Tag Archives: N502NK

Spirit Airlines to operate between Los Angeles and Oakland

Spirit Less Money More Go logo

Spirit Airlines (Fort Lauderdale/Hollywood) announced today it will add new nonstop service between Los Angeles International Airport (LAX) and Oakland International Airport (OAK),
beginning on November 12, 2015.

Spirit continues its build-up at LAX. This new service will consist of two daily nonstop flights, with a morning and evening flight each way. With this new service, Spirit will operate nonstop flights to 13 destinations from Los Angeles, including Atlanta (starting on August 20, 2015); Baltimore/Washington, DC (starting July 9, 2015), Chicago, Cleveland, Dallas/Fort Worth, Denver, Detroit, Fort Lauderdale/Hollywood, Houston, KansasCity (starting July 9, 2015), Las Vegas, Minneapolis-St. Paul, and Oakland (starting November 12, 2015).

From Oakland, Spirit will operate nonstop to five destinations, including Chicago (O’Hare), Dallas/Fort Worth, Houston (seasonal), Las Vegas, and Los Angeles (starting November 12, 2015).

Copyright Photo below: Ken Petersen/AirlinersGallery.com. Airbus A319-132 N502NK (msn 2433) prepares to land in Las Vegas.

Spirit Airlines aircraft slide show: AG Airline Slide Show

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Spirit Airlines launches 10 new routes

Spirit Airlines (Fort Lauderdale/Hollywood) yesterday (April 16) began nonstop service to 10 new destinations and increases service to 18 popular summer routes, including Cleveland, Boston, Denver, Los Angeles, Houston and Chicago. This marks one of the biggest days in Spirit’s history.

New Routes:

Spirit New Routes 4.16.15

Resumed Routes:

Spirit Resumed Routes

Copyright Photo: Ken Petersen/AirlinersGallery.com. Airbus A319-132 N502NK (msn 2433) approaches the runway at Las Vegas.

Spirit Airlines aircraft slide show: AG Airline Slide Show

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Spirit Airlines announces three new routes from Los Angeles

Spirit Airlines (Fort Lauderdale/Hollywood) continues its dramatic growth in 2015. The airline, in addition to new routes from Atlanta, has also announced daily nonstop service to three new cities from Los Angeles International Airport (LAX). Spirit has announce the following new daily, nonstop routes from Los Angeles:

●  Los Angeles to Baltimore and Kansas City starting July 9, 2015

●  Los Angeles to Atlanta starting August 20, 2015

With these additional routes, Spirit will operate flights to a total of 12 cities nonstop from LAX (see the map below). Current routes from Los Angeles include: Chicago, Cleveland (starting April 16, 2015), Denver (starting April 16, 2015), Dallas/Fort Worth, Detroit, Fort Lauderdale, Houston, Las Vegas, and Minneapolis-St. Paul.

 

8892_Spirit_RouteMap_1105_NoLegend

To date, Spirit has announced 26 new nonstop routes starting in 2015, and jumps to 37 with this announcement.

Top Copyright Photo: TMK Photography/AirlinersGallery.com. Airbus A319-132 N502NK (msn 2433) lands in Las Vegas.

Spirit Airlines aircraft slide show: AG Airline Slide Show

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System Route Map:

8892_Spirit_RouteMap_1105_NoLegend

Spirit Airlines is profitable for the 8th year in a row, profits increased 33% to $236.7 million

Spirit Airlines (Fort Lauderdale/Hollywood) continues to make money under its ultra low-fare strategy. For the fourth quarter (up 43%) and the full year (up 33%), profits soar. The airline issued this statement:

Spirit Airlines, Inc.reported fourth quarter and full year 2014 financial results.

Adjusted net income for the fourth quarter 2014 increased 43.2 percent to $58.7 million ($0.80 per diluted share) compared to the fourth quarter 20131. GAAP net income for the fourth quarter 2014 increased 29.4 percent year over year to $55.9 million ($0.76 per diluted share).

Adjusted net income for the full year 2014 increased 33.3 percent year over year to $236.7 million ($3.23 per diluted share). GAAP net income for the full year 2014 increased 27.4 percent year over year to $225.5 million ($3.08 per diluted share).

