Spirit Airlines Files for $300 Million IPO

Spirit Airlines filed plans for an IPO worth as much as $300 million.

The airline, which offers low-cost travel to and from South Florida, the Caribbean and Latin America, would retain about half of the proceeds of the IPO and use most of the rest to pay down debt, The Wall Street Journal said.

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Spirit has remained profitable in each of the last three full years even as other airlines have struggled. Still, the company lost money in the first six months of this year as fuel and wage costs rose.

The airline is the largest carrier at Fort Lauderdale/Hollywood International Airport, measured by the number of passengers.