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spirit Investor Relations Contact : Investor Relations Investorrelations@spirit.com ( 954 ) 447-7920 Media Contact : Spirit Media Relations media relations@spirit.com ( 954 ) 364-0231 EXHIBIT 99.1 Spirit Airlines Reports First Quarter 2021 Results MIRAMAR , Fla . , April 21 , 2021 - Spirit Airlines , Inc. ( NYSE : SAVE ) today reported first quarter 2021 financial results . Ended the first quarter 2021 with $ 1.9 billion of unrestricted cash , cash equivalents , short - term investment securities and liquidity available under the Company's revolving credit facility Total Operating Revenues EBITDA First Quarter 2021 As Reported First Quarter 2020 As Reported ( GAAP ) $ 771.1 million $ 8.0 million Adjusted ( non - GAAP ) 1 $ 771.1 million $ 8.0 million EBITDA Margin Pre - tax Income ( Loss ) ( GAAP ) $ 461.3 million $ ( 28.2 ) million ( 6.1 ) % $ ( 138.2 ) million Adjusted ( non - GAAP ) 1 $ 461.3 million $ ( 199.7 ) million ( 43.3 ) % $ ( 307.9 ) million 1.0 % 1.0 % $ ( 74.6 ) million $ ( 74.6 ) million Net Income ( Loss ) $ ( 112.3 ) million Diluted Earnings ( Loss ) Per Share $ ( 1.15 ) $ ( 242.5 ) million $ ( 2.48 ) $ ( 27.8 ) million $ ( 0.41 ) $ ( 58.9 ) million $ ( 0.86 ) " We were very pleased to see how well both our domestic and international network performed as demand strengthened in the last few weeks of the quarter . This strength , along with improvement in forward bookings , drove positive cash from operations for the full first quarter 2021 even when excluding the payroll support program funds received . Assuming these trends continue , we believe we can achieve a positive Adjusted EBITDA margin for the full year 2021 , " said Ted Christie , Spirit's President and Chief Executive Officer . " While acknowledging that the recovery is still in progress and may not be linear , we continue to believe we will be among the first U.S. carriers to reach sustained profitability . ” COVID - 19 Since its initial onset in early 2020 , the impact of the COVID - 19 pandemic has evolved and continues to be fluid . Therefore , the Company's financial and operational outlook remains subject to change . The Company continues to monitor the impact of the pandemic on its operations and financial condition , and to adjust its mitigation and operational strategies , accordingly , in order to protect the long - term sustainability and growth of the Company . Spirit has implemented measures for the safety of its Guests and Team Members as well as to mitigate the impact of COVID - 19 on its financial position and operations . Please see the Company's Quarterly Report on Form 10 - Q for the period ending March 31 , 2021 for additional disclosures regarding these measures . Capacity and Operations Load factor for the first quarter 2021 was 72.1 percent on a year - over - year capacity decrease of 26.9 percent . During the first quarter 2021 , the U.S. government implemented negative COVID - 19 testing requirements for all inbound international travelers entering the United States . About 12 percent of Spirit's first quarter 2021 capacity was negatively impacted by this new regulation . 1