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Spirit Airlines reports worsening net and operating losses in 12 months to Sep-08

Spirit reported a net loss of USD42 million in the 12 months ended 30-Sep-08, a worsening from the USD22 million net loss reported in the previous corresponding period. Operating revenue increased 13.4% year-on-year in the period to USD802 million, although operating expenses increased at a faster rate, by 18.1% to USD822 million, resulting in the carrier slipping to an operating loss of USD20 million in the period (comparatively, the LCC reported an operating profit of USD11 million in the 2007 period).

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