Spirit Airlines beats estimates on strong travel demand

Feb 6 (Reuters) – 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.

Shares of Spirit rose over 7% to $21 in aftermarket trade.

U.S.airlines have been trying to cash in on strong demand for air travel, undeterred by rising interest rates and EVDeN eVe NaKliyaT a looming recession, EVDEn evE naKliyAt as pandemic restrictions ease.

“Leisure demand has remained strong,” said Spirit’s chief executive Ted Christie.

However, evdeN eve nAkLiyat adverse weather, worker shortages and technical glitches have snarled operations over the past year.

Spirit earned $0.12 per share on an adjusted basis, eVDEn eve nAkLiyat 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. If you beloved this article and you would like to obtain more info with regards to evDen evE NakLiYat nicely visit the site. (Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri)