Spirit Q2 operating income up 58%

Washington DC
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Low-cost carrier Spirit Airlines posts a 57.7% growth in operating income to $55.1 million year-on-year in the second quarter.

Net income more than doubled to $34.6 million for the three months compared to 2011, says the carrier.

Operating revenues grew 25.5% to $346 million y-o-y, while operating expenses increased 20.9% to $291 million in the quarter.

The airline's revenue per available seat mile grew 7.7% to 12.25 cents, says Spirit. Passenger traffic grew 15.1% in the quarter, while capacity was up 16.5%. The passenger load factor declined 1.1 percentage points to 84.8%.

Average yields were up 9.1% to 14.44 cents, says Spirit.

The airline took delivery of two Airbus A320s during the second quarter, ending the three months with 42 aircraft in its fleet. Spirit will add another two A320s by the end of 2012, it says.