"Spirit Airlines has announced the resignation of president and CEO Ted Christie amid ongoing financial restructuring and a recent bankruptcy filing."
"The airline emerged from Chapter 11 by reducing approximately $795 million in debt and securing a $350 million equity investment for future growth."
Spirit Airlines' president and CEO Ted Christie has resigned effective immediately, several months before he could receive a $3.8 million retention bonus. This change occurs as the airline experiences financial difficulties, including a recent Chapter 11 bankruptcy filing. Spirit Airlines recently emerged from bankruptcy after reducing its debt by approximately $795 million and gaining a $350 million equity investment. An interim leadership team has been appointed to manage the airline until a permanent successor is found, while the circumstances surrounding Christie's ouster remain unclear.
Read at New York Post
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