Targeting $300 Million, Florida Airline Going Public With Stock Offering

Spirit Airlines, which holds the distinction as the first U.S. carrier to charge for carry-on bags, will launch an initial public offering, hoping to land $300 million.

Florida-based Spirit says it expects to retain $150 million from the IPO proceeds.

While total revenue for the six months ended June 30 climbed 2 percent to $357 million, Spirit reported that profits fell amid higher fuel costs and the continued economic downturn.