Little time passed in 2016 before the burgeoning and increasingly formidable ultra-low cost carrier (ULCC) sector in the US made seismic waves. The first tremor came Jan. 5, when the sector’s most significant figure exited: Spirit Airlines made the surprise announcement that president and CEO Ben Baldanza had been replaced, effective immediately, by former AirTran Airways CEO Bob Fornaro. Baldanza’s abrupt departure from Florida-based Spirit—the first US airline to adopt ...

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