MIRAMAR, Fla., Feb. 26, 2015 (GLOBE NEWSWIRE) -- Spirit Airlines (Nasdaq:SAVE) has always claimed to be different than other airlines. The Ultra-Low Cost Carrier has now received a respected, independent endorsement that being different makes them one of the best. Air Transport World named Spirit as the Value Airline of the Year at its 41st Annual Industry Achievement Awards ceremony.
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This marks the first time Spirit has received the award. The air carrier known for its crazy low fares, bright yellow planes, and humorous emails has only been operating in the low-cost space since 2007.
"At Spirit we are focused on providing the lowest possible fares to our customers, and that means we do things a little differently," said Ben Baldanza Spirit's President and CEO. "We're honored that ATW recognizes our differences and that you can run a successful airline and not charge high fares."
Spirit provides their customers with a Bare Fare™ and Frill Control™ which lead to the lowest airfares in the industry. According to the Department of Transportation statistics Spirit fares are, on average, 40% lower than other airlines. Even after adding additional items like seat assignments, bags, and refreshments, Spirit's total price is 35% lower.
Spirit has been able to do what other legacy carriers haven't. Because their business model requires a keen focus on operational efficiency, they can offer their customers the lowest fares available and still achieve higher profit margins than any other U.S. based airline. Wall Street is also a fan as Spirit's stock is one of the best performing stocks in the aviation sector.
"We invest heavily in safety and people," added Baldanza. "But what we don't invest in are things that raise ticket prices like multi-million dollar advertising campaigns, multiple-class cabins, and heavy satellite and WiFi equipment which adds a lot more weight to the plane causing inefficient use of fuel. We also don't force our customers to pay for items they may not want in the form of higher priced all-inclusive fares."
"Spirit is changing the way leisure flyers approach air travel," according to an article written in Air Transport World Magazine to announce Spirit's achievement. "For some families, Spirit has provided the first-ever opportunity for them to fly to a vacation destination or to visit relatives rather than spending hours and days on the road."
"Winning this award is a testament to the hard work and dedication of our Spirit Team Members to save our customers money and run a good airline," added Baldanza. "This may be our first time to receive this recognition but we want to win it each and every year."
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 them to pay only for the options they choose - like bags, seat assignments and refreshments – the things other airlines bake right into their ticket prices. Spirit's total price, including options, is nearly 40% lower than other airlines on average.** 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 325 daily flights to 57 destinations in the U.S., Latin America and the Caribbean. Come save with us at www.spirit.com.
** Based on US Department of Transportation data for Spirit and other U.S. airlines for the twelve months ended 6/30/14 adjusted for differences in length of haul.
The photo is also available via AP PhotoExpress.