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Spirit Airlines Inc   (SAVE)
Other Ticker:  
 
    Sector  Transportation    Industry Airline
   Industry Airline
   Sector  Transportation
 
Price: $4.2800 $-0.01 -0.233%
Day's High: $4.4 Week Perf: -6.96 %
Day's Low: $ 4.12 30 Day Perf: -35.05 %
Volume (M): 5,661 52 Wk High: $ 19.69
Volume (M$): $ 24,227 52 Wk Avg: $14.25
Open: $4.30 52 Wk Low: $4.04



 Market Capitalization (Millions $) 467
 Shares Outstanding (Millions) 109
 Employees 4,219
 Revenues (TTM) (Millions $) 5,363
 Net Income (TTM) (Millions $) -447
 Cash Flow (TTM) (Millions $) -481
 Capital Exp. (TTM) (Millions $) 11

Spirit Airlines Inc
Spirit Airlines is an ultra low-cost, low-fare airline based in Miramar, Florida that offers affordable travel to price-conscious customers. Our all-Airbus fleet currently operates more than 300 daily flights to 56 destinations in the United States, Caribbean and Latin America. Our stock trades on the NASDAQ Global Select Stock Market under the symbol "SAVE."

Our ultra low-cost carrier, or ULCC, business model allows us to compete principally by offering customers our Bare Fares TM, which are unbundled base fares that remove components traditionally included. We then give customers Frill Control TM, which provides customers the freedom to save by paying only for the options they choose such as bags, advance seat assignments and refreshments.

Our ULCC business model provides customers very low, unbundled base fares with a range of optional services, allowing customers the freedom to choose only the options they value. The success of our model is driven by our low cost structure, which permits us to offer very low base fares while maintaining one of the highest profit margins in the industry.
We are focused on price-sensitive travelers who pay for their own travel, and our business model is designed to deliver what we believe our customers want: low fares. We aggressively use low fares to stimulate air travel demand in order to increase passenger volume, load factors and non-ticket revenue on the flights we operate. Higher passenger volumes and load factors help us sell more ancillary products and services, which in turn allows us to reduce the base fare we offer even further, stimulating additional demand. We strive to be recognized by our customers and potential customers as the low-fare leader in the markets we serve.


We compete based on total price. We believe other airlines have used an all-inclusive price concept to effectively raise total prices to consumers, rather than lowering fares by unbundling each product or service. For example, carriers that tout “free bags” have included the cost of checking bags in the total ticket price, which does not allow passengers to see how much they would save if they did not check luggage. We believe that we and our customers benefit when we allow our customers to know the total price of their travel by breaking out the cost of optional products or services. Customers booking through our website are easily able to compare the total cost of flying with us versus flying with another airline.
We allow our customers to see all available options and their respective prices prior to purchasing a ticket, and this full transparency illustrates that our total price, including options selected, is lower than other airlines on average.

Ultra-Low Cost Structure. Our unit operating costs are among the lowest of all airlines operating in the Americas. We believe this cost advantage helps protect our market position and enables us to offer some of the lowest base fares in our markets, sustain among the highest operating margins in our industry and support continued growth. Our operating costs per available seat mile (CASM) of 9.65 cents in 2014, were significantly lower than those of the major domestic network carriers and among the lowest of the domestic low-cost carriers. We achieve these low unit operating costs in large part due to:

high aircraft utilization;

high-density seating configurations on our aircraft, which is part of our Plane Simple TM strategy with its dense seating configurations and simplified onboard product designed to lower costs;

no hub-and-spoke inefficiencies;

highly productive workforce;

opportunistic outsourcing of operating functions;

operating our Fit Fleet TM, a modern single fleet type of Airbus A320-family aircraft with common flight crews across it;

reduced sales, marketing and distribution costs through direct-to-consumer marketing;

efficient flight scheduling, including minimal ground times between flights; and

a company-wide business culture that is keenly focused on driving costs lower.
Innovative Revenue Generation. We execute our innovative, unbundled pricing strategy to produce significant non-ticket revenue generation, which allows us to stimulate passenger demand for our product by lowering base fares and enabling passengers to identify, select and pay for the products and services they want to use. Our unbundled strategy has enabled us to grow average non-ticket revenue per passenger flight segment from approximately $5 in 2006 to $55 in 2014 by:

charging for checked and carry-on baggage;

passing through all distribution-related expenses;

charging for premium seats and advance seat selection;

enforcing ticketing policies, including service charges for changes and cancellations;

generating subscription revenue from our $9 Fare Club ultra low-fare subscription service;

deriving brand-based revenues from proprietary services, such as our FREE SPIRIT affinity credit card program;

offering third-party travel products (travel packages), such as hotel rooms, ground transportation (rental and hotel shuttle products) and attractions (show or theme park tickets) packaged with air travel;

selling third-party travel insurance through our website; and

selling in-flight products and onboard advertising



   Company Address: 2800 Executive Way Miramar 33025 FL
   Company Phone Number: 447-7920   Stock Exchange / Ticker: NYSE SAVE
   


