Virgin America files for IPO as US airlines recover – Yahoo News Malaysia 7-29-14

Posted: August 1, 2014 in Uncategorized

NEW YORK: Virgin America Inc, the low-cost airline partly owned by Richard Branson, filed for an initial public offering of shares as it looks to expand in the recovering United States US airline market.The company, known for mood lighting and wi-fi and comfortable leather seats even in economy class, offers flights to 22 cities in the US and Mexico, using a fleet of 53 Airbus A320 aircraft.Branson, whose investment in the airline is restricted by US foreign investment rules, owns a 22 per cent stake in Virgin America through the Virgin Group and a hedge fund.The British billionaire also owns a 51 per cent stake in Virgin Atlantic, which last posted an annual profit in 2011.Virgin America has been ranked first among US airlines for the last two years in the annual national Airline Quality Rating performance study published by researchers at Wichita State University and Embry-Riddle Aeronautical University.The airline earned US$10.5 million RM33.39 million on revenue of US$1.42 billion in 2013, its first profitable year since it took to the skies in 2007.

via Virgin America files for IPO as US airlines recover – Yahoo News Malaysia.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s