Spirit Airlines surged nearly 30% in 2018 to emerge as the best-performing airline stock for 2018 when many of its competitors tumbled. Referred by many as the no-frills airline, SAVE gave its investors a pleasant surprise in 2018 after its shares hit more than three-year high in early December, and now the company is worth around $3.8 billion after the year's gains.
The company revealed that it grew its profit during the fourth quarter and has given a positive forecast looking ahead. But perhaps the biggest contributor to the turnaround was remaking its image as a reliable, on-time flight operator. According to government data, Spirit was remarkably on time in 2018, with nearly 81% of its flights reached on time -- a stark turnaround from previous years and also outpacing close rivals American Airlines Group Inc. (AAL) and United Continental Holdings Inc. (UAL).