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Spirit Airlines Posts Q1 Profit - $7.9mil Net  
User currently offlineSanti319 From Mexico, joined Dec 2005, 395 posts, RR: 0
Posted (3 years 4 months 2 days 8 hours ago) and read 5739 times:

Quote:
For 2010, we had total operating revenues of $781.3 million, operating income of $68.9 million and net income of $72.5 million ($19.7 million excluding the release of the valuation allowance on our deferred tax assets and related tax benefit).
Quote:
For the three months ended March 31, 2011, we had total operating revenues of $232.7 million, operating income of $26.8 million and net income of $7.9 million. We currently serve 46 airports.

From the following S1/A form
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Will this make Spirit the most profitable airline in the United States?? Considering they only have 35 planes...

[Edited 2011-05-03 07:18:12]

16 replies: All unread, jump to last
 
User currently offline0NEWAIR0 From United States of America, joined May 2007, 939 posts, RR: 0
Reply 1, posted (3 years 4 months 2 days 8 hours ago) and read 5687 times:

Why doesn't the title match the numbers given?


"The future belongs to those who believe in the beauty of their dreams."
User currently offlineSumma767 From United Kingdom, joined Mar 2004, 2559 posts, RR: 6
Reply 2, posted (3 years 4 months 2 days 8 hours ago) and read 5653 times:

Quoting Santi319 (Thread starter):
Will this make Spirit the most profitable airline in the United States?? Considering they only have 35 planes...

No... It's good that they are making a profit, but the operating profit $68.9 million for 2010 and $26.8 million for Q12011 is not exactly wild.
The figure of $781m that you quote is total revenue, and not profit, which is what's left when the operating expenses are taken out.
Still, good for them to have a black bottom line.


User currently offlineenilria From Canada, joined Feb 2008, 7144 posts, RR: 13
Reply 3, posted (3 years 4 months 2 days 7 hours ago) and read 5655 times:

Quoting 0NEWAIR0 (Reply 1):
Why doesn't the title match the numbers given?

He confused revenue and profit. It needs to be fixed.


User currently offline0NEWAIR0 From United States of America, joined May 2007, 939 posts, RR: 0
Reply 4, posted (3 years 4 months 2 days 7 hours ago) and read 5588 times:

Quoting enilria (Reply 3):
He confused revenue and profit. It needs to be fixed.

Oh... just before I posted that 232.7 number in the title was something like 237 or 234...so I was thrown way off. Now I see that he was confusing revenues and profits with the "corrected" 232.7 number.



"The future belongs to those who believe in the beauty of their dreams."
User currently offlinerbgso From United States of America, joined Jun 2006, 590 posts, RR: 0
Reply 5, posted (3 years 4 months 2 days 7 hours ago) and read 5375 times:

Quoting Santi319 (Thread starter):
Will this make Spirit the most profitable airline in the United States??

Probably, if the $232.7 million number was indeed profit, however unfortunately it is total revenue.

Not bad numbers, though, compared to the rest of the industry.


User currently offlineelmothehobo From United States of America, joined Aug 2006, 1539 posts, RR: 1
Reply 6, posted (3 years 4 months 2 days 7 hours ago) and read 5269 times:

An 11% profit margin in Q1? That's really, really good.

User currently offlineLAXintl From United States of America, joined May 2000, 25193 posts, RR: 48
Reply 7, posted (3 years 4 months 2 days 6 hours ago) and read 5226 times:

Carrier had a $26.8mil operating profit in the quarter but took a $4.1mil hedging settlement loss and $14.3mil in interest charge payment to its private equity owners lowering its net income to $7.9mil net profit in Q1 on $232.7mil revenues.

Spirit ended the quarter with $62.6mil in cash and equivalents.

I noticed Spirit generates an impressive average of $42.62 in non-ticket revenue per passenger.



From the desert to the sea, to all of Southern California
User currently offlineisitsafenow From United States of America, joined Feb 2004, 4984 posts, RR: 23
Reply 8, posted (3 years 4 months 2 days 4 hours ago) and read 4847 times:

The $781 million is what the carrier took in for 2010.,NOT PROFIT because now you have to pay all the bills.
Whats left over after paying the bills is profit.
safe

[Edited 2011-05-03 10:52:50]


If two people agree on EVERYTHING, then one isn't necessary.
User currently offlineTVNWZ From United States of America, joined Feb 2006, 2375 posts, RR: 2
Reply 9, posted (3 years 4 months 2 days 4 hours ago) and read 4712 times:

Pretty strong performance for such a small airline.

filler


User currently offlineLAXintl From United States of America, joined May 2000, 25193 posts, RR: 48
Reply 10, posted (3 years 4 months 2 days 3 hours ago) and read 4648 times:

For all the crap people like to throw at Spirit, they have really done a great job in recent years since the new management came on board, dumped the DC-9/MD-80 fleet and focused on the ULCC model.


From the desert to the sea, to all of Southern California
User currently offlineAWACSooner From United States of America, joined Jan 2008, 1902 posts, RR: 1
Reply 11, posted (3 years 4 months 2 days ago) and read 4083 times:

Quoting LAXintl (Reply 7):
I noticed Spirit generates an impressive average of $42.62 in non-ticket revenue per passenger.

Considering they're the only airline to charge for carry-on, I'm not surprised.


User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17450 posts, RR: 46
Reply 12, posted (3 years 4 months 1 day 23 hours ago) and read 3996 times:

Quoting LAXintl (Reply 7):
I noticed Spirit generates an impressive average of $42.62 in non-ticket revenue per passenger.

G4 was about $31 for comparison. I wonder what WN's is .



E pur si muove -Galileo
User currently offlinetimf From United States of America, joined Mar 2003, 969 posts, RR: 1
Reply 13, posted (3 years 4 months 1 day 21 hours ago) and read 3485 times:
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I didn't realize Spirit was planning an IPO. My first reaction was why was a privately held company even reporting their earnings.

User currently offlineslcdeltarumd11 From United States of America, joined Jan 2004, 3444 posts, RR: 0
Reply 14, posted (3 years 4 months 1 day 20 hours ago) and read 3462 times:

Its still impressive. I think ACY makes them some legitimate cash and has proven itself. South America must also be doing well. Now lets see how they do on LAX-LAS as time goes by. They really might end up doing well on this route

User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17450 posts, RR: 46
Reply 15, posted (3 years 4 months 1 day 19 hours ago) and read 3224 times:

Quoting slcdeltarumd11 (Reply 14):
South America must also be doing well. Now lets see how they do on LAX-LAS as time goes by.

I'm not sure the former is true seeing as they've gone after the latter instead.



E pur si muove -Galileo
User currently offlinewedgetail737 From United States of America, joined Aug 2003, 5902 posts, RR: 6
Reply 16, posted (3 years 4 months 1 day 17 hours ago) and read 2972 times:
Support Airliners.net - become a First Class Member!

Kudos to those at NK for a job well-done.

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