Overview

• Dave Davis, previously CFO at Sun Country Airlines, has been named Spirit Airlines' new CEO, effective April 21.
• Spirit Airlines recently completed its Chapter 11 bankruptcy reorganization, which involved debt restructuring, layoffs, and asset sales.
• Davis’s leadership will focus on rebranding Spirit from an ultra-low-cost carrier to a more premium airline to attract higher-paying customers.
• His contract includes a $950,000 annual salary, a $4 million signing bonus, and performance incentives up to 250% of his base salary.
• Sun Country Airlines confirmed its stability despite the departures of CFO Davis and COO Gregory Mays, who also announced his exit.