Spirit Airlines (SAVE) Guides Q1 RSAM Higher by 0.5% to 1.5%
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Spirit Airlines (NASDAQ: SAVE) today reported its preliminary traffic results for March 2013 and year-to-date 2013. Traffic (revenue passenger miles) in March 2013 increased 19.1 percent versus March 2012 on a capacity (available seat miles) increase of 16.5 percent. Load factor for March 2013 was 87.9 percent, an increase of 2.0 points as compared to March 2012. Spirit's preliminary completion factor for March 2013 was 99.6 percent.
First Quarter 2013 Guidance
The Company estimates its total revenue per ASM (RASM) for the first quarter 2013 increased 0.5 to 1.5 percent year-over-year.
The Company's first quarter 2013 cost per available seat mile (CASM), excluding special items and unrealized mark-to-market hedge gains, is estimated to be between 10.13 cents and 10.18 cents. Spirit estimates its CASM ex-fuel for the first quarter was between 6.02 cents and 6.07 cents. This CASM ex-fuel estimate is an update to the Company's previous guidance range and includes the impact of stronger-than-expected revenue which drove distribution expenses, and adverse weather conditions which resulted in higher than anticipated deicing expenses.
First Quarter 2013 Guidance
The Company estimates its total revenue per ASM (RASM) for the first quarter 2013 increased 0.5 to 1.5 percent year-over-year.
The Company's first quarter 2013 cost per available seat mile (CASM), excluding special items and unrealized mark-to-market hedge gains, is estimated to be between 10.13 cents and 10.18 cents. Spirit estimates its CASM ex-fuel for the first quarter was between 6.02 cents and 6.07 cents. This CASM ex-fuel estimate is an update to the Company's previous guidance range and includes the impact of stronger-than-expected revenue which drove distribution expenses, and adverse weather conditions which resulted in higher than anticipated deicing expenses.
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