Ex-Spirit CEO Received Over $4 Million in 2024 Bonuses

The hefty compensation package comes as the carrier reported a loss of over $1 billion last year.

Gift exchange tradition between Ted Christie, President & CEO of Spirit Airlines (left), and Jimmy Morales, Chief Operations Officer for Miami-Dade County (Photo: Miami-Dade County)

[ News ]May 1, 2025 4:37 pm ET

By Ryan Ewing

According to a recent filing with the Securities and Exchange Commission, Ted Christie, the former president and chief executive officer of Spirit, received $8,169,764 in total compensation in 2024.

This compensation package included a base salary of $850,000 and $4,390,759 in bonuses. This substantial compensation package was awarded despite Spirit’s having filed for Chapter 11 bankruptcy on Nov. 18.

Pay Increases

Spirit implemented adjustments to the base salaries of its executives, including Christie, with these changes taking effect on July 1, to ensure competitive positioning, the ultra-low-cost carrier said.

His base salary was increased from $750,000 in 2023 to $950,000 in 2024, a nearly 27% raise.

A Spirit A320neo (Photo: AirlineGeeks | William Derrickson)

In response to the challenges posed by the bankruptcy proceedings, the airline implemented a retention program. With it, Christie received $3,800,134 as a one-time cash retention award.

This award, the airline stated, was intended to “promote stability in our management team during the period of uncertainty associated with the Restructuring.”

The median total employee compensation at the carrier was $80,071 in 2024, meaning Christie made 102 times more. In 2023, Christie’s total compensation was $6,601,404, representing a nearly 24% year-over-year increase.

Separation Agreement

Christie stepped down from his role effective April 6. He was later replaced by former Sun Country executive Dave Davis.

As part of his separation agreement, Christie will receive over $1.5 million as part of a terminal agreement since he was terminated without cause, the filing states.

Last year, the carrier reported a net loss of roughly $1.2 billion. This loss was significantly higher than the $448 million reported in 2023.

In addition to the Chapter 11 bankruptcy restructuring, Spirit furloughed over 500 pilots and planned to sell 23 Airbus A320-series aircraft.

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Ryan Ewing

Ryan founded AirlineGeeks.com back in February 2013 and has amassed considerable experience in the aviation sector. His work has been featured in several publications and news outlets, including CNN, WJLA, CNET, and Business Insider. During his time in the industry, he's worked in roles pertaining to airport/airline operations while holding a B.S. in Air Transportation Management from Arizona State University along with an MBA. Ryan has experience in several facets of the industry from behind the yoke of a Cessna 172 to interviewing airline industry executives. Ryan works for AirlineGeeks' owner FLYING Media, spearheading coverage in the commercial aviation space.

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Author

Ryan Ewing

Ryan founded AirlineGeeks.com back in February 2013 and has amassed considerable experience in the aviation sector. His work has been featured in several publications and news outlets, including CNN, WJLA, CNET, and Business Insider. During his time in the industry, he's worked in roles pertaining to airport/airline operations while holding a B.S. in Air Transportation Management from Arizona State University along with an MBA. Ryan has experience in several facets of the industry from behind the yoke of a Cessna 172 to interviewing airline industry executives. Ryan works for AirlineGeeks' owner FLYING Media, spearheading coverage in the commercial aviation space.
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