Captain Ryan Muller, SPA MEC Chairman send Ted Christie, CEO of SPA, a letter directly asking about Spirit Airlines' pilot pay over the next five years. See attached text and picture email sent to Spirit Airlines CEO.
Ted Christie
2800 Executive Way #6542 Miramar, FL 33025
Ted,
May 18, 2022
In JetBlue’s Schedule 14A SEC filing dated May 16, 2022, it is stated that “on April 19, 2022, members of JetBlue leadership and Spirit’s senior management team, along with representatives from Goldman Sachs, Morgan Stanley and Barclays, held a conference call to discuss various financial due diligence items, including Spirit’s five-year plan, Spirit’s revenue and cost drivers, and Spirit’s order book growth and aircraft financing strategy. During the meeting, JetBlue and Spirit discussed Spirit’s financial projections underpinning the transaction with Frontier included in the Spirit Definitive Proxy Statement, focusing on Spirit’s unrealistic assumptions, especially with respect to costs associated with personnel attrition and wage inflation, which did not contemplate any wage increases for team members, including pilots, at a time of high attrition and an anticipated shortage of pilots.”
I am deeply troubled by this information as it appears that either Spirit is not being transparent with its shareholders, or it is not contemplating any wage increases for pilots as part of its financial projections.
Ted, I am requesting you please explain these statements. My MEC and my pilots deserve answers. Sincerely,
Captain Ryan Muller
SPA MEC Chairman
