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Spirit Airlines Announces $100 Million Share Buyback Authorization

MIRAMAR, Fla., Dec. 17, 2014 (GLOBE NEWSWIRE) -- Spirit Airlines (Nasdaq:SAVE) announced today that its Board of Directors had authorized the repurchase of up to $100 million in aggregate value of shares of its Common Stock, par value $0.0001 per share, from time to time in open market or privately negotiated transactions over the twelve months ending December 16, 2015. The timing and amount of any stock repurchases will be subject to prevailing market conditions and other considerations.

About Spirit Airlines:

Spirit Airlines (Nasdaq:SAVE) is committed to offering the lowest total price to the places we fly, on average much lower than other airlines. Our customers start with an unbundled, stripped-down Bare Fare™ and get Frill Control™ which allows customers to pay only for the options they choose - like bags, seat assignments and refreshments - the things other airlines bake right into their ticket prices. We help people save money and travel more often, create new jobs and stimulate business growth in the communities we serve. With our modern and fuel-efficient all-Airbus fleet, we operate more than 300 daily flights to 57 destinations in the U.S., Latin America and the Caribbean. Come save with us at www.spirit.com.

Forward-Looking Statements

Statements in this release and certain oral statements made from time to time by representatives of the Company contain various forward-looking statements within the meaning Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. When used in this release, the words "expects," "estimates," "plans," "anticipates," "indicates," "believes," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "targets" and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe the Company's objectives, plans or goals, actions the Company may take in the future, or statements regarding the share repurchase program, are forward-looking statements. All forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company has no intent, nor undertakes any 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. Forward-looking statements are subject to a number of factors that could cause the Company's actual results to differ materially from the Company's expectations, including capital markets conditions; the competitive environment in the airline industry; the Company's ability to keep costs low; changes in fuel costs; the impact of worldwide economic conditions on customer travel behavior; the Company's ability to generate non-ticket revenues; and government regulation. Additional information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

CONTACT: Investor Relations Contact: DeAnne Gabel InvestorRelations@Spirit.com (954) 447-7920 Media Contact: Paul Berry Paul.Berry@Spirit.com (954) 628-4827

Source:Spirit Airlines