Spirit Airlines CEO Ted Christie resigns as company rebrands as premium carrier
Show Caption
Hide Caption
Spirit Airlines comes out of bankruptcy protection
Spirit Airlines announced plans to rebrand as a premium airline after emerging from bankruptcy protection.
Cheddar
U.S. discount carrier Spirit Airlines SAVEQ.PK said on Monday that CEO Ted Christie has stepped down with immediate effect as part of a shakeup, weeks after the company emerged from bankruptcy and reconstituted its board.
Chief Commercial Officer Matt Klein is also leaving and will be succeeded by insider Rana Ghosh.
The departures come as the carrier works to move away from its no-frills image and rebrand itself as a premium airline.
In case you missed it: 'See-through clothing,' 'offensive' body art can get you kicked off Spirit Airlines
An interim office of the CEO, consisting of Chief Financial Officer Fred Cromer, Chief Operating Officer John Bendoraitis and General Counsel Thomas Canfield, will lead the company until a new chief is named.
Christie joined Spirit in 2012 as its finance chief and took the helm in 2019.
He guided the airline through the pandemic disruptions and a challenging period for low-cost carriers grappling with rising costs and a readiness among travelers to pay extra for a more comfortable journey as they pursued experiences.
The Florida-based carrier filed for bankruptcy protection last November, following years of losses and heavy debt, as well as failed merger attempts.
Spirit had been in merger talks with Frontier Group ULCC.O since at least 2022, but ended them in favor of a more attractive offer from rival JetBlue Airways JBLU.O.
Its merger with JetBlue was ultimately scrapped after a U.S. judge blocked it on anti-competition concerns.
Spirit, which has estimated that shift to premium would generate 13% more revenue per passenger, also plans to revamp its loyalty program and pursue alliances with other carriers.
Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Shilpi Majumdar and Sriraj Kalluvila
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
5 minutes ago
- Business Insider
A 'seismic' 39% tariff on Switzerland is rocking the watch world, and even pre-owned Rolexes could see price hikes
Watch collectors might want to skip the Rolex boutique and head straight for the pawn shop this year. That is, if the Trump administration's new 39% tariff on goods from Switzerland sticks. The White House released updated tariff plans on Thursday, raising the rate from the proposed 31% announced earlier this year. The tariff escalation caught the watch community off guard. Switzerland is a manufacturing hub for luxury watches like Rolex and Cartier. Eugene Tutunikov, CEO of watch marketplace Swiss Watch Expo, told Business Insider the announcement "was a complete shock" and that "its effects will be immediate." Leading brands, including Rolex, have already raised prices in the US this year, likely in response to tariffs, Morgan Stanley analysts wrote in a July report about the Swiss watch market. US imports of Swiss goods have faced a 10% baseline tariff since April. A new 39% tariff on Swiss imports to the US would put more pressure on luxury watchmakers. That could lead to higher prices on Swiss-made goods shipped to the US, or less inventory for American shoppers. While the Swiss government could still try to negotiate, the tariff is currently set to take effect on August 7. Collectors and watchmakers may soon have to reckon with this new reality. Joshua Ganjei, CEO of watch marketplace European Watch Company, thinks more shoppers will turn to pre-owned models of high-end watches like Rolexes over brand-new ones. After all, a secondhand watch from a US-based seller won't face the added cost of a new Swiss-made model shipped from overseas. "For many American collectors, the 39% tariff instantly turned new releases from Swiss brands into a luxury few can justify," Ganjei said. According to the Morgan Stanley report, pre-owned watch dealers have reported an increase in demand this year since Swiss-made brands began raising their prices in the US. Prices in the secondhand market have been falling since mid-2022, though the rate of decline has narrowed. Pre-owned watches could also get more expensive, though. While the inventory already in the US won't face tariffs, heightened demand could drive up prices on the secondary market as well. Tutunikov said he thinks the pre-owned market will react to higher tariffs "much faster" than large retailers and hike prices sooner. He expects prices on the secondary market to jump as much as 10% in the next month and potentially reach up to 35% in the next six months, "as demand overwhelmingly shifts to available inventory." "This isn't just a tax; it's a seismic event that will cause a stark divergence between the new and pre-owned markets," Tutunikov said.
