Spirit 2nd quarter results

[sealy101]

Looks like we are doing well.


July 24, 2012
Spirit Airlines Increases Second Quarter Adjusted Net Income 35.4% While Lowering Average Base Fare per Flight Segment to $81.06

MIRAMAR, Fla., July 24, 2012 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (Nasdaq:SAVE) today reported second quarter 2012 financial results.

Net income, excluding special items, for the second quarter 2012 increased 35.4 percent to $35.3 million, or $0.49 per diluted share, as compared to pro forma second quarter 2011 net income.1 GAAP net income for second quarter 2012 was $34.6 million, or $0.48 per diluted share.
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For the second quarter of 2012, the Company grew its operating margin, excluding special items, by 1.5 points to 16.3 percent as compared to second quarter 2011.1 Operating margin on a GAAP basis was 15.9 percent for the second quarter of 2012.
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Adjusted EBITDAR margin for the second quarter 2012 was 27.6 percent, up 1.7 points year-over-year.
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Spirit ended the second quarter 2012 with $415.0 million in unrestricted cash.

 

[Whataburger]

My magic 8ball has Spirit and Allegiant encroching on bigger airlines' territory domestically. Especially ours. SWA has proven that all people want is "Cheap." Period.

Hell, Allegiant is like Chick-fil-a: They aren't even open every day of the week and still kick ass.

Spirit survived a strike in the worst economic decade of most of our lives.

Nice job guys.

Virgin America, Jet Blue, Spirit, Allegiant will all survive for a long time. Small kickbutt airlines that are too small for the legacies to worry about but have passengers who love them.

 

[SWA/FO]

Look for Southwest to go after Spirit after all the trannys are on board, if they are still available .

 

[sealy101]

Look for Southwest to go after Spirit after all the trannys are on board, if they are still available .

Let's hope that doesn't happen.

 

[Flyer1015]

Look for Southwest to go after Spirit after all the trannys are on board, if they are still available .

Yup!

"And don't worry, we plan on bringing in and keeping the Airbus A320 fleet."

"Go ahead and accept this SLI deal, or face a potential non-integration."

{SLI method accepted, Spirit pilots screwed}

8 months later, Airbuses all sold off, "it doesn't fit the SWA vision and model."

"Sorry if you thought something else during the SLI talks."

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Does that sound about right?

 

[SWA/FO]

Yep..... sounds about right.

 

[B6Busdriver]

42 airplanes and a $35million profit...impressive. No debt to boot. With a market cap of 1.3billion that's a hefty price to pay for so few assets. Good luck WN.

 

[relief tube]

Virgin America, Jet Blue, Spirit, Allegiant will all survive for a long time.

when you pay everyone half of what every else pays, sure they will

 

[DonVerita]

when you pay everyone half of what every else pays, sure they will

Well...not really.

If you check www.airlinepilotcentral.com, you can find the current pay rates for all four of the airlines you mentioned. To say that they are getting paid half of what everyone else makes (I'll assume you mean Nationals and Majors) is factually incorrect.

Virgin America and Spirit are both National level airlines. Their pay for that tier is quite respectable.

JetBlue is a Major and its pay for that tier is also respectable.

Should all three be higher? Of course. But when compared to the rest of the industry at this time, it's not too shabby.

Allegiant has a moving payscale, so I don't know how to characterize them.