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NEW YORK ( TheStreet) -- "Mad Money" Research Director Nicole Urken sat down with TheStreet's Jim Cramer to discuss the recent weakness in the airline sector.
Both said Spirit Airlines (SAVE - Get Report) is their favorite company in the sector. Cramer noted the company's CEO, Ben Baldanza, was on "Mad Money" Monday, defending the fees the airline charges for services. Spirit does have a lot of fees, Cramer said, but it results in a cheap airline ticket, which is something that appeals to consumers.
"Understand that stocks don't go to the sky," Cramer said, referring to how to invest in airline stocks. People constantly ask him what to do when airline stocks are down for a day or two, he said. Airline stocks are "a multi-year move. If you can't handle that, please just go into an index fund," he concluded.Urken pointed out, there's essentially two worlds in the airline space: There's the oligopoly that consists of four major players, and there's the rest of the companies that are competing for the remaining profit. Cramer emphasized his bullish stance on the industry, stating, "I make mistakes, but this is not one of them." Urken finished by saying, "If you don't want to buy on a little bit of a pullback, then you're not in the game." To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Bret Kenwell in New York.