Spirit Airlines Profit Up 33 Percent

Low-cost US carrier Spirit Airlines reported stronger quarterly revenue and profit, helped by lower fuel costs and an increase in flights.

The company's net income rose to USD$74.4 million in the three months to December 31, from USD$55.9 million a year earlier.

Revenue rose 9.6 percent to USD$519.8 million.

Spirit said total revenue per available seat mile fell 12.6 percent in the fourth quarter ended December 31, reflecting lower air fares in an increasingly competitive market.

The results are the first for Spirit since the appointment of chief executive Robert Fornaro in January.

Analysts have said Fornaro's record of dealmaking could result in a merger of Spirit and Frontier Airlines, which have a common low-cost model and aircraft types.