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Virgin America Files For IPO

The California-based airline filed for an initial public offering Monday morning.

Virgin America Files For IPO

[Image: Flickr user Aero Icarus]

Virgin America, the U.S. airline partly owned by space-tourism mogul Richard Branson, has filed for a U.S. initial public offering.

The airline, which primarily flies between Los Angeles and San Francisco, did not say how many shares it would offer or discuss a potential price range. By law, 75% of the voting power of a U.S. airline must be controlled by U.S. citizens; Branson, who is a citizen of the United Kingdom, owns 22% of the company.

Known for its hip vibe and green policies, Virgin America was founded in 2007 and posted its first consecutive quarterly profit in 2013.