29-year-old entrepreneur Hashim Walters from New Orleans, Louisiana, has officially launched The Latimer Group, an ownership consortium focused on acquiring Spirit Airlines, an iconic brand facing critical financial distress. He says that his mission is to empower African American economic leaders, creating the only Black-owned commercial airline in the United States.
According to his post on Facebook, Hashim is leading the charge to unite influential Black leaders across various sectors, leveraging their collective economic strength to turn around the struggling airline and build a powerful legacy of Black ownership in America’s transportation industry. Hashim, although young, has a relatively long history of pursuing success and excellence as a visionary. He is an alumnus of Birmingham-Southern College and once ran for Mayor of New Orleans in 2017 when he was just 22 years old. He comments, “It’s now time for us to own companies and show other companies how to be morally sound and contribute to everyone in American Society.”
About Spirit Airlines
Spirit Airlines was founded in 1983 as Charter One, a Detroit-based charter tour company, before rebranding as Spirit Airlines in 1992. The airline adopted an ultra-low-cost carrier (ULCC) model, focusing on budget-friendly fares with additional fees for extras like baggage and seat selection. Over the years, Spirit expanded its network across the United States, Latin America, and the Caribbean, becoming one of the largest ULCCs in North America. Known for its bright yellow planes and no-frills service, the airline gained a reputation for affordability, albeit with mixed customer reviews.
In recent years, Spirit Airlines has faced financial challenges and operational difficulties, particularly with flight delays and cancellations. The airline was in merger discussions with Frontier Airlines before ultimately accepting a $3.8 billion acquisition offer from JetBlue Airways in 2022. However, in early 2024, the U.S. Department of Justice blocked the merger over concerns about reduced competition and higher fares for consumers. With the deal now scrapped, Spirit is focused on restructuring, improving its operational efficiency, and navigating a competitive market amid rising costs and industry pressures.