Spirit Airlines Reports First Quarter Operating Profit.

Business Editors/Travel Writers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 29, 2004

Spirit Airlines, the largest privately-held carrier in the U.S., reports an operating profit of $2.6 million for the first quarter of 2004.

Spirit served more than 1.2 million passengers in the first three months of this year, a record for the airline. During the 1st quarter of 2004, Spirit announced an investment of $125 million from Oaktree Capital Management as well as an aircraft order for 35 new Airbus aircraft with options to purchase 50 more.

"This has been a busy and exciting 1st quarter for us and the results speak for themselves with year over year improvements in all metrics including profitability," said Jacob Schorr, President and CEO of Spirit Airlines. "Customers have responded to our low fares and industry leading service. By controlling our costs, we are able to maintain our profitability even in this very competitive environment and provide our customers with real value as a result."

-- 1st quarter revenues reached $131.1 million, an increase of

11% when compared to the same period last year.

-- Available seat miles reached 1,612,387,350 an increase of 5%

over 1st quarter '03.

-- 1st quarter revenue passenger miles reached 1,253,518, 000 an

increase of 7.5 % over the same period last year.

-- Spirit Airlines operates on one of the lowest operating costs 

per available seat mile (CASM). Spirit's CASM was 7.97 cents

for the quarter. Excluding fuel costs CASM was 5.91 cents.

-- In 2003, Spirit had the 2nd highest load factor of any U.S.

airline.

-- During the past five years, the airline doubled its revenues

to more than $450 million in 2003. During this period of

extraordinary growth, Spirit made significant investments in

its systems, technology, product and brand, all focused on

improving customer service and satisfaction.

-- Chosen by South Florida Business Journal as 2004 Business of

the Year.

About Spirit Airlines - Quick Facts

-- Headquartered in Fort Lauderdale, Fla.

-- Founded in 1990 in Eastpointe, Michigan

-- Spirit Airlines is the largest privately-held airline in the

U.S.

-- Ranks as the 16th largest airline in the U.S.

-- 125 flights daily to 16 cities

-- 2,700 employees nationwide

-- Spirit's website is http://www.spiritair.com

Headquartered in Fort Lauderdale, Fla., 13 year old Spirit Airlines is the largest privately-held airline in the U.S. Spirit brings low fares and friendly service to 16 cities, including: Atlantic City, N.J., Cancun, Mexico, Chicago/O'Hare, Denver, Detroit, Las Vegas, Los Angeles, Myrtle Beach, S.C., New York/LaGuardia, San Juan, Puerto Rico, Washington, D.C., the Florida cities of Fort Lauderdale, Fort Myers, Orlando, Tampa and seasonal service to West Palm Beach. Spirit's website is http://www.spiritair.com.