Latest news with #TedChristie
Yahoo
16-05-2025
- Business
- Yahoo
Spirit Airlines introduces new seats and ‘comfy' perks in bid for premium passengers
Spirit Airlines will be offering new incentives, including improved seats, in an attempt to lure travelers. The airline's newly announced options offer customers access to seats with extra legroom and a slew of accompanying perks. Spirit previously offered more space to passengers through a 'Go Comfy' option, which blocked off a middle seat in a row of three seats. According to the press release, this option will soon be phased out and replaced with seats with extra legroom. The flight package also includes a carry-on bag, no change or cancel fees, priority boarding, reserved overhead bin space, a snack, and a non-alcoholic beverage in addition to the larger seat. Seven rows toward the front of the plane, totaling more than 40 seats, will have 32 inches of space rather than the customary 28. The new 'Go Comfy' plan will be available for booking Thursday, and travelers will able to start flying in those seats July 9. 'Spirit's new premium options offer travelers exceptional value, and we're creating even more opportunities for Guests to experience them with our new extra-legroom seating option,' Rana Ghosh, Senior Vice President and Chief Commercial Officer at Spirit Airlines, said in a press release. 'We're also adding more value and perks for our loyalty members at a time when others are taking away benefits, giving our most loyal Guests even more reasons to choose Spirit.' Later this year, Spirit will be introducing its two free checked bags policy in collaboration with Bank of America. This will only be available to Free Spirit Travel More Mastercard Cardholders. Other updates to the Spirit Loyalty program include free upgrades to Free Spirit status members and cobranded credit card holders, and points redemption for travel options such as Go Comfy. News of the airline's upgraded perks comes a few weeks after the company emerged from bankruptcy protection. The budget airline said in March that its parent, Spirit Aviation Holdings, exited Chapter 11 after finalizing debt restructuring. The reorganization plan, which received the court's green light in February, aimed to bring the carrier back to profitability and boost resources to compete with rivals. 'We're emerging as a stronger and more focused airline,' CEO Ted Christie, who will continue to lead Spirit post-bankruptcy, said in a statement at the time. The restructuring deal allowed Spirit to convert $795 million of its debt into equity. The company said it also received a $350 million equity investment from existing investors to aid future operations. Sign in to access your portfolio
Miami Herald
13-05-2025
- Business
- Miami Herald
Spirit Airlines just added several new ‘comfy' benefits for travelers
You may not recognize Spirit Airlines. The Broward-based carrier is introducing four extra inches of legroom to an enhanced premium section and new loyalty program benefits, including upgrades. Yes, the same discount airline with bright yellow colors that travelers love to hate, is making it a bit more comfortable and fun to fly. On Tuesday, Spirit announced that it would 're-imagine' its Go Comfy section, turning it into a more traditional premium option, a sign that it intends to compete with bigger airlines. Spirit says it will reconfigure seating to carve out more legroom. The work will start in June and the majority of airplanes will be finished by July, with the remainder done in 2026. Travelers can start booking extra-legroom seats starting May 15, 2025, for travel beginning July 9, the airline said. Other amenities include preferred seating and a free carry-on bag. Route expansions Spirit also said it will offer nonstop flights between Fort Lauderdale-Hollywood International Airport and Savannah, Georgia; Chattanooga, Tennessee; and Columbia, South Carolina. That's important for FLL because Spirit is the top airline at the Broward airport. In March, Spirit accounted for 2.5 million passengers at FLL. While that marked a 12% decline from March 2024, it was by far the top airline with a 28% market share. JetBlue was second with 19%. The moves are the most significant since the airline named a new president and CEO, Dave Davies, who took over on April 21. He replaced longtime President and CEO Ted Christie, who resigned April 7 after successfully leading the company through restructuring. On Feb. 20, the U.S. Bankruptcy Court for the Southern District of New York approved the carrier's plan to continue operating as a business, and cleared bankruptcy shortly after. Davis came from Sun Country Airlines, where he was president and chief financial officer and a member of its board of directors since December 2019. He was credited with helping make it one of the most profitable airlines in the U.S., outperforming Spirit and Frontier. His team at Spirit is wasting no time making changes. 'Spirit's new premium options offer travelers' exceptional value, and we're creating even more opportunities for guests to experience them,' Rana Ghosh, senior vice president and chief commercial officer at Spirit Airlines, said in a statement. 