Shares of Spirit Airlines (SAVE) are down 57% year-to-date as the company's merger with JetBlue Airways (JBLU) was struck down by a federal judge in Boston. In its latest earnings release, Spirit CEO Ted Christie "The Spirit team is 100% clear and focused on the adjustments we are currently deploying and will continue to make throughout 2024 to drive us back to cash flow generation and profitability." Boyd Group International President Mike Boyd joins Yahoo Finance to discuss Spirit CEO's comments and the performance of Spirit moving forward. On what Spirit must do to succeed, Boyd points out: "The first issue is surviving. Take a look at that entire ultra low-cost sector...The real issue is what kind of traffic base is going to be out there for them. As more and more discretionary income starts to wane a little bit... the well is growing dry of the number of people who want to make an impulse trip to Las Vegas. You see Frontier (ULCC) cutting way back on Las Vegas and way back on Florida. I think that's a harbinger of things to come. They're going to have to find other types of revenue out there over the next year. It's going to be really hard... The good news again, is Spirit is aware of this and they have a management team that can pull it off." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

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