0001498710-13-000004.txt : 20130114 0001498710-13-000004.hdr.sgml : 20130114 20130114073728 ACCESSION NUMBER: 0001498710-13-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130111 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130114 DATE AS OF CHANGE: 20130114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Spirit Airlines, Inc. CENTRAL INDEX KEY: 0001498710 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] IRS NUMBER: 381747023 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35186 FILM NUMBER: 13526651 BUSINESS ADDRESS: STREET 1: 2800 EXECUTIVE WAY CITY: MIRAMAR STATE: FL ZIP: 33025 BUSINESS PHONE: 954-447-7920 MAIL ADDRESS: STREET 1: 2800 EXECUTIVE WAY CITY: MIRAMAR STATE: FL ZIP: 33025 8-K 1 form8-kdecember2012traffic.htm 8-K Form 8-K December 2012 Traffic


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 14, 2013
____________________
SPIRIT AIRLINES, INC.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)

001-35186
(Commission File Number)
38-1747023
(IRS Employer Identification Number)

2800 Executive Way
Miramar, Florida 33025
(Address of principal executive offices, including Zip Code)

(954) 447-7920
(Registrant's telephone number, including area code)
____________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
[]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
[]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
[]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
  






Item 2.02
Results of Operations and Financial Condition.
Item 7.01
Regulation FD
The information in this report furnished pursuant to Item 2.02 and Item 7.01 shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), if such subsequent filing specifically references the information furnished pursuant to Item 2.02 or Item 7.01 of this report.
On January 14, 2013, Spirit Airlines, Inc. reported certain traffic statistics for December 2012 an update regarding the Company's guidance for the fourth quarter 2012.
A copy of Spirit's traffic results is filed as Exhibit 99.1 to this Current Report of Form 8-K and incorporated herein by this reference.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits


Exhibit No.
Description
99.1
December 2012 Traffic Results


Cautionary Note Regarding Forward-Looking Statements

Statements in this current report, including the exhibits furnished herewith,contain various forward-looking statements within the meaning Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. When used in this release, the words “expects,” “estimates,” “plans,” “anticipates,” “indicates,” “believes,” “forecast,” “guidance,” “outlook,” “may,” “will,” “should,” “seeks,” “targets” and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe the Company's objectives, plans or goals, or actions the Company may take in the future, are forward-looking statements. All forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to a number of factors that could cause the Company's actual results to differ materially from the Company's expectations, including the competitive environment in the airline industry; the Company's ability to keep costs low; changes in fuel costs; the impact of worldwide economic conditions on customer travel behavior; the Company's ability to generate non-ticket revenues; and government regulation. Additional information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to the Company's Report on Form 10-K for the year ended December 31, 2011.









SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: January 14, 2013
SPIRIT AIRLINES, INC.


By: /s/ Thomas Canfield    
Name: Thomas Canfield
Title: Senior Vice President and General     Counsel








EXHIBIT INDEX

Exhibit No.
Description
 
 
99.1
December 2012 Traffic Results
 
 
 
 




EX-99.1 2 december2012trafficrelease.htm DECEMBER 2012 TRAFFIC RELEASE December 2012 Traffic Release



    
EXHIBIT 99.1
 

Spirit Airlines Reports December 2012 Traffic

Miramar, Florida (January 14, 2013) - Spirit Airlines (NASDAQ: SAVE) today reported its preliminary traffic results for December 2012 and year-to-date 2012.
Traffic (revenue passenger miles) in December 2012 increased 30.6 percent versus December 2011 on a capacity (available seat miles) increase of 27.6 percent. Load factor for December 2012 was 84.7 percent, an increase of 1.9 points as compared to December 2011. Spirit's preliminary completion factor for December 2012 was 98.3 percent.
The following table summarizes Spirit's traffic results for the month and year-to-date ended December 31, 2012 and 2011.
 
December 2012

December 2011

Change

Revenue passenger miles (RPMs) (000)
895,710
685,830
30.6
 %
Available seat miles (ASMs) (000)
1,057,478
828,785
27.6
 %
Load Factor
84.7
%
82.8
%
1.9 pts

Passenger flight segments
923,862
748,030
23.5
 %
Average stage length (miles)
951

902
5.4
 %
Total departures
6,963
5,949
17.0
 %
 
 
 
 
 
YTD 2012

YTD 2011

Change

Revenue passenger miles (RPMs) (000)
9,663,721
8,006,748
20.7
 %
Available seat miles (ASMs) (000)
11,344,731
9,352,553
21.3
 %
Load Factor
85.2
%
85.6
%
(0.4) pts

Passenger flight segments
10,422,548
8,517,586
22.4
 %
Average stage length (miles)
909
921
(1.3
)%
Total departures
78,582
65,565
19.9
 %
 
Fourth Quarter 2012 Guidance
The Company estimates its total revenue per ASM (RASM) for the fourth quarter 2012 decreased 7 to 8 percent year-over-year.

