Spirit Airlines’ CEO Is Stepping Down
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
Spirit Airlines‘ CEO will step down from his position in 2019, the ultra low-cost carrier said on Wednesday. Effective 2019, Robert Fornaro, who took over just last year, will hand over the company’s top position to current Chief Financial Officer Ted Christie.
As reported by Bloomberg, on January 1, 2019, Fornaro will step down and Christie will take over. In the interim, Christie will become president of the airline and will join its board beginning in 2018.
“Over the past two years as CEO, Bob has led a real transformation at Spirit, driving dramatic improvements in operational reliability and in the customer experience while strengthening our executive team,” said Spirit Chairman Mac Gardner. “He has also provided nimble, experienced leadership through a volatile competitive environment.”
In the past few months, Spirit has made a concerted effort to become a more passenger-friendly airline — especially when it comes to its notorious fee structure and abysmal on-time performance. In November, the carrier added new bundle options for passengers to avoid paying out-of-pocket fees when they get to the airport. In addition, in September, the carrier didn’t rank last in on-time arrivals, a spot that JetBlue took. However, the carrier still struggles mightily with cancellations, bumped passengers and customer complaints.
Since Fornaro took over as the company’s head last year, Spirit has had its ups and downs. Most recently, it has struggled to remain competitive with legacy carriers as they’ve introduced new basic economy fare classes. On July 27, Spirit’s shares fell 18%, which was the biggest drop in a day for the stock since May 2011.
Christie, 47, has been with the company since 2012. The soon-to-be-chief comes from a history of commercial airline work with both Pinnacle Airlines and Spirit’s ultra low-cost competitor, Frontier.
“With our improved operations, balanced growth and stable costs, I’m confident we will strengthen our position as the leading ultra low-cost carrier in the Americas,” Christie said.
Welcome to The Points Guy!
Earn 50,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new card in the first three months of card membership. Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants in the first three months of card membership.
With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.
- Earn 50,000 Bonus Miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new Card in your first 3 months.
- Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants with your card within the first 3 months of membership.
- Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
- Earn 3X Miles on Delta purchases and purchases made directly with hotels.
- Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
- Earn 1X Miles on all other eligible purchases.
- Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
- Enjoy your first checked bag free on Delta flights.
- Fee Credit for Global Entry or TSA Pre✓®.
- Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
- No Foreign Transaction Fees.
- $250 Annual Fee.
- Terms Apply.
- See Rates & Fees