Spirit Airlines reports full year profits

Spirit Airlines grew capacity 17.9%, grew revenue 16.8% to $1.9 billion, increased net income 33.3% and had a pretax return on invested capital of 30.1% during 2014. The ultra-low-cost carrier has posted its eighth consecutive year of profitability in 2014, with a 27.4% rise in net income to $225.5 million. The airline’s operating revenue grew 16.8% to $1.93 billion, while expenses rose by 14.9% to $1.58 billion, resulting in an operating profit of $355.3 million, up 25.8% compared to the year-ago period. For the full year, Spirit carried 18% more passengers with 14.2 billion RPMs. Capacity rose by 17.9% to