Spirit Airlines CEO Ted Christie resigns as company rebrands as premium carrier
Spirit Airlines CEO Ted Christie resigns as company rebrands as premium carrier
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Spirit Airlines comes out of bankruptcy protection
Spirit Airlines announced plans to rebrand as a premium airline after emerging from bankruptcy protection.
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U.S. discount carrier Spirit Airlines SAVEQ.PK said on Monday that CEO Ted Christie has stepped down with immediate effect as part of a shakeup, weeks after the company emerged from bankruptcy and reconstituted its board.
Chief Commercial Officer Matt Klein is also leaving and will be succeeded by insider Rana Ghosh.
The departures come as the carrier works to move away from its no-frills image and rebrand itself as a premium airline.
In case you missed it: 'See-through clothing,' 'offensive' body art can get you kicked off Spirit Airlines
An interim office of the CEO, consisting of Chief Financial Officer Fred Cromer, Chief Operating Officer John Bendoraitis and General Counsel Thomas Canfield, will lead the company until a new chief is named.
Christie joined Spirit in 2012 as its finance chief and took the helm in 2019.
He guided the airline through the pandemic disruptions and a challenging period for low-cost carriers grappling with rising costs and a readiness among travelers to pay extra for a more comfortable journey as they pursued experiences.
The Florida-based carrier filed for bankruptcy protection last November, following years of losses and heavy debt, as well as failed merger attempts.
Spirit had been in merger talks with Frontier Group ULCC.O since at least 2022, but ended them in favor of a more attractive offer from rival JetBlue Airways JBLU.O.
Its merger with JetBlue was ultimately scrapped after a U.S. judge blocked it on anti-competition concerns.
Spirit, which has estimated that shift to premium would generate 13% more revenue per passenger, also plans to revamp its loyalty program and pursue alliances with other carriers.
Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Shilpi Majumdar and Sriraj Kalluvila
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