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4mo ago

Spirit Airlines CEO Resigns Amid Post-Bankruptcy Leadership Shake-Up

Ted Christie steps down unexpectedly, foregoing a $3.8 million retention bonus, as the airline continues its financial recovery and operational restructuring.

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Ted Christie the President and Chief Executive Officer at Spirit Airlines, speaks during the opening ceremony for the new Spirit Central Campus in Dania Beach on Thursday, April 18, 2024. The campus spans more than 11 acres and features four buildings, including a support center with offices, an amenity building, a new crew training facility built for hands-on experience in flight simulators, and a corporate housing facility. (Mike Stocker/South Florida Sun Sentinel)

Overview

  • Spirit Airlines CEO Ted Christie resigned effective immediately, months before qualifying for a $3.8 million retention bonus.
  • The airline emerged from Chapter 11 bankruptcy in March 2025, reducing $795 million in debt and securing a $350 million equity investment.
  • Leadership transitions include the departure of Chief Commercial Officer Matt Klein, replaced by Rana Ghosh, and the establishment of an interim Office of the President.
  • Spirit Airlines continues to face challenges including heightened competition, operational inefficiencies, and evolving consumer preferences affecting its ultra-low-cost model.
  • Failed merger attempts with JetBlue Airways and Frontier Airlines have exacerbated the airline's financial instability in recent years.