Spirit Airlines 2015 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2015 Spirit Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 105

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105

6
Experienced International Operator. We believe we have substantial experience in foreign local aviation, security and
customs regulations, local ground operations and flight crew training required for successful international and overwater flight
operations. All of our aircraft are certified for overwater operations. We believe we compete favorably against other low-cost
carriers because we have been conducting international flight operations since 2003 and have developed substantial experience
in complying with the various regulations and business practices in the international markets we serve. During 2015, 2014 and
2013, no revenue from any one foreign country represented greater than 4% of the our total passenger revenue. We attribute
operating revenues by geographic region based upon the origin and destination of each passenger flight segment.
Financial Strength Achieved with Focus on Cost Discipline. We believe our ULCC business model has delivered strong
financial results in both favorable and more difficult economic times. We have generated these results by:
• keeping a consistent focus on maintaining low unit operating costs;
• ensuring our sourcing arrangements with key third parties are regularly benchmarked against the best industry
standards;
• generating and maintaining an adequate level of liquidity to insulate against volatility in key cost inputs, such as fuel,
and in passenger demand that may occur as a result of changing general economic conditions.
Route Network
As of December 31, 2015, our route network included 191 markets served by 56 airports throughout North America,
Central America, South America and the Caribbean.
Below is a route map of our current network, which includes seasonal routes and routes announced as of February 8,
2016 for which service has not yet started: