---
schema_version: "secwatch.filing_event.v1"
accession: "0001498710-23-000137"
form_type: "8-K"
ticker: "FLYYQ"
cik: "0001498710"
company_name: "Spirit Aviation Holdings, Inc."
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T12:38:20.874698+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Spirit Airlines Q1 2023 net loss $103.9M; revenue up 39.5%; sees Q2 margin 4.5-6.5%

## Summary
- Net loss of $103.9M ($0.95 diluted EPS loss); adjusted net loss $89.4M ($0.82 adjusted EPS loss).
- Total operating revenues $1.35B, up 39.5% YoY; TRASM up 23.9% on 12.7% more capacity.
- Q2 2023 operating margin guidance 4.5-6.5%; FY2023 capacity growth at lower end of 18-20% due to NEO engine issues and pilot attrition.
- DOJ lawsuit to block JetBlue merger; trial set for October 16, 2023.
- Ended Q1 with $1.7B liquidity; fleet of 195 aircraft, plan to reach 204 by end-2023.

## SEC filing metadata
- accession: 0001498710-23-000137
- form_type: 8-K
- ticker: FLYYQ
- cik: 0001498710
- company_name: Spirit Aviation Holdings, Inc.
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1498710/000149871023000137/0001498710-23-000137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498710/000149871023000137/save-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001498710-23-000137
- JSON: https://secwatch.observer/filing/0001498710-23-000137.json
- Plain text: https://secwatch.observer/filing/0001498710-23-000137.txt

## Key facts
- Earnings Releases
  Spirit Aviation Holdings, Inc. reported first quarter 2023 results: revenue $1,349.8 million, net income $(103.9) million, EPS $(0.95). Guidance lowered.
  - Period: first quarter 2023
  - Revenue: $1,349.8 million
  - Net income: $(103.9) million
  - EPS: $(0.95)
  - Guidance: lowered
  - Result: reported results
  source text: reported first quarter 2023 financial results. First Quarter 2023 (unaudited) As Reported Adjusted 1 Total operating revenues $1,349.8 million $1,349.8 million Operating income (loss) $(112.4) Million $(91.3) Million Operating margin (8.3)% (6.8)% Net income (loss) $(103.9) million $(89.4) million Diluted earnings (loss) per share $(0.95) $(0.82)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000149871023000137/0001498710-23-000137-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.