Spirit Airlines Changes CEOs
Low-cost carrier Spirit Airlines on Tuesday announced that former AirTran Holdings CEO and current Spirit board member Robert Fornaro will replace CEO Ben Baldanza.
Baldanza has been president of Spirit since 2005 and CEO since 2006. He was at the helm when Spirit made the change to an ultra-low-cost carrier, becoming one of the first airlines to charge passengers for seat assignments, drinks and snacks, and boarding passes.
Spirit is in the midst of a growth period, with its flight capacity increasing 30% in 2015, but passenger revenues have grown by only 1%.
A statement about the change said it will continue to provide the lowest fares possible to its customers, and Baldanza will stay on and assist with the transition.
Fornaro was CEO of AirTran Holdings until it merged with Southwest Airlines in 2011. Before that, he was a senior vice president at US Airways. He’s a Harvard graduate and native of Orlando, Florida.
