Spirit Airlines reports fourth quarter and full year 2015 results

Spirit Airlines reported fourth quarter and full year 2015 financial results. Adjusted net income for the fourth quarter 2015 increased 24.9% to US$73.3m compared to the fourth quarter 20141. GAAP net income for the fourth quarter 2015 increased 33.1% year over year to US$74.4m compared to the fourth quarter 2014. Adjusted net income for the full year 2015 increased 33.6% to US$316.2m compared to the full year 20141. GAAP net income for the full year 2015 increased 40.7% year over year to US$317.2m. On a GAAP basis, pre-tax margin for the fourth quarter 2015 increased 390 basis points to 22.7% and for the full year 2015 increased 520 basis points to 23.5%. Spirit ended 2015 with unrestricted cash and cash equivalents of US$803.6m.