12:34 PM EDT, 06/03/2024 (MT Newswires) -- Spirit Airlines ( SAVE ) Chief Financial Officer Scott Haralson is departing the budget airline to join rental car company Hertz Global ( HTZ ) in the same role at the end of this month.

Haralson will continue with Spirit Airlines ( SAVE ) until June 14. Brian McMenamy, vice president and controller, will take over as interim CFO on the same date, while the company searches for a permanent successor to Haralson.

"We are grateful for Scott's leadership and significant contributions over his eleven years with Spirit," Spirit Chief Executive Ted Christie said in a Monday statement. "With extensive financial expertise in the airline industry and a proven track record of driving business solutions, I am confident that Brian is ideally suited to take on the role of interim CFO."

In a separate statement, Hertz said Haralson will succeed finance chief Alexandra Brooks, who is leaving the company to pursue other opportunities. The company announced that Chief Operating Officer Justin Keppy will resign, effective June 3.

"I welcome Scott's partnership in helping lead Hertz through this transition year and into our next phase of growth as we seek to deliver sustainable long-term shareholder value," CEO Gil West said.

In April, Hertz reported a first-quarter adjusted loss of $1.28 per share versus earnings of $0.39 the year before, as total expenses rose to $2.66 billion from $1.99 billion.

In the first quarter, the company upsized its electric vehicle disposition plan 10,000 units, with plans to sell 30,000 EVs this year. Vehicle depreciation in the first quarter increased $588 million, or $339 on a per unit basis, while the firm incurred a $195 million charge to write down the vehicles held for sale to fair value, according to a statement on April 25.

Spirit has been in talks with holders of its loyalty bond and convertible notes due in September 2025 and May 2026, respectively. A proposed acquisition of Spirit by JetBlue Airways (JBLU) collapsed in March. Last month, the airline logged an adjusted loss of $1.46 a share for the three-months through March 31, widening from a $0.82 loss a year earlier.

The company said on Monday that it has begun to carry out initiatives related to its go forward plan, and expects to make more changes soon. In April, it decided to postpone all Airbus plane deliveries and furlough pilots. The air carrier continues to project cost saving initiatives to benefit its full-year 2024 by more than $75 million.

Price: 3.57, Change: -0.09, Percent Change: -2.33