When Spirit Airlines abruptly replaced longtime CEO Ben Baldanza with former AirTran chief Robert Fornaro on Jan. 5, some analysts speculated about whether a merger could be in the offing. But while Fornaro helped orchestrate AirTran’s 2010 sale to Southwest Airlines, and though eventually he could act similarly at Spirit, making a deal might not be his first priority in his new job.  In roughly a decade in charge, Baldanza transformed the carrier from a plodding hub-and-spoke ...

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