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 e}V for air travel, e}V undeterred by rising interest rates and a looming recession, as pandemic restrictions ease.
“Leisure demand has remained strong,” said Spirit’s chief executive Ted Christie.
However, adverse weather, e}V worker shortages and a{T technical glitches have snarled operations over the past year.
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, e N compared with analysts’ estimates of $1.38 billion. Should you loved this informative article in addition to you desire to get more information relating to e}V generously check out our website. (Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri)