*By Carlo Versano*
When Spirit Airlines CEO Ted Christie flies, he flies his own ultra-low-cost carrier ーin coach. Such is the attitude at Spirit, where cost efficiencies are the very principle on which the airline does business.
Christie, who started in the role as Spirit Airlines ($SAVE) CEO this year, said that the business model is simple: its very low-cost structure drives low fares, which drive demand. Spirit, which is notorious for its no-frills cabin experience, even manages to pack more seats onto each aircraft, which helps the company diffuse fuel costs when they spike.
While Spirit takes its share of licks from passengers on social media, Christie said the airline's success has more to do with stimulating travel "off the bottom" ー reaching travelers who wouldn't otherwise fly, rather than frequent travelers looking to save a few bucks.
That is "untapped and unconstrained" demand, Christie said.
Even still, it's paying customers who demand some level of reliability, service, and comfort, even at the low price points. Spirit placed last in the 2018 American Customer Satisfaction Index of airlines.
"We're working hard on it," Christie said of the customer satisfaction metrics.
But value is its own satisfaction metric. Clean planes that are on-time, with friendly staff and bags that don't get lost ー for a $59 ticket ー is the value proposition Spirit wants its customers to consider.
The airline is adding some amenities to its flights: notably, high speed internet, which will cost between $6 and $10 per flight, Christie said, and be available across the fleet this year.
For full interview [click here](https://cheddar.com/videos/new-spirit-airlines-ceo-on-the-quest-for-high-value-low-fare-product-to-drive-loyalty).
Peacock shared the trailer for the second season of the celebrity competition show, 'The Traitors.'
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
