Spirit Airlines CEO Ted Christie resigns after carrier emerges from bankruptcy 

Ultra-low-cost carrier Spirit Airlines has announced that its President and CEO Ted Christie has resigned from his role less than a month after the airline exited Chapter 11 restructuring. 

In a statement issued on April 7, 2025, the airline confirmed that Chirstie had resigned and said that the Board of Directors is “in the process of appointing a permanent replacement.” 

Until a new CEO is appointed, the company will be led by an interim Office of the President, which includes Executive Vice President and Chief Financial Officer Fred Cromer, Executive Vice President and Chief Operating Officer John Bendoraitis, and Senior Vice President and General Counsel Thomas Canfield. 

“I thank Ted for his tireless efforts over the course of his 13 years at the company,” said Robert Milton, Chairman of Spirit Airlines. “He has seen a lot and done a lot during his tenure here, including navigating the company through the COVID crisis and multiple strategic junctures, as well as most recently, a corporate restructuring.” 

Additionally, the airline announced that Executive Vice President and Chief Commercial Officer Matt Klein will also be leaving his position, with Rana Ghosh stepping in as Senior Vice President and Chief Commercial Officer immediately. 

These leadership changes occur as Spirit Airlines faces ongoing financial difficulties, restructuring efforts, and a recent Chapter 11 bankruptcy filing.  

On March 12, 2025, Spirit announced it had exited Chapter 11 restructuring after a United States court approved its reorganization plan, which included a $350 million equity investment from existing investors. 

In the same announcement, the airline said that Christie will continue to lead the airline as President and CEO, along with its existing executive team. However, the airline added it will have a “reconstituted Board of Directors.” 

According to the US Securities and Exchange Commission (SEC), Spirit granted substantial retention bonuses to its senior executives in November 2024, just six days prior to the announcement of its restructuring and bankruptcy filing.  

The SEC report shows that Christie was awarded a $3.8 million retention bonus. Klein received a retention award of $250,000. However, the SEC report states that if the named executives cease to be actively employed by Spirit prior to one-year anniversary, then they are required to repay to Spirit the gross amount of the retention award within 10 days. The post Spirit Airlines CEO Ted Christie resigns after carrier emerges from bankruptcy  appeared first on AeroTime.

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