Virgin America Announces Plans for IPO
Virgin America announced on Monday that it had filed a registration for an initial public offering of its common stock with the U.S. Securities and Exchange Commission. The discount carrier’s move had been expected for several months.
The airline said that the number of shares to be offered and the price range for the proposed offering have yet to be determined. Barclays and Deutsche Bank Securities are acting as joint book runners and representatives of the underwriters for the IPO.
Virgin America was founded in 2004 and commenced operations in 2007. Twenty-five percent of the company is owned by Richard Branson’s Virgin Group, which also licenses the Virgin name to the airline. It primarily operates out of San Francisco and Los Angeles.
The carrier’s inaugural flights on August 8, 2007 were on two Airbus A320s and it now has a fleet of 43 Airbus A320-200s and ten Airbus A319-100s.
(Photo: Accura Media Group)