Spirit Airlines CEO steps down weeks after carrier exits bankruptcy
(Reuters) -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.
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The departures come as the carrier works to move away from its no-frills image and rebrand itself as a premium airline.
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.
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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.
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Spirit had been in merger talks with Frontier Group since at least 2022, but ended them in favor of a more attractive offer from rival JetBlue Airways.
Its merger with JetBlue was ultimately scrapped after a U.S. judge blocked it on anti-competition concerns.
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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)
