Spirit Airlines (SAVE) Sees Q3 TRASM Down ~7%; Updates on Operating Metrics
Tweet
Share
E-mailGet Alerts SAVE Hot Sheet
Join SI Premium – FREE
Spirit Airlines (NASDAQ: SAVE) provided the following update on Monday morning:
Third Quarter 2016
We estimate our total revenue per available seat mile (TRASM) for the third quarter 2016 was down approximately 7 percent year over year, 200 basis points better than our initial expectation. While system yields are still down year over year, throughout the quarter we saw improvement in passenger yields driven by our own revenue initiatives as well as a modest improvement in close-in industry yields. As anticipated, we saw a modest decrease in non-ticket revenue per passenger flight segment (PFS) for the third quarter 2016 ending the quarter with an estimated $51.17 in non-ticket revenue per PFS.
3Q16E | ||||
Capacity - Available Seat Miles (ASMs) | ||||
Year-over-Year % Change | 16.2% | |||
Adjusted Operating Expense Ex-Fuel per ASM (CASM) (cents)(2) | 5.49 | - | 5.54 | |
Average Stage Length (miles) | 968 | |||
Fuel Expense ($) | ||||
Fuel gallons (millions) | 78.3 | |||
Economic fuel cost per gallon(3) | $1.56 | |||
Selected Operating Expenses ($Millions) | ||||
Aircraft rent | $49.4 | |||
Depreciation and amortization | $25.3 | |||
Interest Expense, net of Capitalized Interest ($Millions) | ||||
Interest expense | $11.5 | |||
Capitalized interest | $(3.0) | |||
Interest expense, net of capitalized interest | $8.5 | |||
Effective Tax Rate | 37% | |||
Wtd. Average Diluted Share Count (Millions) | 69.8 | |||
Footnotes
(1) | Excludes special items which may include loss on disposal of assets and special charges. | ||||
(2) | Excludes all components of fuel expense, loss on disposal of assets, and special charges. | ||||
(3) | Includes fuel taxes and into-plane fuel cost. | ||||
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- John Rogers Jr. to leave Nike board after eight years of service
- Hitachi Energy to acquire Canduct Group to expand transformer supply
- HawkEye 360 names new leaders for its ISA division
Create E-mail Alert Related Categories
Corporate News, GuidanceSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
