Fort Lauderdale-based ultra-LCC Spirit Airlines reported a $420.6 million net profit for 2017, a 58.8% increase over a $264.9 million net income in 2016. Spirit cited a one-time, non-cash $199.3 million tax credit courtesy of the late 2017 US tax reform legislation, as part of the reason for the increase. Excluding the tax credit and other special charges, Spirit’s adjusted net income for 2017 came to $230.8 million, down 20.7% from $291 million in adjusted net profit for 2016. ...

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