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    Spirit Hands Out Furlough Notices Amid Pay Raises for Executives

    Spirit Hands Out Furlough Notices Amid Pay Raises for Executives

    In a July 1 Form 8-K filing, the carrier announced pay raises for four of its C-suite executives and its CEO. At the same time, 200 pilots received furlough notices—a plan the airline initially laid out in April due to aircraft engine issues and slower growth plans.

    According to the filing, Spirit announced the appointment of Frederick Cromer as executive vice president and chief financial officer, replacing Scott Haralson, who left the airline last month. Spirit detailed salary increases and bonuses for other C-suite members who would receive base salaries to the tune of $950,000, $650,000, $525,000, and $500,000, beginning July 1.

    Meanwhile, the low-cost carrier made a deal with Airbus to delay all deliveries until 2030-2031 in an effort to save money. Spirit says the move would improve its liquidity by $340 million over the next two years.

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