How does profit sharing work within the Spirit 2.0 campaign’s community ownership model for the airline?
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The Spirit 2.0 campaign ties profit sharing directly to its community‑ownership structure.
Ownership Model and Profit‑Sharing Alignment
- The initiative uses a “one member, one vote” system, giving every supporter equal voting power regardless of how much they pledge.
- At the same time, profit distribution is linked to the amount each participant pledged, so larger contributors receive a proportionally larger share of any earnings. 🔗
- An Employee Stock Ownership Plan (ESOP) is planned to provide airline workers with equity, aligning employee interests with those of the broader member base. 🔗
- Executive compensation would be capped, ensuring that leadership pay does not outpace the cooperative’s collective goals and the profit‑sharing pool. 🔗
- The campaign calls for open‑book accounting, allowing members to see financial results and understand how profits are allocated according to their pledged contributions. 🔗
- By combining equal voting rights with profit sharing based on financial commitment, the model seeks to balance democratic control with a reward system that reflects each member’s investment in the airline.🔗
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Viral Grassroots Effort To Buy Spirit Airlines Claims $22 Million In Pledges — But Has No Cash And No Business Plan
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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Spirit 2.0? Unlikely Viral Campaign Aims to Turn Defunct Airline Into Public Company