Ultra low-cost carrier Spirit Airlines Inc posted better-than-expected quarterly results on Monday, fueled by strong demand for air travel despite ongoing economic concerns.
A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. REUTERS/Regis Duvignauposted better-than-expected quarterly results on Monday, fueled by strong demand for air travel despite ongoing economic concerns.U.S. airlines have been trying to cash in on strong demand for air travel, undeterred by rising interest rates and a looming recession, as pandemic restrictions ease.
Spirit earned $0.12 per share on an adjusted basis, above analyst estimates of $0.04 per share, according to Refinitiv data. The Miramar, Florida-based airline's total operating revenue in the quarter rose nearly 41% to $1.39 billion, compared with analysts' estimates of $1.38 billion.
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