Spirit Airlines (SAVE) Sees Q3 TRASM Down ~7%; Updates on Operating Metrics
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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 $51.17 in non-ticket revenue per PFS.
Capacity - Available Seat Miles (ASMs)
Year-over-Year % Change
Adjusted Operating Expense Ex-Fuel per ASM (CASM) (cents)(2)
Average Stage Length (miles)
Fuel Expense ($)
Fuel gallons (millions)
Economic fuel cost per gallon(3)
Selected Operating Expenses ($Millions)
Depreciation and amortization
Interest Expense, net of Capitalized Interest ($Millions)
Interest expense, net of capitalized interest
Effective Tax Rate
Wtd. Average Diluted Share Count (Millions)
Excludes special items which may include loss on disposal of assets and special charges.
Excludes all components of fuel expense, loss on disposal of assets, and special charges.
Includes fuel taxes and into-plane fuel cost.
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