Adjusted pre-tax margin for the fourth quarter 2014 was 19.7 percent, up 4.3 percentage points year over year. For the full year 2014, adjusted pre-tax margin was 19.2 percent, up 2.1 percentage points compared to 20131. On a GAAP basis, pre-tax margin for the fourth quarter 2014 was 18.8 percent and for the full year 2014 was 18.3 percent.

Spirit ended 2014 with an unrestricted cash and cash equivalents balance of $632.8 million.
Spirit’s return on invested capital (before taxes and excluding special items) for the twelve months ended December 31, 2014 was 30.1 percent.

Revenue Performance

For the fourth quarter 2014, Spirit’s total operating revenue was $474.5 million, an increase of 13.0 percent compared to the fourth quarter 2013, driven by an increase in flight volume.

Total revenue per available seat mile (“RASM”) for the fourth quarter 2014 decreased 5.1 percent compared to the fourth quarter 2013 on a capacity increase of 18.9 percent. The decrease was driven by a mix of lower passenger yields and a 1.4 point decline in load factor.

Total revenue per passenger flight segment (“PFS”) for the fourth quarter 2014 decreased 3.7 percent year over year to $127.91, driven by a 6.1 percent decrease in ticket revenue per PFS and a 0.3 percent decrease in non-ticket revenue per PFS. During the fourth quarter, the Company transitioned its onboard catering to a third-party provider under a revenue share agreement. As a result of this change, in the fourth quarter 2014, the Company recorded lower non-ticket revenue and correspondingly lower costs than it would have otherwise.

Cost Performance

Total operating expenses for the fourth quarter 2014, excluding $4.5 million of special items3, increased 6.9 percent to $380.0 million. Including special items, total operating expenses increased 9.3 percent year over year to $384.5 million.

Spirit reported fourth quarter 2014 cost per available seat mile (ASM) excluding special items and fuel (“Adjusted CASM ex-fuel”)3 of 5.61 cents, a decrease of 2.9 percent compared to the same period last year driven in part by lower distribution expense, maintenance expense, and aircraft rent per ASM. Distribution expense per ASM in the fourth quarter 2014 was lower compared to the same period last year primarily due to a one-time litigation settlement gain of approximately $2.9 million and a larger percentage of tickets being booked directly through spirit.com, the Company’s lowest cost distribution channel. The decrease in maintenance expense per ASM year over year was driven by an expense reversal in the fourth quarter 2014 associated with an insurance claim, along with a one-time $750,000 insurance deductible expense in the fourth quarter 2013. The decrease in aircraft rent per ASM was driven by a change in the mix of leased (rent recorded under aircraft rent) and purchased (amortization recorded under depreciation and amortization) aircraft.

Copyright Photo: Brian McDonough/AirlinersGallery.com. In the fourth quarter 2014, Spirit took delivery of seven new Airbus A320 aircraft, ending the year with 65 aircraft in its fleet. In addition, during 2014, the low fare carrier went to this highly visible “Home of the Bare Fare’ canary yellow color scheme. Airbus A319-132 N502NK (msn 2433) lands at the Fort Lauderdale-Hollywood International Airport base which now enjoys two parallel jet runways.

Spirit Airlines aircraft slide show: AG Airline Slide Show

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Spirit Airlines announces a major expansion at Houston; 10 new destinations

Spirit Airlines (Fort Lauderdale/Hollywood) has announced it will be expanding its nonstop
service to ten new destinations beginning in the Spring of 2015. The new locations include domestic cities including Tampa, Baltimore/Washington, DC and Oakland, and seven destinations in Latin America including Mexico, Costa Rica, El Salvador, Honduras, and Nicaragua (International routes are subject to foreign governmental approval).

