Mexico’s Volaris Aviation Holding, parent of low-cost airline Volaris, plans to raise $100m in an initial public offering (IPO), however it has been suggested that they could raise as much as $400m. The airline company has filed with the US Security and Exchange Commission but did not disclose a date for the IPO, nor the amount of shares to be sold. Deutsche Bank Securities, Morgan Stanley and UBS Investment Bank are underwriting the IPO. The company plans to use the proceeds to pay off debt and cover pre-delivery payments for it aircraft. Last year, Volaris took a net income of $16.5m and revenue of $945.9m.