Spirit Airlines Profit Rises 18 Percent

Spirit Airlines reported an 18.3 percent rise in quarterly profit due to an increase in the number of flights and routes it operates.

Net income rose to USD$76.7 million in the second quarter ended June 30, from USD$64.8 million a year earlier.

Revenue rose 11 percent to USD$553.4 million.

Spirit's revenue per available seat mile dropped about 15 percent as capacity rose by 30 percent.

The carrier, which offers low base fares, said average ticket revenue per flight segment fell 19.4 percent to USD$68.35 due to increased competition.

Spirit's average non-ticket revenue per flight fell 1.9 percent to USD$54.71. This revenue includes fees for services such as pre-booking seats, in-flight refreshments and for baggage services.

The company said it started nonstop flights on 24 new routes and introduced three A320 aircraft, ending the quarter with 73 planes.