Spirit Airlines has said that it has amassed earnings ten times the amount experienced in the same period last year.
The Florida-based airline posted earnings of $114 million, more than 10 times the earnings from the year-ago quarter of $11 million.
Total operating revenue for the period was just over $1 billion, gaining 18.9% year-over-year, thanks in part to an 18.4% surge in flight volume.
“Our team once again delivered strong quarterly profits,” Spirit Airlines CEO Ted Christie said. “In the second quarter 2019, we improved our operating margin by 300 basis points and delivered very strong earnings growth.”
Total operating revenue per available seat mile (TRASM) for the second quarter of 2019 increased by 5% compared to the same period last year.
Aircraft fuel expense increased by 7.6% year over year, due to a 15.4% increase in fuel gallons consumed.
Spirit's fleet consists of 135 Airbus aircraft, including two A320s delivered during the second quarter. The carrier expects to take delivery of 10 additional A320neo-family aircraft by the end of 2019, four aircraft in 2020 and nine in 2021.