New U.S. Destinations
——————————————————————————————–
Destination Start Date Frequency
——————————————————————————————-
Tampa (TPA) March 26, 2015 Daily
——————————————————————————————-
Baltimore/Washington, DC (BWI) March 27, 2015 Daily
——————————————————————————————-
Oakland/San Francisco Bay (OAK)* April 16, 2015 Daily
——————————————————————————————-

New Mexican Destinations**
——————————————————————————————–
Destination Start Date Frequency
——————————————————————————————-
Cancun, Mexico (CUN) May 7, 2015 3 per week
Increases to daily on June 11, 2015
——————————————————————————————-
Los Cabos, Mexico (SJD)* May 7, 2015 2 per week
Increases to 4 per week on June 11, 2015
——————————————————————————————-
Toluca/Mexico City, Mexico (TLC)* May 7, 2015 2 per week
Increases to 3 per week on June 11, 2015
——————————————————————————————-

New Central American Destinations**
——————————————————————————————–
Destination Start Date Frequency
——————————————————————————————-
Managua, Nicaragua (MGA) May 28, 2015 3 per week
——————————————————————————————-
San Jose, Costa Rica (SJO) May 28, 2015 4 per week
——————————————————————————————-
San Pedro Sula, Honduras (SAP) May 28, 2015 3 per week
——————————————————————————————-
San Salvador, El Salvador (SAL) May 28, 2015 4 per week
——————————————————————————————-

* Routes served for summer season only

** International routes are subject to foreign governmental approval

These new destinations are in addition to the 12 nonstop cities Spirit
currently offers from Houston, which includes Atlanta, Chicago (O’Hare), Denver, Detroit, Fort Lauderdale/Hollywood, Kansas City, Las Vegas, Los Angeles, Minneapolis-St. Paul, New Orleans, Orlando, and San Diego, along with connecting service to an additional 17 cities.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Airbus A329-132 N502NK (msn 2433) arrives in Las Vegas in the new look.

Spirit Airlines aircraft slide show: AG Slide Show

Spirit Less Money More Go logo

Existing and new routes from IAH:

Spirit IAH 11.2014 Route Map

Spirit Airlines announces a record third quarter net profit, increases 27.6% to $73.9 million

Spirit Airlines, Inc. (Fort Lauderdale/Hollywood) today (October 28) reported third quarter 2014 financial results:

Adjusted net income for the third quarter 2014 increased 27.6 percent to $73.9 million ($1.01 per diluted share) compared to $57.9 million ($0.79 per diluted share) for the third quarter 20131. GAAP net income for the third quarter 2014 was $67.0 million ($0.91 per diluted share) compared to $61.1 million ($0.84 per diluted share) in the third quarter 2013.

For the third quarter 2014, Spirit delivered a record adjusted pre-tax margin of 21.3 percent compared to 20.3 percent over the same period in 20131. On a GAAP basis, pre-tax margin for the third quarter 2014 was 19.3 percent compared to 21.4 percent in the third quarter 2013.

Spirit ended the third quarter 2014 with $588.5 million in unrestricted cash.

Spirit’s return on invested capital (before taxes and excluding special items) for the twelve months ended September 30, 2014 was 31.6 percent.

Revenue Performance

For the third quarter 2014, Spirit’s total operating revenue was $519.8 million, an increase of 13.8 percent compared to the third quarter 2013. The increase was primarily driven by our growth in flight volume and higher operating yields.

Total revenue per available seat mile (“RASM”) for the third quarter 2014 was 12.45 cents, a decrease of 0.8 percent compared to the third quarter 2013. A year-over-year increase in average stage length for the third quarter 2014 contributed 0.4 percentage points to the decline in RASM. In addition, average load factor for the third quarter 2014 declined 1.5 pts, in part due to increased margin accretive flying on non-peak travel days (Tuesday/Wednesday), contributing to the decrease in RASM.

Passenger flight segment (“PFS”) volume for the third quarter 2014 grew 11.2 percent year over year, and the Company’s total revenue per PFS for the third quarter 2014 increased 2.4 percent year over year to $138.54 driven by increases in both ticket and non-ticket revenue per PFS. Demand and pricing strength in the peak summer travel period drove the increase in ticket revenue per PFS and an increase in seat revenues was the primary driver of non-ticket per PFS.

Cost Performance

Total operating expenses for the third quarter 2014, excluding $10.4 million of special items4, increased 12.5 percent to $409.2 million on a capacity increase of 14.7 percent. Including special items, total operating expenses increased 16.9 percent year over year to $419.6 million.

