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Spirit Airlines Investor Relations Material
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Q2 2024
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The Florida-based low-cost airline
Spirit Airlines is a low-cost airline based in Miramar, Florida, with a focus on providing affordable air travel to customers in the United States, the Caribbean, and Latin America. The company was founded in 1980 and has since become one of the largest ultra-low-cost carriers in the world.
The business model
Spirit Airlines' business model is based on providing low fares to its customers by offering a no-frills service that focuses on the essentials of air travel. The company operates a young and fuel-efficient fleet of aircraft, which helps to keep its costs low and its fares affordable.
How Spirit Airlines makes money
Spirit Airlines generates revenue primarily through the sale of airline tickets, as well as through various ancillary services, such as baggage fees, seat selection fees, and onboard purchases. The company's revenue is also generated through its frequent flyer program and partnerships with other travel companies.
The recognizable bright yellow planes
Spirit Airlines has a unique and recognizable branding strategy, which includes bright yellow planes and uniforms for its staff. The company's branding has become synonymous with its low-cost, no-frills approach to air travel, and has helped to differentiate it from other airlines. Some of Spirit Airlines’ competitors include American Airlines, Delta Air Lines, and United Airlines.
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