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 August volatility flat into Q2 and outlook Spirit Airlines August call option implied volatility is at 37, September is at 35; compared to its 52-week range of 26 to 58, suggesting non-directional price movement into the expected release of Q2 results on July 24.