Spirit Airlines posts $28.6 million net income for 3rd quarter

Spirit Airlines released that net income for the third quarter was $28.6 million excluding $1.5 million ($0.9 million net of tax) of unrealized fuel hedge losses and special items. GAAP net income was $27.7 million. Operating income was $46.1 million, resulting in a 16.0% operating margin, excluding $1.5 million of unrealized fuel hedge losses and special items. GAAP operating income was $44.6 million for the third quarter 2011, resulting in a 15.4% operating margin. EBITDAR for the third quarter 2011 was $77.4 million, resulting in an EBITDAR margin of 26.8%, excluding unrealized fuel hedge losses and special items. Spirit ended the quarter with $351 million in unrestricted cash.