FLYYQ Spirit Aviation Holdings, Inc.

Overview and Growth

In fiscal 2024, Spirit Aviation Holdings, Inc. recorded $4.91B of revenue, net loss of $1.23M, and an operating cash outflow of $758.09M. The $4.91B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $5.36B in fiscal 2023, revenue decreased 8.4%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$11.23, which connects the reported earnings outcome with the company’s diluted share count. A diluted share base of 109.50M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Compared with 109.15M diluted shares in fiscal 2023, the current 109.50M base was 0.3% higher. At period end, total assets were $9.60B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.51x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The reported operating result was an operating loss of $1.11B, reflecting costs that exceeded gross profit. An operating margin of -22.5% reflected costs exceeding revenue-level gross profit by 22.5% of sales. The bottom-line result was a net loss of $1.23M after operating, financing, tax, and other recognized items. Net margin was -0.0%, reflecting a loss equal to 0.0% of reported revenue. The company reported negative EBITDA of $780.11M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The company reported a pretax loss of $1.29B, before the effect of income taxes. Pretax margin was -26.2%, reflecting a pre-tax loss equal to 26.2% of revenue. The company recognized an income-tax benefit of $60.21M, increasing after-tax earnings relative to the pretax result. Relative to total assets, the net loss represented 0.0%. The bottom-line deficit increased from $447.46K in fiscal 2023 to $1.23M.

Liquidity and Capital Structure

With total equity at -$80.13M, the company carried a negative book-capital position, increasing its reliance on liabilities and future earnings. The near-term balance sheet paired $2.11B of current assets with $1.77B of current liabilities at the reporting date. At 1.19x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $902.06M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 51.0%, excluding receivables and other current assets. Total debt was $2.20B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-assets relationship was 22.9%, comparing borrowing with the total asset balance. Book equity represented -0.8% of total assets, quantifying the balance-sheet share supported by shareholder capital. The cash-to-assets relationship was 9.4%, comparing reported cash and equivalents with the full positive asset balance. Compared with $9.42B in fiscal 2023, the current asset base moved 1.9% and finished higher. Book equity was 107.1% lower than fiscal 2023 equity of $1.13B, showing how shareholder capital changed year over year. The reported cash balance changed 4.3% from $865.21M in fiscal 2023, ending higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $758.09M, showing that operations absorbed cash during the period. Cash absorbed by operations increased from $246.66M in fiscal 2023 to $758.09M.

Based on the annual report for the fiscal year ending Dec 31, 2024. Analysis generated Sep 24, 2026.