Record full year net income for Spirit

Victoria
By Victoria February 20, 2013 10:25

Record full year net income for Spirit

Spirit Airlines has posted a record net income of $108.5 million in 2012, a 42.1% increase over a net profit of $76.4 million in 2011.
“2012 was a very exciting year for Spirit. We successfully grew our business, delivered strong financial results and remained committed to our low-cost, low-fare strategy. This low-cost, low-fare strategy helped us to achieve among the highest margins in the industry,” said Ben Baldanza, Spirit’s President and Chief Executive Officer. “I want to thank and congratulate our team members that contributed to our success.”
Revenue grew by 23.1% to $1.32 billion while expenses increased 23.5% to $1.14 billion. Spirit’s operating income was $174 million, a rise of 20.5% over 2011.
The airline flew 20.7% more passengers in 2012 to 9.66 billion RPMs on the back of a 21.3% capacity increase to 11.34 billion ASMs. Spirit’s load factor rose only slightly (0.4%) to 85.2%.

Victoria
By Victoria February 20, 2013 10:25
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