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Open Letter to Ted Christie, CEO of Spirit Airlines

Subject: Accountability and Transparency for Spirit Airlines Shareholders

Dear Mr. Christie,

I am writing as a concerned shareholder and supporter of Spirit Airlines, compelled to address the recent announcement of Chapter 11 bankruptcy. This decision has not only shaken the confidence of your loyal shareholders but also raises significant concerns about the transparency and integrity of the company's leadership.

Just months ago, you assured us publicly that bankruptcy was not under consideration. This statement provided reassurance to shareholders who continued to support the company during challenging times. Now, with the unexpected filing for Chapter 11 and the subsequent cancellation of stock equity, millions of dollars in shareholder investments have been effectively wiped out, leaving those who believed in Spirit Airlines and its vision facing devastating financial losses.

Key Concerns:

1. Contradictory Statements: The announcement of bankruptcy starkly contradicts your prior assurances. Shareholders who trusted your leadership and believed in the company's financial stability feel misled.
2. Impact on Shareholders: The decision to cancel stock equity has erased significant investments made by thousands of shareholders, many of whom believed they were contributing to the growth and recovery of the company. This action disproportionately affects individuals who stood by Spirit Airlines during turbulent times.
3. Lack of Transparency: The lack of communication and foresight regarding this drastic measure raises questions about the decision-making process within the leadership team. Shareholders deserve to understand why such a reversal occurred and why other alternatives were not pursued or communicated effectively.

A Call for Accountability and Action:

We respectfully request that you:

• Provide a detailed and transparent explanation of the events leading up to the Chapter 11 filing.
• Clarify why shareholders were not forewarned about the possibility of bankruptcy, despite earlier assurances.
• Outline the steps Spirit Airlines will take to rebuild trust with those who supported the company during its most challenging periods.

As a publicly traded company, Spirit Airlines has a responsibility to maintain trust and integrity in its relationships with shareholders. The abrupt loss of equity without proper communication has undermined that trust, leaving many feeling abandoned by the company they supported.

We recognize the challenges faced by the airline industry and Spirit Airlines specifically. However, we firmly believe that honest, transparent, and accountable leadership is essential to navigating such challenges successfully.

I urge you to address these concerns directly, not only to provide clarity but also to restore some measure of trust for the shareholders who have suffered significant financial losses.

Sincerely,
Shareholder, Spirit Airlines

To contact Ted Christie send an email to ted.m.christie@gmail.com or ted.christie@spirit.com.
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