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Frontier Airlines Airbus A320 takes off from Los Angeles International Airport on August 27, 2020 in Los Angeles, California.
AaronP | Bauer-Griffin | GC Images | Getty Images
Frontier Airlines has raised $ 570 million in an initial public offering, the last U.S. carrier to travel this route as the industry begins to see signs of recovery, the company said on Wednesday evening.
The Denver-based The budget carrier sold 30 million shares at a price of $ 19 each, the low end of the target range, earning it a valuation of around $ 4 billion.
Frontier begins trading Thursday under the symbol ULCC, the initials of the ultra-low-cost carrier, on the Nasdaq Global Select Market.
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