Spirit Airlines Announces Major Change Amid 'Shakeup'

Spirit Airlines has officially emerged from bankruptcy, and now, the company announced a new leader as they forge ahead in the airline business.

Spirit has appointed Dave Davis as its new chief executive officer, just a few weeks after the carrier came back from bankruptcy and reconstituted its board.

Davis "will be tasked with a business overhaul as Spirit works to move away from its no-frills image and rebrand itself as a premium airline, after years of mounting losses," according to a statement.