About Spirit Airlines, Inc.

Spirit Airlines can lift the spirits of people seeking sunshine. The ultra low-cost carrier (ULCC) operates more than 250 daily flights between major US cities and popular vacation spots in South Florida, the Caribbean, and Latin America, serving nearly 80 destinations. It operates an all Airbus fleet of nearly 55 single-aisle aircraft, including A319s, A320s, and A321s. Spirit capitalizes on an ancillary service model, charging separately for baggage, advance seat selection, and other travel-related upgrades. In addition to scheduled service, the company partners with third-party vendors to offer a slate of vacation packages via its website.

Geographic Reach

The company's route network includes 191 markets served by 56 airports throughout North America, Central America, South America, and the Caribbean. Revenue generated from the US accounts for nearly 90% of Spirit's revenue.

Spirit Airlines has its executive offices and headquarters located in a leased facility in Florida. It has additional maintenance operations in leased facilities in Detroit; Chicago; Atlantic City, New Jersey; Dallas; Houston; and Las Vegas, Nevada.

Sales and Marketing

Spirit Airlines sells through its website, an outsourced call center, and third-party travel agents. Its spirit.com site accounts for about two-thirds of sales.

Financial Performance

With the Great Recession that decimated the airline industry far behind it, Spirit is enjoying uncharted growth over the years. Revenues jumped 11% from $1.93 billion in 2014 to $2.14 billion in 2015, a historic milestone for the company. The spike in revenue in 2015 was driven by a 2% increase in passenger revenue. Non-ticket revenue also climbed by 24% due to a 27% increase in traffic and an increase in baggage revenue per passenger flight segment.

Profits also surged 41% from $225 million in 2014 to peak at a record-shattering $317 million in 2015 due to the higher revenue and decreased increase expenses. In addition, its cash flow from operations skyrocketed by 82% from 2014 to 2015.

Strategy

To maintain its impressive growth trajectory, Spirit is expanding its city destination network while also concentrating its resources on the growing Caribbean and Latin American markets. Like most carriers within its industry, Spirit's top issue is controlling costs in order sustain a profit from its low fares.

To this end, the company has moved to an aggressive unbundling strategy to stimulate passenger demand and revenues. Unbundling allows passengers to pay separately for products and services that they want to use. Charging for such extras as onboard beverages and snacks enables Spirit to offset its low ticket prices as well as maintain its competitive market presence.

 

- Show Less + Show Full Description

Company News and Press Releases

- Show Less + Show More News and Press Releases

Spirit Airlines, Inc.

2800 Executive Way
Miramar, FL 33025-6542
Phone: 1 (954) 447-7920
Fax: 1 (954) 447-7979

Stats

  • Employer Type: Public
  • President, CEO, and Director: Robert L. Fornaro
  • President, CEO, and Director: Robert L. Fornaro
  • Chairman: H. McIntyre Gardner

Major Office Locations

  • Miramar, FL

Other Locations

  • Fort Lauderdale, FL
  • Tampa, FL