Hurricane Sandy reduced fourth quarter revenue by approximately $25 million and reduced total RASM year-over-year by approximately 6.5 percentage points. The revenue impact from Hurricane Sandy was less than previously estimated primarily due to a stronger-than-anticipated recovery in demand for the month of December.

The Company's fourth quarter 2012 cost per available seat mile (CASM), excluding special items and unrealized mark-to-market hedge gains, is estimated to be between 10.00 cents and 10.05 cents. Spirit estimates its CASM ex-fuel for the quarter was between 5.90 cents and 5.95 cents, which is in line with the Company's previous guidance.



1




The following table summarizes Spirit's updated guidance for the fourth quarter 2012. All data is based on preliminary estimates and is subject to change. Spirit plans to announce fourth quarter 2012 results on February 26, 2013.

 
 
4Q12E
 
 
Total revenue per ASM (RASM) year-over-year % change
(7%) to (8%)
 
 
 
 
Operating Expense per ASM (CASM) (cents)
 
 
 
CASM (1)
9.99

 
10.04
Less: Unrealized mark-to-market gains per ASM (2)
(0.01)
CASM excluding unrealized mark-to-market gains
10.00

-
10.05
Less: Economic fuel expense per ASM (3)
4.10
CASM ex-fuel
5.90

-
5.95
 
 
 
 
 
 
 
 
 
 
Fuel Expense per Gallon($)
 
 
 
Fuel cost
$3.29
Less: Unrealized mark-to-market gains (2)
($0.02)
Economic fuel cost (3)
$3.31
 
 
 
 
 
Fuel gallons (thousands)
36,670
 
 
 
 
 
Effective Tax Rate
38%
 
 
 
 
 
Wtd. Average Share Count (thousands)
 
 
 
Basic
72,442
Diluted
72,608





Footnotes
(1)
Excludes special items.
(2)
Unrealized mark-to-market gains are comprised of estimated non-cash adjustments to aircraft fuel expense.
(3)
Includes fuel taxes, into-plane fuel cost, and fuel hedge gains currently expected to be realized during the fourth quarter 2012.


About Spirit Airlines
Spirit Airlines (NASDAQ: SAVE) empowers customers to save money on air travel by offering ultra low base fares with a range of optional services for a fee, allowing customers the freedom to choose only the extras they value. This innovative approach grows the traveling market and stimulates new economic activity while creating new jobs. Spirit's modern fleet, configuration and other innovations enable Spirit to burn less fuel per seat than competitors, making Spirit one of the most environmentally-friendly US carriers. Spirit's all-Airbus fleet currently operates more than 200 daily flights to over 50 destinations within the U.S., Latin America and Caribbean. Visit Spirit at www.spirit.com.


2





Forward-Looking Statements
Statements in this release contain various forward-looking statements within the meaning Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. When used in this release, the words “expects,” “estimates,” “plans,” “anticipates,” “indicates,” “believes,” “forecast,” “guidance,” “outlook,” “may,” “will,” “should,” “seeks,” “targets” and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe the Company's objectives, plans or goals, or actions the Company may take in the future, are forward-looking statements. Forward-looking statements include, without limitation, statements regarding the Company's guidance and estimates for fourth quarter 2012, including expectations regarding revenue, RASM, load factor, capacity, CASM, CASM ex-fuel, fuel expense, economic fuel cost, and expected unrealized mark-to-market fuel hedge gains or losses. All forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to a number of factors that could cause the Company's actual results to differ materially from the Company's expectations, including the competitive environment in the airline industry; the Company's ability to keep costs low; changes in fuel costs; the impact of worldwide economic conditions on customer travel behavior; the Company's ability to generate non-ticket revenues; and government regulation. Additional information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2011.

###



Investor Relations Contact:
DeAnne Gabel
Director, Investor Relations
InvestorRelations@spirit.com
954-447-7920

Media Contacts:
Misty Pinson
Director, Corporate Communications
misty.pinson@spirit.com
954-628-4827/cell 954-918-9432

Manuel Jaquez
Senior Manager Commercial - Latin America
manuel.jaquez@spirit.com
954-628-4898




3
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