoped,” one retail consultant noted. “Retailers are learning that technology works best when it supports, not replaces, the shopping experience entirely.”
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As summer shopping ramps up, customers at Walmart and Costco will navigate evolving checkouts. Whether the shifts reduce theft, boost satisfaction and maintain speed remains to be seen — but the era of unchecked self-service appears to be cooling.
The Organization of the Petroleum Exporting Countries and their allies have agreed to raise oil production in June by 188,000 barrels a day in their first meeting without former member United Arab Emirates.
Seven countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, agreed to the move at a meeting on Sunday. It’s less than the May output raise of 206,000 barrels a day.
| Revenue of $310.00M (17.29% Y/Y) beats by $11.42M
This article was written by
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
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