Spirit Airlines reports double-digit profit decline in 2016

Spirit Airlines revenue up 11% - financial highlights:

• Three months ended 31-Dec-2016:
• • Total operating revenue: USD578.4 million, +11.3% year-on-year;
  • • Non-ticket: USD277.8 million, +10.1%;
  • Total operating costs: USD493.0 million, +23.4%;
  • • Fuel: USD126.5 million, +20.3%;
    • Labour: USD122.9 million, +26.7%;
  • Operating profit: USD85.3 million, -29.1%;
  • Net profit: USD48.5 million, -34.8%;
  • Passengers: 5.4 million, +15.0%;
  • Passenger load factor: 81.4%, -1.5 ppt;
  • Revenue per ASM: USD 8.78 cents, -3.6%;
  • Average yield: USD 10.79 cents, -1.9%;
  • Cost per ASM: USD 7.49 cents, +7.0%;
  • Adjusted cost per ASM excl fuel (excludes economic fuel expense and special items): USD 5.44 cents, +5.6%;
  • Average stage length: 981 miles, -1.9%;
• 12 months ended 31-Dec-2016:
• • Total operating revenue: USD2322 million, +8.4%;
  • • Non-ticket: USD1121 million, +15.3%;
  • Total operating costs: USD1878 million, +15.1%;
  • • Fuel: USD447.6 million, -3.0%;
    • Labour: USD472.5 million, +25.2%;
  • Operating profit: USD443.7 million, -12.9%;
  • Net profit: USD264.9 million, -16.5%;
  • Passengers: 21.6 million, +20.6%;
  • Passenger load factor: 84.7%, stable;
  • Revenue per ASM: USD 9.11 cents, -9.6%;
  • Average yield: USD 10.76 cents, -9.6%;
  • Cost per ASM: USD 7.37 cents, -4.0%;
  • Cost per ASM excl fuel (excludes economic fuel expense and special items): USD 5.45 cents, -0.9%;
  • Average stage length: 979 miles, -0.8%;
  • Total assets: USD3152 million;
  • Cash and cash equivalents: USD700.9 million;
  • Total liabilities: USD1757 million. [more - original PR]