Former Sun Country Airlines chief financial officer (CFO) Dave Davis will be the next chief executive of Spirit Airlines, effective on 21 April and filling a post left vacant by the recent departure of former CEO Ted Christie.
As part of the shift, Davis has stepped down from his job at Sun Country.
“We’re excited to welcome Dave as Spirit’s new president and CEO,” Spirit board chair Robert Milton said on 17 April. “He brings with him a wealth of experience and a solid track record of accomplishments from his many years in the airline industry.”
Miramar, Florida-based Spirit said on 7 April that Christie had stepped down and that Spirit’s board of directors was searching for a replacement.
The airline recently emerged from bankruptcy court protection and has been struggling financially amid an environment analysts describe as characterised by lacklustre demand and excessive capacity of discount airline seats in the USA.
Spirit signed Davis to a three-year employment deal, under which Davis will receive a signing bonus of up to $4 million, of which $2 million will be paid on Davis’s start date and another $2 million will be paid one year later. Davis will also, on his start date, receive 403,226 shares of restricted Spirit stock. His annual salary will be $950,000 and Davis will be eligible for cash bonuses, according to Spirit filings with the US Securities and Exchange Commission.
“I am thrilled to join Spirit at this critical time in the company’s history,” Davis says.
Minneapolis-based Sun Country said on 16 April that Davis, who had been its CFO since April 2018 and president since December 2019, resigned, effective immediately.
Previously, Davis was CEO and CFO of aviation and maritime connectivity provider Global Eagle Entertainment, now called Anuvu. Before that, he was CFO of Northwest Airlines and held various positions at US Airways. Davis has also been a board member of Spanish airline Volotea.
Additionally, Spirit has hired longtime airline executive Trey Urbahn as senior commercial advisor, a role in which Urbahn will assist Spirit will “network, pricing and yield management, as well as the airline’s onboard configurations and offerings”, Spirit says.
Urbahn co-founded Breeze Airways and previously worked at or with Azul, Etihad Airways, JetBlue Airways, Northwest Airlines, Priceline.com, TAP Air Portugal, United Airlines and US Airways.
Spirit has also hired airline analyst and former Air Canada chief operating officer (COO) Duncan Dee as senior-vice president of corporate communications.
Following Davis’ departure, Sun Country is searching for a new CFO. Meantime, it has named treasurer and vice-president of financial planning and analysis Bill Trousdale as interim CFO, the airline said on 16 April.
Additionally, Sun Country COO Gregory Mays announced his intention to retire and has “stepped down” from the COO role. Mays will remain an employee “for a mutually agreed timeframe” to assist with a transition of duties.
Sun Country has also named vice-president of technical operations Stephen Coley is its interim head of operations, the airline says.