Business Upturn
8 minutes ago
- Business Upturn
Nibe secures Rs 6.12 crore defence order from Israel's Elbit Systems Land
By Aman Shukla Published on August 2, 2025, 13:43 IST Nibe Limited has announced the receipt of a significant international order from Elbit Systems Land Ltd, a renowned Israel-based defence technology company. Under the terms of the agreement, Nibe will manufacture and supply parts for the GATR 70mm Guided Rocket (10km range), with the total contract valued at USD 700,000, approximately ₹6.12 crore. The order, which falls under the purview of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is scheduled for completion by September 2026. This marks a key milestone for Nibe Limited in the global defence manufacturing sector and highlights its growing presence in international markets. This development reflects Nibe's increasing capabilities in high-precision manufacturing for defence applications and opens new avenues for future international collaborations. The company continues to focus on delivering high-quality components aligned with global defence standards. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
30 minutes ago
- Yahoo
9 best bars to watch sunset in Port St. Lucie, Vero Beach, Fort Pierce, Stuart, Sebastian
Treasure Coast sunsets are a truly magnificent sight to see. The sky becomes a canvas of red, pink, orange and purple, reflecting on the water and lingering after the sun is below the horizon. Palm trees, spoil island and docks become silhouettes, creating a visually striking contrast with a tangible ambiance that sets the mood for the rest of the night. Bars that offer patrons a place to experience these captivating skies are popular in Florida for a good reason. Here are some sunset bars and restaurants, one in each Treasure Coast city where applicable, including some that are less-obvious choices than your tried-and-true favorite. INDIAN RIVER COUNTY Earl's Hideaway Lounge, Sebastian The ex-biker bar off of Indian River Drive is across the street from the river and has an unobstructed view of the sunset. It was opened in 1950 by Earl Roberts and now has a relaxed, inviting environment where all are welcome. This iconic open-air restaurant and bar features a tiki bar with sand and Adirondack chairs, live music and pool tables. Along with its cold beer and mixed drinks, it also offers burgers, Philly cheesesteak, wings, coconut shrimp and fish and chips for lunch, as well as New York-style pizza, strombolis, calzones and meatballs starting later in the day. 1405 Indian River Drive, Sebastian; 772-589-5700; website Staff Pick: Earl's Hideaway Lounge in Sebastian is the place for your big New York slice Riverside Cafe, Vero Beach Located under the Merrill P. Barber Bridge in Central Beach, the riverfront restaurant and bar offers a stunning view of the sunset. The dock-and-dine establishment also is next to the Vero Beach City Marina with sailboats moored nearby in the water off the dock. It has numerous TVs, live music, an indoor dining area and outdoor seating. It has a full bar and cocktail menu, as well as beer and wine. The food menu features sandwiches, raw bar items, fish and non-seafood entrees, salads, soups and an all-you-can-eat Sunday brunch buffet. 3341 Bridge Plaza Drive, Vero Beach; 772-234-5550; website Where to eat: 10 essential restaurants in Vero Beach include Ocean Grill, Penny Hill Subs, Riverside Cafe ST. LUCIE COUNTY Square Grouper Tiki Bar, Fort Pierce The ages-21-plus-only establishment was opened in 2016 and is perched above the Fort Pierce Inlet and River Walk Center, offering panoramic sunset views. It is one of two locations on Florida's East Coast with the original tiki bar located at the Jupiter Inlet. The completely outdoor bar and restaurant has a relaxed, tropical atmosphere with covered seating and tables on its sand beach. Guests pick up the menu from the bar, order at the bar and receive a pager which will chime when the food is ready to be picked up from the bar. It has two large bars, live music and a dance floor. The menu offers a wide selection of beer along with seltzers, wines, signature cocktails and frozen drinks. Food options include snacks, burgers, hot dogs, sliders, tacos and sandwiches. 