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:
  • Capacity: +21.6%. [more - original PR]

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