MIAMI – Spirit Airlines (NK), the eighth-largest commercial airline in North America, yesterday reported its Q4 2020 and Full-Year 2020 results.

Spirit serves destinations in the US, the Caribbean, and Latin America. Branded as an “ultra-low-cost carrier,” the airline operates out of its Fort Lauderdale—Hollywood hub and is headquartered in Miramar (Miami), Fla.

Like the entire commercial aviation industry, the COVID-19 pandemic has wreaked havoc with its 2020 financials. Here are some highlights:

  • Q4 2020 Net Loss – US$157.3m;
  • Q4 Full-Year 2020 Net Loss – US$428,700m;
  • Q4 2020 Earnings Loss Per Share – US$1.61
  • Q4 Full-Year Earnings Loss Per Share – US$5.06

The airline also reported that they took delivery of two new A320neo aircraft in Q4 2020, one of which was debt-financed while the other was financed through a sales/leaseback transaction. At the end of the year, Spirit had 157 aircraft in its fleet.

Spirit Airlines N932NK Airbus A320-271N. Photo: Andrew Henderson/Airways

CEO Comments

In commenting on the 2020 results, Ted Christie, Spirit’s president and chief executive officer said “Soft demand driven by pandemic-related concerns continues to have a significant impact on our operating results.

Christie continued, “However, our leading low-cost structure remains a key advantage and positions us well to compete in this environment and beyond.” Christie added that “While the road to recovery is anticipated to be choppy, we are confident we will be among the first U.S. carriers to return to profitability.”

Featured image: Spirit Airlines N919NK Airbus A320-271neo. Photo: Luca Flores/Airways