What does the Spirit 2.0 campaign suggest as the mechanism for community ownership of Spirit Airlines?
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The Spirit 2.0 campaign proposes a community‑ownership structure built around collective pledges and cooperative governance.
Ownership Mechanism
- The plan uses a “one member, one vote” system where every supporter gets equal voting rights regardless of how much they pledge.
- Ownership stakes are tied to the amount pledged, so profit sharing is proportional to each participant’s contribution. 🔗
- An Employee Stock Ownership Plan (ESOP) would give airline workers equity in the cooperative. 🔗
- Executive compensation would be capped to keep leadership pay in line with the cooperative’s goals. 🔗
- The campaign calls for open‑book accounting so members can see the airline’s financials. 🔗
- It mirrors the Green Bay Packers’ community‑ownership model, aiming to keep fares affordable while being owned by passengers, employees, and supporters. 🔗
- Interested individuals can register with a minimum pledge of $45 on the campaign’s website, though the pledges are non‑binding and no cash has been collected yet.🔗
In short, the campaign suggests community ownership through a pledge‑driven cooperative that combines one‑member‑one‑vote governance, profit sharing based on contributions, an ESOP for workers, capped executive pay, and transparent finances.
The Bulkhead Seat 16%
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With Spirit Airlines out of business there’s an attempt at a grass roots effort for “the people” to buy it. The project, “Spirit 2.0 — Owned by the People,” is seeking pledges from passengers, employees, and communities, to acquire the carrier’s assets – with one member, one vote (regardless of investment) but profit sharing based on pledge amount. The new carrier would offer worker equity through an Employee Stock Ownership Plan, capped executive pay, open books, and “affordable fares” in a Green Bay Packers-style community ownership model applied to aviation. But website pledges are non-binding, they’re not actually
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