Spirit Airlines quickly retained its new leader to pilot its South Florida-based career, triggering its exit from Chapter 11 bankruptcy.
He is 58-year-old David Davis, who most recently served as Sun Country Airlines president, chief financial officer and board member, Spirit announced Thursday.
In a statement, Spirit’s Chairman of the Board of Directors, Robert Milton said that Davis “will bring him years of extensive experience and solid track record in the airline industry. In Dave’s background, he will lead the continued transformation of Spirit, both in Northwest Airlines and, more recently, at Sun Country Airlines.”
Spirit transformation involves attracting well-paid customers with more diverse services as spirits seek to make money when the volume of travellers is declining across the industry.
Davis will replace Ted Christie, who resigned as president and CEO earlier this month after 13 years of stretching at Spirit. Christie navigated Covid-19, campaigned to improve customer service, restructured finances through Chapter 11, and maintained the course as an independent airline after failing to acquire it launched by Frontier Airlines and JetBlue Airways.
Substantial Signature Bonus
According to a regulatory application Thursday, the veteran airline executives have signed a three-year employment agreement seeking a base salary of $950,000 a year, and a three-year employment agreement seeking a $4 million bonus paid in two installments, which will be initially paid on the start of April 21st.
Also, according to the filing, Davis earns a “target annual cash bonus opportunity of 125% of annual salary,” with the maximum payment being 250% of his base. The board will determine the amount if the bonus is guaranteed.
Davis inherits fresh airlines from a rapid Chapter 11 bankruptcy reorganization where spirits are reduced through aircraft sales, layoffs and overhauls of route networks.
“We are thrilled to be part of Spirit at this important time in the company’s history,” Davis said in a statement from the airline. “We look forward to working with over 11,000 spirit team members to provide value to our guests, shareholders and the communities we serve.”
In some respects, the Land of the Sun is similar to the Spirit, but the Land of the Sun is small. Both are extremely low cost carriers. Like Spirit, the Minneapolis-based airline offers a wide range of US destinations, including Florida, as well as locations in the Caribbean and Mexico.
Spirit was the leading airline for passengers working at Fort Lauderdale Hollywood International Airport. Sun Country maintains a low profile at Broward County Airport and elsewhere in the state.
Original issue: April 18, 2025 8am Edt
