Spirit Airlines expects operating margin of 20.5% to 22.0% in 3Q2014

Spirit Airlines stated (29-Jul-2014) it expects an operating margin of 20.5% to 22.0% in 3Q2014 and an operating margin of 17.5% to 18.5% in FY2014. The carrier expects capacity in available seat miles to change by 14.7% in 3Q2014 and by 18.7% in 4Q2014. Spirit anticipates to consume 51,909 gallons of fuel and 200,935 gallons in FY2014. Spirit said it expects capital expenditures of USD60 million and aircraft purchase commitments of USD480 million in FY2014. The carrier plans to hedge 50% of expected fuel requirements for 2Q2014 at an average price of USD3.25/gallon and 50% of fuel requirements for 4Q2014 at USD3.24/gallon. [more - original PR]