Virgin America IPO takes off

Lynsey Barber
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Virgin America IPO takes off (Source: Virgin America)

The US airline part-owned by Sir Richard Branson is preparing to go public after posting its first annual profit in March.

Branson owns a 22 per cent stake in the airline through Virgin Group with VAI Partners, controlled by hedge fund Cyrus Capital Partners, its biggest shareholder with a 71.6 per cent stake.

Barclays and Deutsche Bank Securities are leading the listing of the upscale carrier which began flying in 2007 and now has routes to 23 airports in the US and Mexico.

The number of shares on offer or a price have yet to be determined.

Chief executive of the airline David Cush signalled last year that the airline would likely file for an IPO by 2015. It posted revenues of $1.4bn and profit of $145m for 2013.

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