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Spirit Airlines finance chief to join car rental firm Hertz
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Spirit Airlines finance chief to join car rental firm Hertz
Jun 3, 2024 6:23 AM

June 3 (Reuters) - Spirit Airlines CFO Scott

Haralson is leaving the airline to join car rental company Hertz

Global Holdings ( HTZ ) as its finance chief, the companies said

on Monday.

Shares of both Spirit and Hertz were up over 2% in premarket

trading.

The transition at Spirit comes at a time when the carrier

has been losing money despite booming travel demand, raising

questions about its ability to manage debt that is due to mature

in 2025 and 2026.

The ultra-low-cost carrier, last month, forecast a loss for

the second quarter as its earnings continue to reel from the

grounding of a number of its aircraft, as well as bloated

industry capacity in key markets.

Meanwhile, Hertz is reported to be exploring options to

raise financing as it struggles with the EV rental business.

Haralson, who has held key financial roles at Dish

Network and Frontier Airlines, will join Hertz the end of June

and will succeed Alexandra Brooks.

Spirit named Brian McMenamy as its interim CFO effective

June 14, while it searches for a permanent replacement.

Hertz added its chief operating officer Justin Keppy would

resign from the company, effective June 3.

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