IPO-Bound Virgin America Plans Route Expansion
Photo Credit: Virgin America touts what it considers its premium guest experience, including its fleetwide Wi-Fi and seatback touchscreens for movies and other entertainment. Virgin America
Skift Take
Virgin America needs to attract more business travelers if it is to fill those first class and Main Cabin Select seats to maintain a passenger revenue advantage over low cost carriers.
Virgin America would use an unspecified portion of its net proceeds from its hoped-for IPO for sales and marketing and acquiring additional flight equipment as it looks to expand its operations from Los Angeles, San Francisco, and soon Dallas Love Field.
A huge chunk of the net proceeds, though, would go toward repaying principal and interest to note holders Virgin Group and Cyrus Capital, which currently hold 61.8% and 38.2%, respectively, of $654.4