'We're also adding more value and perks for our loyalty members at a time when others are taking away benefits.' Here's a breakdown of the new amenities and benefits: New comforts in Spirit's Go Comfy ▪ Preferred seating includes seven rows near the front of the aircraft and more than 40 seats ▪ In those seats, an extra 4 inches of legroom giving a total of 32 inches ▪ Free carry-on-bag ▪ No change or cancel fees ▪ Priority boarding ▪ Reserved overhead bin space ▪ Snack and non-alcoholic beverage New benefits to Free Spirit loyalty program members and Free Spirit Travel More Mastercard holders ▪ Increased options for redemption including using Free Spirit point for Go Big and Go Comfy ▪ Complimentary upgrades for Free Spirit status members and Free Spirit credit card holders to a Big Front seat and Comfy Seat at boarding, based on availability, extending to one guest on the member's reservation; starting in June ▪ New two free checked bags benefit for Free Spirit Travel More Mastercard holders; to start later in 2025, unspecified month ▪ New Free Spirit debit card will launch this fall; 'will allow anyone to earn Free Spirit points on their everyday spending and redeem those points for travel ... while receiving Group 2 Priority Boarding and a 25% rebate on in-flight purchases' Spirit also said that travelers who earn Free Spirit Gold and Silver Status will continue to enjoy all existing benefits including Shortcut Security and seat selection with no increase in the requirements to earn status for the 2025 program year. Guests with Gold Status will also continue to enjoy free bags, Wi-Fi (subject to availability), complimentary snacks and drinks, including alcohol on eligible flights. More information For more details on the new benefits or information on how to join the loyalty program, go to Spirit's website at
Bloomberg
17-04-2025
- Business
- Bloomberg
Spirit Airlines Names Industry Veteran Dave Davis as CEO
Spirit Airlines Inc. picked an industry veteran to lead the company's transformation to a more upscale carrier after its emergence from bankruptcy. Dave Davis, who until recently was president and chief financial officer at Sun Country Airlines Inc., will take over as chief executive officer and president at Spirit, replacing Ted Christie, who left on April 7. Sun Country is a Minneapolis-based low-fare carrier that makes direct flights mainly to leisure destinations alongside charter and cargo businesses.
USA Today
09-04-2025
- Business
- USA Today
Spirit Airlines CEO Ted Christie resigns as company rebrands as premium carrier
Spirit Airlines CEO Ted Christie resigns as company rebrands as premium carrier Show Caption Hide Caption Spirit Airlines comes out of bankruptcy protection Spirit Airlines announced plans to rebrand as a premium airline after emerging from bankruptcy protection. Cheddar U.S. discount carrier Spirit Airlines 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
Yahoo
14-03-2025
- Business
- Yahoo
Spirit Airlines targets more affluent travelers after emerging from bankruptcy
By Rajesh Kumar Singh (Reuters) -U.S. carrier Spirit Airlines, long known for its no-frills service, said on Wednesday it was pushing ahead with plans to rebrand itself as a premium airline as it emerged from bankruptcy protection after four months. The Florida-based airline - also known for its bright yellow livery - had filed for bankruptcy protection last November, after years of losses, failed merger attempts and heavy debt levels. It was the first major U.S. carrier to file for Chapter 11 since 2011 and it reported a net loss of $1.2 billion last year. As part of its turnaround strategy, the company has said it would shift its focus away from price-conscious customers to more affluent travelers, in a move it estimates would generate 13% more revenue per passenger. To attract customers, the airline plans to redesign its loyalty program and enter into alliances with other carriers. "Today, we're moving forward with our strategy to redefine low-fare travel with our new, high-value travel options," said CEO Ted Christie, who the company said would remain at the helm. The company said the financial restructuring has reduced its debt by about $795 million by converting debt into equity. It also received a $350 million equity investment from existing investors to support its future initiatives. The lower debt and greater financial flexibility have left it better-positioned to return to profitability, Spirit said. The company said its newly issued shares were expected to trade in the over-the-counter marketplace and it aimed to relist on a stock exchange when it was "reasonably practicable." Spirit last month rejected a $2.16 billion bid from Frontier Group, which has made multiple attempts to merge with it, saying the offer was less beneficial to shareholders than its restructuring plan. Spirit's new strategy contrasts with the previous business model that relied on price-sensitive travelers, keeping planes flying more hours in the day and putting more seats on every aircraft. That playbook produced double-digit operating margins for nine straight years until 2020. But the global pandemic changed the operating environment and travel patterns, and Spirit struggled to adapt. Consumer demand has shifted in favor of full-service airlines, with middle- and upper-income households fueling the demand for premium travel while inflation disproportionately hurt lower-income spenders. Spirit hopes the revamp of its offering will allow it to tap more high-spending travelers. The airline is also under pressure from its workers. On Wednesday, Spirit's pilot union asked the company's leadership to communicate a "credible and transparent path" to restoring profitability without hurting the interests of its pilots. Spirit has had to furlough hundreds of pilots as part of its efforts to cut costs and shore up its finances.
