Florida-based ultra-low-cost carrier Spirit Airlines reported 2016 net profit of $264.9 million, down 16.5% from net income of $317.2 million in 2015. Excluding full-year special charges of $37.2 million related to aircraft lease termination costs, Spirit’s 2106 net income totaled $291 million, down 8% from 2015. Spirit’s 2016 revenue was up 8.4% to $2.3 billion; expenses increased 15.1% to $1.9 billion, producing operating income of $443.7 million, down 12.9% ...

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