Ted Christie Steps Down After 5 Years At the Top

Just weeks after low-cost carrier Spirit Airlines fought its way out of bankruptcy, CEO Ted Christie decided his work there was done. The operator will be led by an interim executive team as it progresses through a major rebrand.

Christie had been with Spirit Airlines since 2012 as its Chief of Finance, stepping into the role of CEO in 2019. Ironically, as a direct result of the COVID-19 chaos, this was the last year that Spirit was able to turn a profit from its operation. The carrier has lost upwards of $2 billion since 2020.

As many know by now, the airline has been in an extremely rough position over the past couple of years. It attempted several merger deals with other low-cost carriers, including JetBlue and Frontier. The JetBlue merger was close to succeeding, but was eventually blocked by a federal judge on concerns of anti-trust.

These troubles led the airline to file for Chapter 11 bankruptcy in November 2024. This was not in any way a surprising decision; the industry had been waiting for the carrier to bite the bullet since the JetBlue deal fell through in March. It held off as long as possible, announcing plans to sell multiple aircraft, issue layoffs, and reopen talks with Frontier in October.

Spirit was able to emerge from the Chapter 11 proceedings on March 12, 2025, with plans to become bigger and better by ditching its no-frills image. At the time, there was no reason for the industry to suspect a leadership change - Spirit actually stated that it would “continue to be led by Ted Christie, President and Chief Executive Officer, and its existing executive team.”

Christie also had a strong financial incentive to maintain his role, receiving a $3.8 million retention bonus just before the whole bankruptcy process ensued. He would be given this money as long as he stayed with the airline for another year.

The carrier has yet to name Christie’s permanent replacement and is currently being headed by an interim team of executives, consisting of Chief Financial Officer Fred Cromer, Chief Operating Officer John Bendoraitis, and General Counsel Thomas Canfield. Spirit’s Chief Commercial Officer, Matt Klein, also announced his resignation and will be succeeded by former Senior Vice President and Chief Transformation Officer Rana Ghosh.

“On behalf of the Board and the Spirit team, I thank Ted for his tireless efforts over the course of his 13 years at the Company,” stated Spirit Airlines chairman Robert Milton. “Ted has kept the company together through challenging times, and for this we wish him all the best going forward.”

FMI: www.spirit.com