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25-Jul-2012 1:47 PM

Spirit Airlines operating profit up 58%, net profit doubles in 2Q2012

Spirit Airlines revenue up 26% – financial highlights:

  • Three months ended 30-Jun-2012:
    • Operating revenue: USD346.3 million, +25.5% year-on-year;
      • Passenger: USD211.8 million, +17.4%;
      • Non-ticket: USD134.5 million, +40.9%;
    • Operating costs: USD291.2 million, +20.9%;
      • Fuel: USD120.2 million, +12.0%;
      • Labour: USD53.5 million, +18.4%;
    • Operating profit: USD55.1 million, +57.7%;
    • Net profit: USD34.6 million, +104.5%;
    • Passenger traffic (RPMs): +15.1%;
    • Load factor: 84.8%, -1.1 ppt;
    • Average yield: USD 14.44 cents, +9.1%;
    • Operating revenue per ASM: USD 12.25 cents, +7.7%;
    • Cost per ASM: USD 10.30 cents, +3.7%;
    • Aircraft: 42 aircraft, +20%;
  • Six months ended 30-Jun-2012:
    • Operating revenue: USD647.8 million, +27.4%;
      • Passenger: USD391.9 million, +17.4%;
      • Non-ticket: USD255.9 million, +46.4%;
    • Operating costs: USD555.4 million, +24.3%;
      • Fuel: USD229.0 million, +21.6%;
      • Labour: USD106.1 million, +20.1%;
    • Operating profit: USD92.4 million, +49.5%;
    • Net profit: USD58.0 million, +133.9%;
    • Passenger traffic (RPMs): +16.8%;
    • Load factor: 84.8%, -0.2 ppt;
    • Average yield: USD 14.11 cents, +9.0%;
    • Operating revenue per ASM: USD 11.96 cents, +8.8%;
    • Cost per ASM: USD 10.26 cents, +6.2%;
    • Total assets: USD869.5 million, +16.6% when compared to period ended 31-Dec-2011;
    • Cash and cash equivalents: USD415.0 million, +20.9% when compared to period ended 31-Dec-2011;
    • Total liabilities: USD342.2 million, +22.6% when compared to period ended 31-Dec-2011;
  • 3Q2012 forecast:
    • Capacity (ASMs): +22.0% year-on-year;
    • Cost per ASM*: USD 10.07 cents to USD 10.12 cents;
    • Cost per ASM excl fuel: USD 6.04 cents to USD 6.09 cents;
    • Average stage length: 892 miles;
  • 4Q2012 forecast:
    • Capacity (ASMs): +30.2%;
  • FY2012 forecast:

*Includes USD4.5 million of one-time start-up costs related to the Company's seat maintenance programme

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