Spirit Airlines canceled 768 flights, will lose $25 million thanks to Hurricane Dorian
The company estimates the negative impact from Hurricane Dorian on its third quarter 2019 revenue will be approximately $25 million.
Spirit now estimates its third quarter 2019 total revenue per ASM (“TRASM”) will be down 2.5% to 3.5% year over year.
Prior to the hurricane, the company was expecting its third quarter 2019 TRASM to be down 1.0% to 2.0%, lower than its initial third quarter 2019 guidance primarily due to softer than expected yields in the off-peak period.
For the third quarter 2019, total available seat miles (“ASMs”) are now expected to be up approximately 11.5% year over year.
Adjusted CASM ex-fuel (“CASM ex-fuel”) for the third quarter 2019 is expected to be up 9.0% to 10.0% year over year, an increase of 200 basis points compared to the company’s previous guide.
This increase is entirely attributable to the loss of ASMs and additional costs incurred related to Hurricane Dorian. ■