Spirit Airlines to seek public listing

Spirit Airlines to seek public listing

Spirit Airlines has confirmed it will seek up to $300 million in a public offering of common stock.

In a filing with the United States Securities and Exchange Commission (SEC) the Fort Lauderdale, Florida- based airline said it was seeking growth in its niche domestic markets, Latin America and the Caribbean.

Underwriters will be led by Citigroup and Morgan Stanley.

The number of shares to be issued, an offering date and a ticker symbol were not immediately provided by the airline.

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Spirit Airlines has rarely been out of the headlines this year after battling a pilots’ strike and a furore over carry-on baggage fees.

In June, pilots at the airline went on a five-day strike before reaching a tentative new-contract agreement with management.

The budget carrier represents less than one per cent of the country’s annual passenger traffic.