Spirit forecasts 2014 capacity to grow 15%

Washington DC
Source:
This story is sourced from Pro
See more Pro news »

Spirit Airlines expects to raise full-year capacity by about 15% in 2014.

The Miramar, Florida-based carrier says in updated guidance that it will grow available seat miles (ASM) by 22% in 2013. Capacity rose 20.8% in the first quarter, 21% in the second quarter, and 22.4% in the third quarter. Spirit estimates that fourth quarter capacity will grow 23.8%.

Spirit adds that adjusted cost per ASM in the fourth quarter is expected to range between 10.09 and 10.15 cents, or between 6.17 and 6.23 cents when excluding fuel.

The CASM guidance takes into account an estimated $10 million in additional expenses due to an engine failure on a Spirit Airbus A319 last month.

The carrier will end 2013 with a fleet of 54 aircraft, according to a fleet plan it provided with the updated guidance. It will take delivery of seven aircraft in 2014, 18 in 2015, 14 in 2016, 12 in 2017, six in 2018, 12 in 2019, six in 2020 and 14 in 2021. Spirit estimates it will have a fleet of 143 aircraft by the end of 2021.