Customers Net Income fell by SAVE's Customers Net Profit Margin fell to

-52.62 %

4.23 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AAL        1.07% 
DAL        1.59% 
HA   -1.38%    
JBLU   -0.14%    
LTM   -0.14%    
LUV   -2.61%    
• View Complete Report
   



Spirit Airlines Inc

Spirit Airlines Soars into its 20th Anniversary in Cancun with Unbeatable Deals and Thriving Amidst Competition

Spirit Airlines Celebrates 20th Anniversary in Cancun with Unbeatable Savings and Faces Competitive Challenges
Spirit Airlines, a renowned name within the aviation industry, is celebrating its 20th anniversary in style by offering limited-time anniversary fares to Cancun. Known for providing affordable travel options, Spirit Airlines has been flying passengers between Cancun International Airport (CUN) and various destinations for the past two decades. The airline has established itself as a reliable and budget-friendly option for those seeking a warm Mexican getaway.
Throughout its existence, Spirit Airlines has been committed to offering value to its customers, which has been the driving force behind its success. By providing competitive fares, the airline has enabled countless travelers to explore their dream vacation spots without breaking the bank. Now, on its 20th anniversary, Spirit Airlines is taking its commitment to affordability to new heights with limited-time fares starting at just $79 one-way to Cancun.

Products & Services

Spirit Airlines Celebrates 20 Years of Affordable Flying in Cancun while Facing Tough Competition

Published Mon, Jan 29 2024 4:16 PM UTC

Spirit Airlines Celebrates 20th Anniversary in Cancun with Unbeatable Savings and Faces Competitive ChallengesIn a vibrant display of its success and continued commitment to providing affordable travel options, Spirit Airlines is commemorating its 20th anniversary with limited-time anniversary fares starting at just $79 one-way to Cancun. The ultra-low-cost carrier has been ...

Products & Services

Spirit Airlines Soars into 30th Anniversary with Launch of Fort Myers to Puerto Rico Nonstop Service and Notable Revenue Growth despite Industry Challenges

Published Fri, Dec 15 2023 5:00 PM UTC


Celebrating 30 remarkable years of serving Southwest Florida, Spirit Airlines is paving its pathway for the 31st year with a game-changing strategy. On December 15, 2023, the airline company launched the first-ever nonstop flight service from Southwest Florida International Airport to Puerto Rico's Luis Munoz Marin International Airport. Marking the only nonstop service...

Spirit Airlines Inc

Spirit Airlines Inc.'s Financial Woes Deepen Amid Fierce Airlines Battle in Third Quarter of 2023

/>Spirit Airlines Inc. (SAVE) disappoints investors yet again as the company reports a significant deterioration in financial performance during the third quarter of 2023. With a substantial increase in losses per share and a decline in revenue, Spirit Airlines Inc. faces numerous challenges in a highly competitive airline sector. This article explores the company's recent financial results, the reasons behind its declining performance, and the potential implications for its shareholders.
Deteriorating Financial Performance:
During the third quarter of 2023 earnings season, Spirit Airlines Inc. reported a deepening loss per share of $-1.44. This represents a significant decline compared to $-0.33 per share reported in the same period last year and an even steeper increase from the preceding reporting season's loss of $-0.02 per share. This indicates a distressing trend of worsening financial performance for the company.

Spirit Airlines Inc

Spirit Airlines Witnesses Revenue Boost and Loss Reduction in Q2 2023

Spirit Airlines Inc. is an American ultra-low-cost airline based in Miramar, Florida. The company provides both scheduled and chartered flights to over 70 destinations across the United States, the Caribbean, and Latin America. Spirit Airlines is known for its no-frills approach and affordable fares, targeting budget-conscious travelers.
Analyzing the financial performance of Spirit Airlines for the April to June 30, 2023 financial span reveals some positive trends. The company managed to decrease its loss per share significantly from $-0.48 per share a year ago to $-0.02 per share. Additionally, the Income per Share improved from $-0.95 per share in the previous reporting season. These improvements demonstrate the company's efforts to control costs and enhance its operational efficiency.






 

Spirit Airlines Inc's Segments
 
 
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  Revenue Outlook
Spirit Airlines Inc does not provide revenue guidance.

Earnings Outlook
Spirit Airlines Inc does not provide earnings estimates.

 
Geographic Revenue Dispersion




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