Spirit Airlines has fourth consecutive profitable year in 2012


A Spirit Airlines jet requires off from McCarran International Airport on Friday, Aug. 26, 2011.

Spirit Airlines, the quickest-developing air carrier at McCarran International Airport last year, reported its fourth straight profitable year and enhanced monetary benefits in 2012, regardless of a fourth quarter hampered by cancellations resulting from Hurricane Sandy.

The Miramar, Fla.-based discount airline reported fourth-quarter earnings of $ 19.6 million, 27 cents a share, on income of $ 328.3 million. That compared with earnings of $ 24 million, 33 cents a share, on income of $ 273.9 million for the same quarter a year earlier.

For the year, Spirit reported earnings of $ 108.5 million, a 41.9 percent improve over 2011, and revenue of $ 1.32 billion, a 23.1 % improvement over the preceding year.

Spirit averages 19 flights a day to 11 destinations from McCarran. The organization has a lot more Las Vegas flights a week than US Airways or Allegiant Air.

The business estimated it took a $ 25 million financial hit as a result of Hurricane Sandy, which ravaged the East Coast in late October.

Highlights from Spirit’s earnings report:

• Spirit reported a 33.3 % boost, to $ 139.5 million in the fourth quarter, and a 40.four % increase, to $ 535.6 million for 2012, in “non-ticket operating revenues,” considerably of which was generated by the airline’s ancillary charge structure.

• The firm reported a dip in spring bookings attributed to buyers canceling spring break trips simply because numerous college districts canceled their spring breaks as a outcome of Hurricane Sandy.

• The firm will get nine new aircraft delivered this year.

• Spirit started or reported 28 new routes and markets in the fourth quarter, 3 of them involving Las Vegas. The organization started flights among McCarran and Houston in October. Service will commence between Las Vegas and Baltimore-Washington International Airport and Philadelphia on April 25.

Executive quote: “We’re a development company and we count on to expand by 15 to 20 % with the acquisition of new aircraft.” — Ben Baldanza, Spirit Airlines CEO in today’s earnings conference contact.

Leave a Comment

Your email address will not be published. Required fields are marked *

(Spamcheck Enabled)