Spirit Airlines (Spirit Airlines) Interest Expense

: $-130 Mil (TTM As of Dec. 2023)

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Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Spirit Airlines's interest expense for the three months ended in Dec. 2023 was $ -30 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-130 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Spirit Airlines's Operating Income for the three months ended in Dec. 2023 was $ -163 Mil. Spirit Airlines's Interest Expense for the three months ended in Dec. 2023 was $ -30 Mil. Spirit Airlines did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Spirit Airlines Interest Expense Historical Data

The historical data trend for Spirit Airlines's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Spirit Airlines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

-88.88

-118.53

-121.09

-100.79

-122.50

Spirit Airlines Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense																-28.96	-39.75	-30.26	-29.89	-29.65

Spirit Airlines Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-130 Mil.

Spirit Airlines (NYSE:SAVE) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Spirit Airlines's Interest Expense for the three months ended in Dec. 2023 was $-30 Mil. Its Operating Income for the three months ended in Dec. 2023 was $-163 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $6,354 Mil.

Spirit Airlines's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Spirit Airlines did not have earnings to cover the interest expense.

The higher the ratio, the stronger the company's financial strength is.

Spirit Airlines (Spirit Airlines) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Spirit Airlines Inc (NYSE:SAVE) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

SAVE:Mexico S64:Germany S64:Germany

Address

2800 Executive Way, Miramar, FL, USA, 33025

Website

https://www.spirit.com

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

Executives

Rocky Wiggins	officer: SVP and CIO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Melinda C Grindle	officer: SVP & CHRO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Robert D Johnson	director	HONEYWELL, 1944 E SKY HARBOR CIRCLE, PHOENIX AZ 85034
Brian J. Mcmenamy	officer: VP & Controller	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Laurie Villa	officer: SVP and CHRO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
John A. Bendoraitis	officer: EVP and COO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Thomas C Canfield	officer: SVP, GC & Secretary	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Kevin Blake Vanier	officer: VP of FP & A	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Christine P Richards	director	942 SOUTH SHADY GROVE ROAD, MEMPHIS TN 38120
Mark B Dunkerley	director
H. Mcintyre Gardner	director	C/O SPIRIT AIRLINES, 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Christie Edward M Iii	officer: Chief Financial Officer	S/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Robert L Fornaro	director	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Matthew H Klein	officer: SVP and CCO	C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Dawn M. Zier	director	600 OFFICE CENTER DRIVE, FORT WASHINGTON PA 19034