Spirit’s CEOs comments come as S&P downgraded the carrier’s credit rating earlier this week, potentially hurting its ability to refinance its debt. The carrier has $1.1 billion in debt set to mature in September 2025.
Spirit’s leadership shakeup comes as the carrier is struggling to make a profit, and some analysts have previously said the ultra-low-cost carrier would need to either find a buyer or potentially file for bankruptcy.
Today's podcast looks at Marriott and Hilton's franchise fee battle, Skift's take on Google's latest AI tools, and Spirit's latest strategy for profitability.
The changes come as the Department of Transportation released a final rule that will require airlines to disclose all fees associated with add-on perks.
Federal agencies are currently investigating whether airlines have devalued frequent flyer miles to make it more difficult for consumers to redeem award tickets.