Virgin America IPO

Founded in 2007, with Richard Branson taking a highly publicised 22% investment (the largest foreign ownership allowed under US law), Virgin America is planning an IPO (Initial Public Offering).  The airline said that the cash injection will help fund future growth.

A filing has been submitted to the US Securities and Exchange Commission, but the airline has not yet said how many shares will be offered and the price range for the proposed offering.

San Francisco International Airport is Virgin America's main hub, but it also has a high profile at Los Angeles International Airport.  The airline flies mainly to large business-orientated cities in the US along with a smaller number of vacation destinations typified by Fort Lauderdale and Palm Springs.  It has a fleet of 53 Airbus A320s.

For the first time last year the airline made a profit, US$10.5m on revenue of US$1.4bn.   www.virginamerica.com

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