Spirit reports rising revenue amid loss of over $100 million

Spirit Airlines recorded a $103.9 million or 95 cents a share loss in the first quarter of 2023 (Q1 2023). “Excluding special items, adjusted net loss for the first quarter 2023 was $89.4 million, or an adjusted net loss of $0.82 per diluted share,” the company said, where it gave a pre-tax loss of $141.6 million and a pre-tax margin of negative 10.5%. The adjusted pre-tax loss for the first quarter was $120.6 million, meaning an adjusted pre-tax margin of minus 8.9%. The carrier’s operating revenue for the period was $1.35bn, a 39% year-on-year increase, with total revenue per available