Spirit Airlines Q1 profit edges up
Spirit Airlines reported Q1 adjusted net income of US$72.3m, as cheap fuel and revenue from bag and other fees added to its bottom line. On a GAAP basis the carrier reported net income of $61.9m. Total revenue of $538.1m was up 9.1% from $493.4m the previous year. "The pricing environment remains very competitive, but we aren't just sitting passively by," CE Bob Fornaro said. "We have upgraded our pricing systems, made modest revisions to our schedules, and adjusted our approach to inventory management." Lower prices and extra flights from Spirit, which said capacity increased 27% in the quarter from a year ago, pushed the carrier's total operating revenue as measured against capacity down 13.8%. The measure declined 16% in Q4. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-27/unaligned/spirit-airlines-q1-profit-edges-up
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Spirit Airlines Q1 profit edges up
Spirit Airlines reported Q1 adjusted net income of US$72.3m, as cheap fuel and revenue from bag and other fees added to its bottom line. On a GAAP basis the carrier reported net income of $61.9m. Total revenue of $538.1m was up 9.1% from $493.4m the previous year. "The pricing environment remains very competitive, but we aren't just sitting passively by," CE Bob Fornaro said. "We have upgraded our pricing systems, made modest revisions to our schedules, and adjusted our approach to inventory management." Lower prices and extra flights from Spirit, which said capacity increased 27% in the quarter from a year ago, pushed the carrier's total operating revenue as measured against capacity down 13.8%. The measure declined 16% in Q4. <br/>
