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This version of NSU News has been archived as of February 28, 2019. To search through archived articles, visit nova.edu/search. To access the new version of NSU News, visit news.nova.edu.
This version of SharkBytes has been archived as of February 28, 2019. To search through archived articles, visit nova.edu/search. To access the new version of SharkBytes, visit sharkbytes.nova.edu.
Ben Baldanza, Distinguished Lecturer Speaks at NSU’s Huizenga Business School
Preston Jones, D.B.A, dean of Huizenga Business School with Ben Baldanza, president and chief executive officer of Spirit Airlines.
Ben Baldanza, president and chief executive officer of Spirit Airlines, spoke recently at NSU’s H. Wayne Huizenga School of Business and Entrepreneurship. Baldanza was a featured speaker through the business school’s Distinguished Lecture Series, a program which has hosted local, national and international business men and women.
Baldanza joined Spirit Airlines in 2005 as president and chief operating officer. In May, 2006, he was promoted to his current position and also appointed to the board of directors. He has more than twenty-five years of experience in the airline industry.
Baldanza’s presentation was a comprehensive study of the company’s business model and strategies. The industry lost more than $10 billion in 2008 due to fuel hikes; and it was a time to re-evaluate the company’s core principles. Baldanza took the audience through the analysis, discussing factors that dictated changes to the business model. Nearly 80 percent of customers look at price above all else leading Spirit to focus on serving that market segment. Baldanza doesn’t like the term, “no-frills.” He explained that Spirit believes in, “frill control.” Where customers can control frills they receive by paying only for the ones they need. The company lost $81 million in 2006 but in 2013, made $177 million.
Spirit is now an industry leader and unlike most traditional carriers, it remained profitable during the recession. Baldanza added that the company is preparing to triple its business over the next three years. As with all organizations, one of the key factors to growth is good people. He gave advice to students, making note that Spirit is always looking for smart, aggressive individuals and those willing to buck the trend.
The Distinguished Lecture Series is sponsored by John H. Schnatter Family Foundation.
The John H. Schnatter Family Foundation was established in 1997 and has provided support to numerous charitable causes across the country since its inception.