Spirit reported third quarter 2014 cost per available seat mile excluding special items and fuel (“Adjusted CASM ex-fuel”)4 of 5.92 cents, an increase of 1.0 percent compared to the same period last year. Higher salary, wages, and benefits, landing fees and other rents, and depreciation and amortization per ASM were partially offset by lower passenger re-accommodation expense (recorded within Other operating expense) as a result of improved operational reliability.

During the third quarter 2014, the Company became aware of an underpayment of Federal Excise Tax (“FET”) for fuel purchases during the period between July 1, 2009 and August 31, 2014. The commencement of the period in which the Company underpaid FET coincided with a change in its fuel service provider that took place in July 2009. In its calculation for economic fuel price for the third quarter 2014, the Company excluded the prior years’ additional FET amount of $9.3 million as a special item but included the year-to-date 2014 additional FET amount of $2.1 million.

Selected Balance Sheet and Cash Flow Items

As of September 30, 2014, Spirit had $588.5 million in unrestricted cash and cash equivalents. For the nine months ended September 30, 2014, Spirit incurred capital expenditures of $26.3 million, paid $116.0 million in pre-delivery deposits for future deliveries of aircraft, net of refunds, and recorded an increase of $29.0 million in maintenance deposits, net of reimbursements.

Fleet

In the third quarter 2014, Spirit took delivery of one new Airbus A320 aircraft, ending the quarter with 58 aircraft in its fleet. Earlier in the month of October, the Company took delivery of a new A320 aircraft and has six more new A320 aircraft scheduled for delivery by year-end 2014.

Third Quarter 2014 and Other Current Highlights

Added/announced new service between (service start date):

– Fort Lauderdale and New Orleans (8/1/14)

– Boston and West Palm Beach (11/14/14)5

– Houston and New Orleans (8/1/14)

– Latrobe/Pittsburgh and Tampa (12/18/14)5

– Houston and Atlanta (8/1/14)

– Latrobe/Pittsburgh and Fort Myers (12/19/14)5

– Kansas City and Chicago (8/7/14)

– Denver and San Diego (1/5/15)

– Kansas City and Dallas/Fort Worth (8/7/14)

– Cleveland and Orlando (1/15/15)

– Kansas City and Detroit (8/7/14)

– Cleveland and Tampa (1/15/15)5

– Kansas City and Las Vegas (8/7/14)

– Cleveland and Fort Myers (1/15/15)5

– Kansas City and Houston (8/8/14)

– Cleveland and Fort Lauderdale (2/5/15)

– Fort Lauderdale and Houston (9/3/14)

– Cleveland and Dallas/Fort Worth (2/5/15)

– Houston and San Diego (9/3/14)

– Cleveland and Las Vegas (2/5/15)

– Detroit and Atlanta (10/24/14)

– Cleveland and Los Angeles (4/16/15)

– Chicago and Atlanta (10/24/14)

– Cleveland and Myrtle Beach (4/16/15)5

– Detroit and New Orleans (10/30/14

– Chicago and San Diego (4/16/15)

– Chicago and New Orleans (10/30/14)

– Chicago and Philadelphia (4/16/15)

Maintained its commitment to offer low fares to its valued customers; average ticket revenue per passenger flight segment for the third quarter 2014 was $84.50 with total revenue per passenger flight segment of $138.54.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Airbus A319-132 N502NK (msn 2433) in the new canary yellow “Home of the Bare Fare” livery arrives in Las Vegas.

Spirit Airlines: AG Slide Show

Spirit Airlines to start Denver-San Diego flights on January 6

Spirit Airlines (Fort Lauderdale/Hollywood) is again expanding its network. The carrier will add daily nonstop flight between Denver and San Diego starting on January 6, 2015 according to The Denver Post.

Spirit returned to Denver in 2012 and has been adding routes since then.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Reflecting the new “Bare Fare” advertising campaign, Airbus A319-132 N502NK (msn 2433) arrives in Las Vegas in the bright new canary yellow 2014 color scheme.

