Madison Air Solutions has filed for an initial public offering of 82.7 million Class A common shares, expected to be priced between $25 and $27 each, according to a filing with the US Securities and Exchange Commission on Monday.

The company said it has received approval to list the shares on the New York Stock Exchange under the "MAIR" symbol.

Madison Air said it has granted underwriters a 30-day option to buy up to an additional 12.4 million shares sold in the offering.

Assuming an IPO price of $26 per share, the company expects net proceeds of about $2.07 billion, or $2.39 billion if the underwriters' option is fully exercised, per the filing.

The company said it expects to receive an additional $100 million through the sale of Class B common stock to Madison Industries, an entity controlled by founder Larry Gies.

The company said it plans to use proceeds from the IPO to repay debt and for general corporate purposes.