Spirit adds to Baldanza workload
Spirit Airlines added chief executive officer duties to Ben Baldanza’s remit following the retirement of investor Jacob Schorr as CEO.
Baldanza has been president and chief operating officer since January 2005 when he was brought in by a new investment group, Oaktree Capital. Schorr, a noted biotechnologist, had invested in Spirit in 1997, joining as chief information officer and initiating its 1999 move from its Detroit base to South Florida.
Baldanza has brought in a new team in efforts to bring the privately held carrier to profitability. Key to that is Spirit’s transition to an all-Airbus fleet, financed by Oaktree’s $125 million investment, but Baldanza, 44, says the carrier is committed to improving in-flight and airport service as well.
Schorr, 61, has gradually been reducing his stake in the 25-year-old low-fares carrier after Oaktree took over. Schorr, however, will remain chairman of Spirit’s board of directors.
Source: Airline Business
