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Spirit Airlines announced that it planned to furlough 200 pilots due to ongoing issues with its Airbus A320s equipped with Pratt & Whitney engines. The same day, in its 8-K filing, it revealed that bonuses and raises were planned for some of its executives.
BREAKING
Spirit Airlines just issued WARN notices to pilots, signaling the upcoming furlough of over 200 pilots.
The company's 8K filing has also revealed that the airline simultaneously approved raises for its C-suite executives.
Source: Spirit ALPA MEC pic.twitter.com/C4BNUUuSI6
— Aero Crew News (@AeroCrewNews) July 2, 2024
It’s a bitter pill to swallow for the pilots who work hard for the carrier. Spirit Airlines Master Executive Council (SPA) – ALPA has confirmed that WARN (Worker Adjustment & Retraining Notification) notices were issued to pilots saying that more than 200 would be furloughed.
Spirit issues furlough notice to their pilots the same day their executives get raises
byu/bak2lumby inaviation
The relevant section of the 8-K filing has been posted to Reddit. Form 8-K is a periodic filing requirement from the US Securities and Exchange Commission (SEC). Public companies must submit this form to disclose material events that could impact shareholders or the SEC (like massive raises for executives).
Anthony’s Take: There is no shortage of demand for flights this summer. This appears to be tied to the ongoing aircraft issues. It’s bad timing and poor optics to dole out cash to the C suite while furloughing pilots.
(Featured Image Credit: Forsaken Films.)
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Advertiser & Editorial Disclosure: The Bulkhead Seat earns an affiliate commission for anyone approved through the links above This compensation may impact how and where links appear on this site. We work to provide the best publicly available offers to our readers. We frequently update them, but this site does not include all available offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed, or approved by any of these entities.
1 comment
Spirit had mentioned the need to reduce active pilot count some time ago based on the engine issues. The WARN notice is a formality but chatter is that they may not need to actually furlough. Based on the closure of ACY there have been some retirements, and possibility of some voluntary leaves. But yes, bad timing with giving the execs the snap-back increase that has been put off/accumulated over the last 4 years.