— Spirit Airlines (NYSE: SAVE) reported fourth-quarter 2019 earnings of $1.24 per share versus $1.20 per share expected.
— Revenues rose 12.4% to $969.8 million versus $965.56 million expected. This was driven by an 18.6% growth in flight volume.
— Total operating revenue per available seat mile (TRASM) edged down 3.6% year-over-year, due to lower operating yields as load factor was up slightly.
— Cost per available seat mile, excluding one-time items, jumped by 3.3%. This was due to heavy maintenance amortization, maintenance, material and repairs, and other operating expenses.
— Spirit took delivery of nine new aircraft (seven A320neo and two A320ceo) during the fourth quarter, ending the year with 145 aircraft in its fleet.
ADVERTISEMENT