NEW YORK, July 29 The chairman of Spirit
Airlines Inc plans to resign in August as funds
affiliated with private equity firm Indigo Partners LLC divest
their stake in the company, the carrier announced on Monday.
William A. Franke, chairman of the board of Spirit Airlines,
plans to resign at the company's next board meeting, scheduled
for Aug. 7. John R. Wilson, a director, also plans to resign at
Their resignation will come as investment funds affiliated
with Indigo divest their stake of roughly 12.07 million shares
of common stock in Spirit Airlines. Barclays is acting as the
sole underwriter for the public offering of the common
The board of Spirit Airlines plans to elect H. McIntyre
Gardner, a director since 2010, as the new chairman of the
Representatives for Spirit Airlines and Indigo were not
immediately available for comment.