Spirit Airlines has reported fourth quarter 2020 results. Total operating revenues for the fourth quarter 2020 were US$498.5 million, a decrease of 48.6% year over year as the COVID-19 pandemic continues to severely affect demand for air travel.
For the fourth quarter 2020, total revenue per passenger flight segment decreased 14.5% year over year to US$94.64. Fare revenue per segment decreased 25.6% to US$39.22 while non-ticket revenue per segment only decreased 4.5% to US$55.42.
For the fourth quarter 2020, total GAAP operating expenses were US$658.4 million, a decrease of 22.1% year over year. Adjusted operating expenses for the fourth quarter 2020 were US$659.4 million, a decrease of 21.5% year over year. These changes were primarily driven by a decrease in both fuel rate and volume compared to the fourth quarter last year.
Spirit Airlines ended the fourth-quarter with a net loss of US$157.3 million.
