Spirit Airlines reported first-quarter profit above analysts' estimates on Tuesday, as cheap fuel and revenue from bag and other fees added to its bottom line.
The U.S. budget carrier earned $61.9 million in the first quarter. Excluding special items such as lease termination costs, profit rose by 2 percent to $72.3 million, or $1.01 per share, compared with the average analyst estimate of 96 cents, according to Thomson Reuters I/B/E/S.
"The pricing environment remains very competitive, but we aren't just sitting passively by," Chief Executive Bob Fornaro said in a news release. "We have upgraded our pricing systems, made modest revisions to our schedules, and adjusted our approach to inventory management."