Modern MBA

Data

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$5B7th of 8 · top $58BWhy budget airlines stopped winning
Ancillary fees earned in billions of dollars, 2023$2.2B5th of 7 · top $7.9BWhy budget airlines stopped winning
Annual revenue from credit cards and mileage sales$0.1B7th of 8 · top $8.2BWhy Asian airlines are so much better
Total passenger spend on average between Spirit and Frontier · 2022$131.781st of 4 · top $131.78Why budget airlines stopped winning
Total passenger spend on average between Spirit and Frontier · 2023$121.582nd of 4 · top $131.78Why budget airlines stopped winning
Total passenger spend on average between Spirit and Frontier · 2018$113.373rd of 4 · top $131.78Why budget airlines stopped winning
Total passenger spend on average between Spirit and Frontier · 2019$110.914th of 4 · top $131.78Why budget airlines stopped winning
Average airfare per passenger · 2011$811st of 6 · top $81Why budget airlines stopped winning
Average airfare per passenger · 2014$802nd of 6 · top $81Why budget airlines stopped winning
Average airfare per passenger · 2013$793rd of 6 · top $81Why budget airlines stopped winning
Average airfare per passenger · 2012$754th of 6 · top $81Why budget airlines stopped winning
Average airfare per passenger · 2015$655th of 6 · top $81Why budget airlines stopped winning
Average airfare per passenger · 2016$556th of 6 · top $81Why budget airlines stopped winning

Percentages33

Against its own chart
Load factor, 202381.3%8th of 8 · top 85.0%Why budget airlines stopped winning
Average share of revenue spent on fuel and on labor, 2010 to 2023 · Fuel31%1st of 8 · top 31%Why budget airlines stopped winning
Average share of revenue spent on fuel and on labor, 2010 to 2023 · Labor29%4th of 8 · top 40%Why budget airlines stopped winning
Annual operating margin · 201524%1st of 9 · top 24%Why budget airlines stopped winning
Annual operating margin · 201619%2nd of 9 · top 24%Why budget airlines stopped winning
Annual operating margin · 201418%3rd of 9 · top 24%Why budget airlines stopped winning
Annual operating margin · 201317%4th of 9 · top 24%Why budget airlines stopped winning
Average operating margin, 2009 to 201916%1st of 7 · top 16%Why budget airlines stopped winning
Annual operating margin · 201715%5th of 9 · top 24%Why budget airlines stopped winning
Annual operating margin · 201114%6th of 9 · top 24%Why budget airlines stopped winning
Annual operating margin · 201914%6th of 9 · top 24%Why budget airlines stopped winning
Annual operating margin · 201213%8th of 9 · top 24%Why budget airlines stopped winning
Annual operating margin · 20188%9th of 9 · top 24%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20206%1st of 14 · top 6%Why budget airlines stopped winning
US-based airlines by share of the domestic market, 20235%6th of 8 · top 18%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20215%2nd of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20225%2nd of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20235%2nd of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20184%5th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20194%5th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20153%7th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20163%7th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20173%7th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20132%10th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20142%10th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20101%12th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20111%12th of 14 · top 6%Why budget airlines stopped winning
Domestic market share of the two ultra-low-cost carriers · 20121%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, 20232057th of 8 · top 1,273Why budget airlines stopped winning
Average price-to-earnings ratio, 2009 to 2019151st of 7 · top 15Why 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 readCase 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 read