Spirit Airlines saw cash and cash equivalents increase to $483.5 million during the first quarter, as its lease obligations also increased.
The Miramar, Florida-based low-cost carrier's cash was up 16% from $416.8 million during the period, according to a stock exchange filing on 30 April. Cash was up 14.9% from the end of March 2012.
Minimum future lease obligations for Spirit's fleet of 49 Airbus A320 family aircraft were up nearly 6% to $1.24 billion in the quarter compared to three months earlier. All of its aircraft are financed through operating leases.
The airline took delivery of four aircraft during the first quarter.
Spirit has no long-term debt obligations.