8-Feb-2017 12:19 PM
Spirit Airlines reports double-digit profit decline in 2016
Spirit Airlines revenue up 11% - financial highlights:
- Three months ended 31-Dec-2016:
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- Total operating revenue: USD578.4 million, +11.3% year-on-year;
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- Non-ticket: USD277.8 million, +10.1%;
- Total operating costs: USD493.0 million, +23.4%;
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- 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:
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- Total operating revenue: USD2322 million, +8.4%;
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- Non-ticket: USD1121 million, +15.3%;
- Total operating costs: USD1878 million, +15.1%;
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- 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]