Spirit Airlines Reports August 2013 Traffic

09-Sep-2013

Spirit Airlines (NASDAQ: SAVE) today reported its preliminary traffic results for August 2013.

Traffic (revenue passenger miles) in August 2013 increased 28.0 percent versus August 2012 on a capacity (available seat miles) increase of 22.1 percent. Load factor for August 2013 was 90.7 percent, an increase of 4.2 points as compared to August 2012. Spirit's preliminary completion factor for August 2013 was 99.4 percent.

"As expected, the strength in demand we experienced in June continued throughout the seasonally strong summer travel period," said Ben Baldanza, Spirit's Chief Executive Officer. "We currently estimate total RASM for the third quarter 2013 will be up year-over-year in the mid-single digit range, driven primarily by higher yields and load factors in July and August, while yield and load factor for September are estimated to be flat to up slightly year-over-year as we head into the shoulder travel season."

The following table summarizes Spirit's traffic results for the month and year-to-date ended August 31, 2013 and 2012.

Footnotes
(1) Based on the jet fuel curve as of September 4, 2013. Excludes unrealized mark-to-market (gains) and losses which are comprised of estimated non-cash adjustments to aircraft fuel expense. The Company may have unrealized mark-to-market (gains) or losses in the third quarter 2013, but is not yet able to estimate the amount. Includes fuel taxes, into-plane fuel cost, and estimated fuel hedge (gains) and losses currently expected to be realized during the third quarter 2013.