FORT LAUDERDALE, Fla. - (July 21, 2003) -Spirit Airlines, the largest privately-held carrier in the U.S., reports a record operating profit for the second quarter of the year.
“In our 12-year history, this is the highest operating profit we`ve ever experienced for the second quarter,” said Jacob Schorr, CEO and president of Spirit Airlines. Spirit has also seen an increase in revenue each year since it became a scheduled carrier in 1990.
* Revenue: $110 million
* Percent change over Q2 2002: 11%
* Operating profit: $21.9 million ($7.5 million, exclusive of the federal government`s $14.4 million in security reimbursements).
* Load Factor: 76.3%
“This is our 3rd consecutive quarter of operating profits. We run an efficient company which can in turn offer low fares to the traveler. We stay focused on being a reliable airline with friendly service and bringing value to our business and leisure passengers,” said Schorr.
Spirit Airlines operates on one of the lowest operating costs per available seat mile (CASM), the standard industry measurement. Spirit`s CASM was 7.33 cents for the quarter, even while experiencing an increase in fuel costs.
About Spirit Airlines:
Headquartered in Fort Lauderdale, Fla., Spirit Airlines is the largest privately-held airline in the U.S. With a fleet of modern aircraft for scheduled and charter service, Spirit brings low fares and friendly service to Atlantic City, N.J., Chicago/O`Hare, Denver, Detroit, Las Vegas, Los Angeles, Myrtle Beach, S.C., New York/LaGuardia, San Juan,
Puerto Rico and the Florida cities of Fort Lauderdale, Fort Myers, Orlando, Tampa and seasonal service to West Palm Beach. Spirit`s website is www.spiritair.com.