Spirit profits on Q2 improved ancillary revenue, on-time performance

Spirit Airlines returned to profitability in Q2 of 2018, posting an US$11.3m net profit on top of a 21.6% rise in revenue. While Spirit’s Q2 net result is a fraction of what the carrier reported a year ago ($77.2m net profit in Q2 2017), it is nonetheless a rebound from the $45m net loss the company reported in the 2018 March quarter. “Despite materially higher fuel prices, our second-quarter results exceeded our expectations due to strong ancillary revenue production and better than expected cost performance, primarily driven by [our] operational performance,” Spirit CE and director Bob Fornaro said. According to US DoT statistics, Spirit achieved a 79.6% on-time performance, Fornaro said, the airline’s best Q2 on-time record ever. <br/>