5/25/2011

Spirit Airlines reduced its planed initial public offering of 20 million shares of stock to 15.6 million shares, according to a Securities and Exchange Commission filing today. Analysts had termed the IPO a risky maneuver. "Most airlines would never even think about doing equity right now, with fuel at a three-year high and the outlook somewhat uncertain" for the economy, said Michael Derchin, an analyst for CRT Capital Group.

Related Summaries