Ted Christie got a few things off his chest during the company's earnings call
Spirit Airlines CEO Ted Christie is definitely not bitter about how things went down with the JetBlue Airways merger that was halted by the Justice Department before eventually being abandoned. He told listeners on the company’s earnings call, which discussed numbers so dour they sent Spirit shares down nearly 10% in Monday trading, that he was speaking to them from the carrier’s new digs in Dania Beach, Florida.
“Today, nearly all the profits of the entire US airline industry are concentrated in just two companies, while the smaller non-legacy carriers scrambled to restore profitability and what seems ever more like a rigged game,” he said. “The Big Four are the beneficiaries in this new normal. American consumers are the long-term losers.” Though JetBlue and Spirit had initially signaled that they would fight the ruling on appeal, they eventually backed all the way off.
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