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In early 2026, a Louisiana businessman made a striking proposal in the US airline industry. John Miller, a Baton Rouge entrepreneur best known as the founder of the Country Club of Louisiana, says he’s ready to lead a bid to acquire Spirit Airlines and transform the struggling carrier’s business model. If successful, Miller plans not only to rescue the ultra-low-cost airline but also to relocate its headquarters and establish a major airline hub in New Orleans, according to Louisiana Radio Network.
The idea is as audacious as it is ambitious: leverage Spirit’s low market valuation, assemble a public-private investor group, and revamp the airline into a viable global competitor with deep ties to Louisiana’s economy. Across the industry, the proposal is capturing attention and stirring debate — about Spirit’s future and the viability of ultra-low-cost carriers in the post-bankruptcy era.
Can A Louisiana Businessman Save Spirit?
Spirit Airlines has gone through several difficult years. The budget airline is handling its second Chapter 11 bankruptcy through a restructuring that includes renewed support and a plan to update its services, following debt restructurings and investor backing. Spirit’s stock also remains at very low levels, making it an appealing target for acquisition.
John Miller believes that Spirit’s current situation presents a rare opportunity to rebuild. Miller’s approach has two main parts: acquire Spirit at its low valuation and then shift the airline’s strategic focus to New Orleans. Instead of remaining an “ultra-low-cost” carrier, the plan aims to reimagine the product with features such as increased seat pitch and premium cabins, while also significantly expanding its service and connectivity.
Miller also envisions Louis Armstrong New Orleans International Airport as a major hub. Under the proposal, flights departing the city could triple, with broader domestic and international markets opening up.
Miller told reporters about his vision for the reimagined Spirit model:
“You will have 34-inch (airline seat) pitch… You will not pay all these fees and all of these extras”
The NewP3 Model: Structured Revival Strategy
Details of how this plan would be implemented are outlined by the Louisiana-based platform NewP3, which is leading the investment initiative. According to information on NewP3.com, the bid is structured as a large-scale public-private-philanthropic partnership (P3) designed to align investor returns with community and economic benefits.
Under this P3 framework, private capital would be pooled to recapitalize Spirit, targeting around $1 billion in equity, while structuring the airline to deliver broader benefits to Louisiana’s economy. The concept includes significant public and philanthropic engagement, with profits dedicated not only to business success but also to reinvestment into the local community.
The investment structure, as outlined in the NewP3 documents, includes draft agreements that emphasize financial benefits for public entities without burdening local government budgets. These draft terms are designed to make the partnership attractive while protecting citizen interests.
Would Castlelake Save Spirit Or Just Buy It For Spare Parts?
This proposed acquisition has a number of potential implications for Spirit.
Industry Implications & What’s Next For The Proposal
Spirit’s recent history underscores how challenging the airline business can be even for carriers with strong demand. The ultra-low-cost carrier has been under financial pressure, is still emerging from restructuring, is reducing debt, and has a plan to refocus its operations and guest experience. Prior acquisition attempts by major rivals, including JetBlue’s bid and Frontier’s offer, were either blocked or rejected, as regulators and shareholders worried about reduced competition in the budget travel segment.
The economics of running an airline remain notoriously difficult. Ultra-Low-Cost Carrier models like Spirit’s rely on tight margins, high aircraft utilization, and ancillary fees, charging separately for extras like bags and seats to drive revenue. Transforming that approach into a more full-service or hybrid model, as proposed in the Louisiana bid, would require major operational restructuring and careful cost management.
Louisiana’s business leaders see potential economic upside beyond the airline’s financial turnaround. A major hub at Louis Armstrong New Orleans International Airport could significantly increase passenger traffic, boost tourism, and attract business travel, thereby stimulating investment in airport infrastructure and a broader aviation network, including the hospitality and logistics sectors. Backers argue this could bring millions of visitors to New Orleans and create broader economic growth for the state.
At the same time, the proposed acquisition still faces substantial hurdles. John Miller and his investor group must win over private capital backers, rely on investor confidence rather than government funding, and then navigate regulatory approvals, creditor negotiations, and the complexities of reshaping Spirit’s business model. Whether this Louisiana-anchored vision becomes a turning point for the airline or another ambitious industry proposal will hinge on balancing financial risk with strategic execution.
