Low-cost carrier Spirit Airlines filed with the Securities and Exchange Commission for an initial public offering.

The Fort Lauderdale based airline is planning to sell $300 million in common stock according to filing dated September 17, 2010.

Currently Spirit is owned and operated by several private equity groups, which include Oaktree Capital Management LP and Indigio Partners LLC.

Shares would be made available by way of an underwriting group led by Citi and Morgan Stanley.

Source: CNN