Spirit Airlines has named Brian J. McMenamy as new chief financial officer after the company’s previous CFO Scott Haralson resigned to pursue another opportunity at “a larger, publicly traded company outside of the airline industry”.
The Miaramar, Florida-based carrier said in a filing with the US Securities and Exchange Commission on 3 June that the resignation and new appointment will be effective on 14 June.
“We are grateful for Scott’s leadership and significant contributions over his eleven years with Spirit,” says Ted Christie, Spirit’s chief executive officer. “Scott’s accomplishments are too many to list, but he made a positive and lasting impression on the business. We wish Scott all the best and thank him for his service and dedication to Spirit.”
McMenamy was elevated from the role of the company’s Controller, which, according to his LinkedIn profile, he has held since November 2017. Prior to that, he spent more than 33 years at American Airlines, where he held numerous finance and accounting positions.
“With extensive financial expertise in the airline industry and a proven track record of driving business solutions, I am confident that Brian is ideally suited to take on the role of Interim CFO,” Christie says. “I look forward to working alongside him as we continue to drive growth and position the company for a return to profitability, while our search for the next CFO of Spirit continues.”
In addition, the airline says that its board has appointed Griselle Molina, a senior director in corporate accounting, to replace McMenamy in the Controller role. Molina has been with Spirit for almost 11 years.
Last month Spirit said it lost $143 million in the first quarter of 2024 amid heightened competitive pressures and other factors that prompted the airline to shrink its operation and to seek out cost savings.
The financial results came as the airline plots a standalone course following a failed plan to be acquired by JetBlue Airways. Spirit is also coping with a Pratt & Whitney PW1100G engine issue that has left many of its Airbus A320neo-family jets grounded.
On 3 June the company said it has “begun to execute on initiatives related to its go forward plan”, with expected cost saving initiatives “to benefit 2024 by over $75 million with annualised run-rate savings estimated at over $100 million”.