Spirit Airlines: AG Slide Show

Spirit Airlines has taken the “Bare Fare” concept (i.e. charging for all extras) to the extreme, even now charging for carry-ons. They provide this “Pro Tips” guidance to avoid some of the extra charges:

Bare Fare pro Tips

Spirit Airlines Aircraft Slide Show:

Video: The Bare Fare explained by Spirit:

Spirit Airlines announces four new routes from Minneapolis/St. Paul

Spirit Airlines (Fort Lauderdale/Hollywood) today announced that it is starting seasonal service between Minneapolis-St. Paul International Airport (MSP) and four new cities, including Los Angeles (LAX), Orlando (MCO), Phoenix Sky Harbor
(PHX) and Tampa (TPA). The nonstop daily flights start on November 7, 2013.

Spirit has continued to grow since starting service at MSP in June 2012 and currently offers nonstop service from MSP to Chicago, Dallas/Fort Worth, Denver (summer seasonal) and Las Vegas, as well as nonstop seasonal service resuming to Fort Lauderdale/Hollywood and Fort Myers on November 7, 2013.

Spirit’s Minneapolis/St. Paul (MSP) — Los Angeles (LAX) seasonal schedule effective November 7,
2013:
————————————————————————————————–

Depart        Arrive     Flight #   Stops   Frequency
—————————————-  ————  ————  ——–  ——  ———-

Minneapolis/St. Paul — Los Angeles          4:15 PM       6:15 PM       323       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Los Angeles — Minneapolis/St. Paul          8:05 AM       1:45 PM       424       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Spirit’s Minneapolis/St. Paul (MSP) — Orlando (MCO) seasonal schedule effective November 7, 2013:
————————————————————————————————–

Depart        Arrive     Flight #   Stops   Frequency
—————————————-  ————  ————  ——–  ——  ———-

Minneapolis/St. Paul — Orlando              7:50 AM      12:05 PM       135       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Orlando — Minneapolis/St. Paul             12:55 PM       3:25 PM       250       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Spirit’s Minneapolis/St. Paul (MSP) — Phoenix Sky Harbor (PHX) seasonal schedule effective
November 7, 2013:
————————————————————————————————–

Depart        Arrive     Flight #   Stops   Frequency
—————————————-  ————  ————  ——–  ——  ———-

Minneapolis/St. Paul — Phoenix              9:25 AM      11:50 AM       345       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Phoenix — Minneapolis/St. Paul              3:10 PM       7:15 PM       342       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Spirit’s Minneapolis/St. Paul (MSP) — Tampa (TPA) seasonal schedule effective November 7, 2013:
————————————————————————————————–

Depart        Arrive     Flight #   Stops   Frequency
—————————————-  ————  ————  ——–  ——  ———-

Minneapolis/St. Paul — Tampa                3:00 PM       7:10 PM       427       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Tampa — Minneapolis/St. Paul                7:55 PM      10:20 PM       428       0       Daily
—————————————-  ————  ————  ——–  ——  ———-

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Airbus A319-132 N502NK (msn 2433) climbs away from the runway at Los Angeles International Airport.

Spirit Airlines: AG Slide Show

Spirit Airlines moves up the start date for Myrtle Beach seasonal service

Spirit Airlines (Fort Lauderdale/Hollywood) has moved up the start dates for its 2013 seasonal service to/from Myrtle Beach – and most just in time for the Valentine’s and President’s Day Weekend, including:

  • Daily nonstop service between Myrtle Beach and Chicago O’Hare starting February 14, 2013.
  • Daily nonstop service between Myrtle Beach and Detroit starting February 14, 2013.
  • Three weekly nonstop flights between Myrtle Beach and Latrobe/Pittsburgh starting February 14, 2013, with service increasing to daily on April 24, 2013.
  • Two weekly nonstop flights between Myrtle Beach and Niagara Falls, New York/Toronto starting February 15, 2013, with service increasing to four weekly flights on April 25, 2013.
  • Two weekly nonstop flights between Myrtle Beach and Charleston, West Virginia starting March 2, 2013, with service increasing to three weekly flights on April 25, 2013.

Copyright Photo: Michael B. Ing. Airbus A319-132 N502NK (msn 2433) climbs away from Los Angeles International Airport.

Spirit Airlines: AG Slide Show

Route Map:

Spirit 12:2012 Route Map