Spirit Airlines' stock opens down 5.4% from IPO price

05/26/2011 | Wall Street Journal, The · Washington Post, The

On Wednesday, Spirit Airlines' initial public offering sold 15.6 million shares at $12 apiece. On its first day of trading Thursday, the discount carrier's shares were down 5.4% in early trading. The Fort Lauderdale, Fla.-based airlines underwent an overhaul in 2006 to become an "ultra-low cost, low-fare" carrier and has been profitable since 2007.

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