Spirit Airlines Inc. (SAVE) Chief Marketing Officer and Executive Vice President Barry Biffle has resigned to become chief executive of a new lost-cost airline serving domestic routes in Colombia.
Mr. Biffle has served as chief marketing officer since February 2005. From 2003 to 2005, he was managing director of marketing at US Airways Group Inc. (LCC), where he was responsible for the frequent-flier program, US Airways Vacations and product development.
Spirit has built its business around getting travelers to their destination as cheaply as possible. Its cut-rate fares include little more than a seat on the plane, while it charges a la carte for nearly everything else, including carry-on bags, boarding passes and drinking water.
Shares were recently trading at $31.61, up 16 cents. The stock has climbed 78% so far this year.
Source : The Wall Street Journal