Item 2.02. Results of Operations and Financial Condition.
On February 5, 2020, Spirit Airlines, Inc. (the "Company" or "Spirit") issued a
press release announcing its unaudited financial results for the fourth quarter
and full year 2019. A copy of the press release is attached hereto as Exhibit
99.1 and is incorporated herein by reference.
Non-GAAP financial measures that reflect adjustments from historical financial
data prepared under GAAP, including adjustments for special items, are included
in the press release as supplemental disclosures because the Company believes
they are useful indicators of the Company's operating performance for
comparative purposes. These non-GAAP financial measures are well recognized
performance measurements in the airline industry that are frequently used by
investors, securities analysts and other interested parties in comparing the
operating performance of companies in the airline industry. The non-GAAP
financial measures provided have limitations as an analytical tool. Because of
these limitations, non-GAAP financial measures should not be considered in
isolation or as a substitute for performance measures calculated in accordance
with GAAP. The Company has also provided in the press release reconciliations of
these non-GAAP financial measures to the appropriate GAAP financial measures.
Item 7.01 Regulation FD Disclosure.
The information in this report furnished pursuant to Item 7.01 shall not be
deemed "filed" for the purposes of Section 18 of the Securities and Exchange Act
of 1934, as amended (the "Exchange Act"), or otherwise subject to the
liabilities of that section. It may only be incorporated by reference in another
filing under the Exchange Act or the Securities Act of 1933, as amended (the
"Securities Act"), if such subsequent filing specifically references the
information furnished pursuant to Item 7.01 of this report.
On February 5, 2020, the Company provided an update to investors regarding the
Company's first quarter and full year 2020 guidance; a copy of which is attached
hereto as Exhibit 99.2 and is incorporated herein by reference. The guidance
provided therein is only an estimate of what the Company believes is realizable
as of the date of this investor update. Actual results may vary from the
guidance and the variations may be material. The Company undertakes no intent or
obligation to publicly update or revise any of these projections, whether as a
result of new information, future events or otherwise, except as required by
law.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following is furnished as an exhibit to this report and shall not be deemed
"filed" for purposes of Section 18 of the Exchange Act:
Exhibit No. Description
Press Release regarding fourth quarter and full year 2019
99.1 financial results.
Investor Update regarding first quarter and full year 2020
99.2 guidance.
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