Spirit Airlines' first quarter 2015 net income increases 87.1%

For the first quarter 2015, Spirit’s total operating revenue was US$493.4m, an increase of 12.6% compared to the first quarter 2014, driven by an increase in flight volume. Adjusted net income for the first quarter 2015 increased 87.1% to US$70.7m compared to the first quarter 20141. GAAP net income for the first quarter 2015 increased 83.0% year over year to US$69.0m. Total revenue per available seat mile (“RASM”) for the first quarter 2015 decreased 9.9% compared to the first quarter 2014 on a capacity increase of 25.0%. Spirit ended the first quarter 2015 with an unrestricted cash and cash equivalents balance of US$741.6m.