Spirit Airlines Shareholders to sell Share in Public Offer

Spirit Airlines, Caribbean's leading low fare carrier, today announced that some of its major shareholders like Oaktree Capital Management, Indigo Partners and few members of its executive team are planning to sell close to 11 million shares in a public offering.

Oaktree and Indigo are two of the major shareholders if this Fort Lauderdale based airlines and together hold 51% stake in the company. When talking on a individual bases Oakree is the largest shareholder holding 31% i.e. 22.5 million shares and Indigo, 20% stakeholder owns close to 14.2 million shares.

Spirit airlines, which went public in May 2011, faced 55% of drop in its total profit margin as per a October 2011 report. The initial price of the share was $12 which on Friday Jan 13, 2012 closed at $15.02, clearly indicating a 1.4% rise over the past 3 months.