Spirit Airlines’ 2015 net profit of $317.2 million was up 40.7% over net income of $225.5 million in 2014, but the ultra low-cost carrier’s (ULCC) new CEO acknowledges that operational performance needs to improve. Former AirTran Airways CEO Bob Fornaro took over in January as Florida-based Spirit president and CEO, replacing Ben Baldanza after Spirit’s stock lost half its value in 2015, when it grew capacity 30% year-over-year. Fornaro told analysts during a Feb. 9 ...

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