Spirit Airlines increases second quarter adjusted net income 35.4%

For the second quarter 2012, Spirit’s total operating revenue was $346.3m, an increase of $70.4m, or 25.5%, compared to second quarter 2011 on a capacity increase of 16.5%. Total revenue per available seat mile increased to 12.25 cents, up 7.7% compared to the second quarter 2011, driven by total operating yields which increased 9.1% year-over-year to 14.44 cents.  Net income, excluding special items, for the second quarter 2012 increased 35.4% to $35.3m as compared to pro forma second quarter 2011 net income. GAAP net income for second quarter 2012 was $34.6m.