Spirit
The airline that made ultra-low-cost flying an American category, and the first US carrier to charge for a carry-on bag.
48 figures on Spirit, drawn from 2 Modern MBA case studies.
The figures
US dollars13
| Against its own chart | |||
|---|---|---|---|
| Gross revenue in billions of dollars, 2023 | $5B | 7th of 8 · top $58B | Why budget airlines stopped winning |
| Ancillary fees earned in billions of dollars, 2023 | $2.2B | 5th of 7 · top $7.9B | Why budget airlines stopped winning |
| Annual revenue from credit cards and mileage sales | $0.1B | 7th of 8 · top $8.2B | Why Asian airlines are so much better |
| Total passenger spend on average between Spirit and Frontier · 2022 | $131.78 | 1st of 4 · top $131.78 | Why budget airlines stopped winning |
| Total passenger spend on average between Spirit and Frontier · 2023 | $121.58 | 2nd of 4 · top $131.78 | Why budget airlines stopped winning |
| Total passenger spend on average between Spirit and Frontier · 2018 | $113.37 | 3rd of 4 · top $131.78 | Why budget airlines stopped winning |
| Total passenger spend on average between Spirit and Frontier · 2019 | $110.91 | 4th of 4 · top $131.78 | Why budget airlines stopped winning |
| Average airfare per passenger · 2011 | $81 | 1st of 6 · top $81 | Why budget airlines stopped winning |
| Average airfare per passenger · 2014 | $80 | 2nd of 6 · top $81 | Why budget airlines stopped winning |
| Average airfare per passenger · 2013 | $79 | 3rd of 6 · top $81 | Why budget airlines stopped winning |
| Average airfare per passenger · 2012 | $75 | 4th of 6 · top $81 | Why budget airlines stopped winning |
| Average airfare per passenger · 2015 | $65 | 5th of 6 · top $81 | Why budget airlines stopped winning |
| Average airfare per passenger · 2016 | $55 | 6th of 6 · top $81 | Why budget airlines stopped winning |
Percentages33
| Against its own chart | |||
|---|---|---|---|
| Load factor, 2023 | 81.3% | 8th of 8 · top 85.0% | Why budget airlines stopped winning |
| Average share of revenue spent on fuel and on labor, 2010 to 2023 · Fuel | 31% | 1st of 8 · top 31% | Why budget airlines stopped winning |
| Average share of revenue spent on fuel and on labor, 2010 to 2023 · Labor | 29% | 4th of 8 · top 40% | Why budget airlines stopped winning |
| Annual operating margin · 2015 | 24% | 1st of 9 · top 24% | Why budget airlines stopped winning |
| Annual operating margin · 2016 | 19% | 2nd of 9 · top 24% | Why budget airlines stopped winning |
| Annual operating margin · 2014 | 18% | 3rd of 9 · top 24% | Why budget airlines stopped winning |
| Annual operating margin · 2013 | 17% | 4th of 9 · top 24% | Why budget airlines stopped winning |
| Average operating margin, 2009 to 2019 | 16% | 1st of 7 · top 16% | Why budget airlines stopped winning |
| Annual operating margin · 2017 | 15% | 5th of 9 · top 24% | Why budget airlines stopped winning |
| Annual operating margin · 2011 | 14% | 6th of 9 · top 24% | Why budget airlines stopped winning |
| Annual operating margin · 2019 | 14% | 6th of 9 · top 24% | Why budget airlines stopped winning |
| Annual operating margin · 2012 | 13% | 8th of 9 · top 24% | Why budget airlines stopped winning |
| Annual operating margin · 2018 | 8% | 9th of 9 · top 24% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2020 | 6% | 1st of 14 · top 6% | Why budget airlines stopped winning |
| US-based airlines by share of the domestic market, 2023 | 5% | 6th of 8 · top 18% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2021 | 5% | 2nd of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2022 | 5% | 2nd of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2023 | 5% | 2nd of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2018 | 4% | 5th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2019 | 4% | 5th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2015 | 3% | 7th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2016 | 3% | 7th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2017 | 3% | 7th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2013 | 2% | 10th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2014 | 2% | 10th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2010 | 1% | 12th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2011 | 1% | 12th of 14 · top 6% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2012 | 1% | 12th of 14 · top 6% | Why budget airlines stopped winning |
| Annual operating margin by carrier | −7% | 7th of 7 · top 10% | Why budget airlines stopped winning |
| Annual operating margin post-COVID · 2023 | −9% | 1st of 4 · worst −27% | Why budget airlines stopped winning |
| Annual operating margin post-COVID · 2021 | −12% | 2nd of 4 · worst −27% | Why budget airlines stopped winning |
| Annual operating margin post-COVID · 2022 | −12% | 2nd of 4 · worst −27% | Why budget airlines stopped winning |
| Annual operating margin post-COVID · 2020 | −27% | 4th of 4 · worst −27% | Why budget airlines stopped winning |
Counts2
| Against its own chart | |||
|---|---|---|---|
| Number of aircraft in fleet, 2023 | 205 | 7th of 8 · top 1,273 | Why budget airlines stopped winning |
| Average price-to-earnings ratio, 2009 to 2019 | 15 | 1st of 7 · top 15 | Why budget airlines stopped winning |
Case studies covering Spirit
Case study — TravelWhy Asian airlines are so much betterAsian carriers deliver a service Americans barely recognize. American airlines earn more doing far less.11 min read
Case study — TravelWhy budget airlines stopped winningThe low-cost carriers say the industry is rigged. It isn't. The legacy carriers just copied the only thing they had.16 min readNew episodes
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