1920 Seaway Drive, Fort Pierce; 561-406-6417; website Restaurant review Meating Street Seafood & Steakhouse, Port St. Lucie The butcher shop, steakhouse and seafood market was opened in 2020 by Italian-American brothers Pat and Carmine Lamarra. It offers an elevated dining experience with luxurious and chic decor and encourages the exploration of shareable dishes. There is an outdoor patio, as well as indoor seating and a bar. It sits on Lake Tradition, and while that may not be the river, the sunset views still are exquisite. Menu items include Wagyu meatballs, crabcakes, a burrata salad, steak tartare, tuna tartare, short rib ragu, a Wagyu sirloin, cowboy ribeye, roasted duck and truffle scallop bucatini. The wine menu is extensive, and it also serves specialty cocktails and mocktails. 10553 S.W. Meeting St., Port St. Lucie; 772-348-3805; website Restaurant review MARTIN COUNTY The Nest, Jensen Beach Bill and Janeen McLean opened The Nest, located at the Island Dune Country Club, in 2024. The South Hutchinson Island fine dining restaurant and casual bar is known for its breathtaking, panoramic views of the sunset. The restaurant, complete with floor-to-ceiling windows, offers indoor and outdoor seating. The dinner menu items include a Maple Leaf Farms crispy half duck, pistachio herb-encrusted rack of lamb, tuna tataki and a pan-seared Faroe Island salmon with an herb butter, risotto and sautéed spinach. It also offers cocktails, spirits, beer and wine. 8735 S. Ocean Drive, Jensen Beach; 772-229-7575; website Restaurant review Sailor's Return, Stuart Couple Bob and Tracy Davis opened the waterfront restaurant after 27 years in the food and beverage world of the cruise ship industry. The 8,000-square-foot restaurant has a casual, elegant atmosphere and is located in the Sunset Bay Harbour and Marina. Its premier waterfront location offers guests an ethereal sunset view, as well as 930 feet of complimentary dockage space for those arriving by boat. It has indoor and outdoor bars, indoor dining and covered seating outside. Signature dishes include the pan-seared blackened snapper, 16-ounce ribeye, chicken cordon bleu Kiev and pork chop Milanese. It also offers specialty martinis and cocktails, beer and wine. 625 S.W. Anchorage Way, Stuart; 772-872-7250; website Restaurant review The Pearl, Port Salerno The waterfront Manatee Pocket open-air bar sits at the Fish House District and Marina, offering a renowned view of the sunset. The menu features an array of small plates made from seasonal, local and fresh ingredients. According to the website, the hand-crafted cocktails, made with premium spirits and unique, fresh ingredients, were designed to enhance the dining experience. Along with cocktails, it also offers wine, beer and brunch on the weekends. 4745 S.E. Desoto Ave., Stuart; 772-324-8268; website Where to eat? Manatee Pocket teems with waterfront restaurants featuring seafood Chippers Restaurant and Bar, Palm City The restaurant located at the Martin Downs Country Club may not sit on the water, but it still offers a sweeping view of the sunset over the golf course, which has been the site for both the PGA and U.S. Tour qualifiers. The menu features appetizers, soups, salads and sandwiches. It offers a seasonal cocktail menu, drink specials and mocktails. 3801 S.W. Greenwod Way, Palm City; 772-286-6818; website Where to eat? Palm City offers a diverse range of restaurants The Grove Cucina & Wine Bar, Hobe Sound Husband and wife sommeliers, Jen and Luis Reyneri, opened The Grove in 2019, which consecutively won the Wine Spectator Awards of Excellence from 2020 to 2023 and Open Table's Diner's Choice for Best Food from 2021 to 2023. It features a scratch kitchen menu with Mediterranean-inspired dishes, Italian classics, hand-tossed pizzas with dough made fresh daily, regionally-inspired cuisine, rotating specials and an ever-changing Wine Spectator award-winning wine list with over 350 selections. It also offers classic cocktails. There is indoor and outdoor seating that is set at just the right angle to see the sunset over the Market Place at Hobe Sound. 8815 S.E. Bridge Road, Hobe Sound; 772-402-5410; website Restaurant review Eve Pierpont is a freelancer for TCPalm who looks out for the best things to do across the Treasure Coast. Do you have an upcoming event you want to be potentially included in this weekly roundup? Email it to her at epierpont@ You can also upload your event to TCPalm's event page at This article originally appeared on Treasure Coast Newspapers: Best sunset bars in Port St. Lucie, Vero Beach, Fort Pierce, Stuart Solve the daily Crossword
