Spirit Airlines posts full year net income of US$264.9m

Spirit Airlines reported fourth quarter and full year 2016 financial results. GAAP net income for the fourth quarter 2016 was US$48.5m or US$53.9m, excluding special items. GAAP net income for the full year 2016 was US$264.9m, or US$291.0m, excluding special items. For the fourth quarter 2016, Spirit’s total operating revenue was US$578.4m, an increase of 11.3% compared to the fourth quarter 2015, driven by a 12.9% increase in flight volume. Spirit ended 2016 with unrestricted cash, cash equivalents, and short-term investments of US$801.1m.