Spirit Airlines CEO Ted Christie spoke candidly about the airline industry, likening it to a rigged game and saying U.S. consumers are "the long-term losers." "Today, nearly all the profits of the entire U.S. airline industry are concentrated in just two companies, while the smaller non-legacy carriers scrambled to restore profitability in what seems ever more like a rigged game," Christie said in an earnings call with analysts.
Christie had argued that the deal to combine the carriers, originally announced in 2022, "would save hundreds of millions for consumers and create a real challenger to the dominant ‘Big 4’ U.S. airlines," but it faced significant regulatory pushback.
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Source: Gizmodo - 🏆 556. / 51 Read more »