Don’t look now but we’re about to have another publicly traded airline in the U.S.

Allegiant Travel Company, the parent of Allegiant Airlines which is based in Las Vegas, and flies primarily to smaller markets throughout the U.S., filed its S-1 with the SEC today. The airline plans to sell up to 5 million shares for between $15 and $17 per share in an initial public offering.

Merrill Lynch & Co., the lead manager on the deal, along with other managers, have the option to buy an additional 750,000 shares to cover overallotments, according to the filing.

Assuming an offering price of $16 a share, the company — which earned $10.3 million on revenue of $180.2 million in the first nine months of 2006 — would have an initial market capitalization of about $300 million.

The airline is going to be listed on the Nasdaq with the symbol ALGT.

Speaking of new offerings, last Friday shares in the “new” Air Canada went public. ACE Aviation Holdings, Inc., spun off 25% of the airline last Thursday in a deal that was heavily oversubscribed. The new ticker symbol there is AC-A.To (Shares are traded on the Toronto Stock Exchange.)

More info on the folks behind Allegiant in the coming weeks. But for the most part — if you remember the original management team from ValuJet — you’re going to see a lot of the same names.

Only this time it’s a different business plan and they’re flying MD-80s.