Spirit Airlines’ total revenue per available seat mile for the first quarter of 2015 fell 9.9% as capacity, which rose 25% during the period, exceeded bookings. Spirit said the RASM decrease was driven by a 7.8% decrease in average yield due to the ramp up of its expansion in new and mature markets, overall fare compression in many of our markets, and increased capacity from other carriers in the Dallas markets. For the first quarter 2015, Spirit’s total operating revenue was $493.4 million, an increase of 12.6% compared to the first quarter 2014, driven by an increase in flight volume.

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