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The airline’s growing reputation on bi-coastal routes as well as returning travel demand have bolstered Virgin America’s profits, giving it the consecutive growth it needed to validate an IPO.
Virgin America Inc., the U.S. airline partly owned by U.K. billionaire Richard Branson, plans to sell shares in the U.S.
The carrier hired Barclays Plc and Deutsche Bank AG to handle the sale, the Burlingame, California-based company said today in a Securities and Exchange Commission filing. The number of shares and the price have yet to be determined, Virgin America said.
Chief Executive Officer David Cush said almost a year ago that an IPO would be possible as long as the carrier posts several consecutive quarters of earnings growth.
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