Spirit Airlines sees Q4 total revenue per ASM down 7%-8% Hurricane Sandy reduced fourth quarter revenue by approximately $25M 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, excluding special items and unrealized mark-to-market hedge gains, is estimated to be between 10c-10.05c. Spirit estimates its CASM ex-fuel for the quarter was between 5.9c-5.95c.
Spirit Airlines volatility spikes as shares sell off Spirit Airlines October call option implied volatility is at 66, September, November is at 68, December is at 59; compared to its 26-week average of 35 according to Track Data, suggesting large price movement.