Spirit touts success of business model despite first-half loss

09/21/2010 | Air Transport World

A five-day pilot strike in June cost Spirit Airlines an estimated $19 million in operating revenue, pushing the discount carrier into the red for the first six months of the year. Spirit revealed its $2.8 million net loss in documents filed in connection with its $300 million initial public offering. Nevertheless, the company noted that its "ultra low-cost structure" produced profits in both 2008 and 2009, when the U.S. airline industry was in a downturn.

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