here comes Virgin Air

[9rj9]

SAN FRANCISCO (AP) -- Virgin America Inc. said Thursday it submitted an application for certification from the Department of Transportation after receiving $177.3 million in funding from an investor group that will assume majority ownership of the startup low-fare carrier.
The financing was led by a partnership of Black Canyon Capital LLC and Cyrus Capital Partners LP. Sir Richard Branson's Virgin Group will own a minority stake in the airline.
Mark Lanigan, a managing director at Black Canyon Capital, has been named chairman of Virgin America, while Fred Reid, former head of Delta Air Lines Inc., will be chief executive of the carrier.
Virgin America said it will combine its company headquarters and operations in San Francisco, instead of locating headquarters in New York and operations in San Francisco as previously announced. The change will lower overhead costs, it said. With its funding complete, Virgin America said it will pursue its strategy of launching domestic U.S. scheduled airline service utilizing new Airbus A320 family aircraft in 2006.

 

[mach none]

perfect airport to start your operations.

1 cloud, 2 planes and you have a 3 hour flow time.

 

[P-Dawg_QX]

I for one would love to see this airline fail miserably. Does that make me a bad person? Not that I really care

 

[AA717driver]

Better sell your JB stock... TC

 

[Flying Freddie]

This will be very interesting to watch.

 

[turbodriver]

SAN FRANCISCO (AP) -- Virgin America Inc. said Thursday it submitted an application for certification from the Department of Transportation after receiving $177.3 million in funding from an investor group that will assume majority ownership of the startup low-fare carrier.
The financing was led by a partnership of Black Canyon Capital LLC and Cyrus Capital Partners LP. Sir Richard Branson's Virgin Group will own a minority stake in the airline.
Mark Lanigan, a managing director at Black Canyon Capital, has been named chairman of Virgin America, while Fred Reid, former head of Delta Air Lines Inc., will be chief executive of the carrier.
Virgin America said it will combine its company headquarters and operations in San Francisco, instead of locating headquarters in New York and operations in San Francisco as previously announced. The change will lower overhead costs, it said. With its funding complete, Virgin America said it will pursue its strategy of launching domestic U.S. scheduled airline service utilizing new Airbus A320 family aircraft in 2006.

They said this last year too. Change the 2006 at the end to 2005.

Not a chance Branson.

 

[atpcliff]

Hi!

It sounds like they're buying Independece Air, and will keep 430 of their pilots. If that happens, at least not all the FLyI guys will be on the street.

Cliff
YIP

 

[Heavy Set]

Hi!

It sounds like they're buying Independece Air, and will keep 430 of their pilots. If that happens, at least not all the FLyI guys will be on the street.

Cliff
YIP

I don't see any statement directly mentioning FlyI. Did I miss that? It would make sense to buy (or lease) the Airbus aircraft and take on the qualified pilots. You have to admit, the amount of initial funding is pretty impressive - but that can melt away pretty quickly. I wish them good luck!

 

[737 Pylt]

I don't see any statement directly mentioning FlyI. Did I miss that? It would make sense to buy (or lease) the Airbus aircraft and take on the qualified pilots. You have to admit, the amount of initial funding is pretty impressive - but that can melt away pretty quickly. I wish them good luck!

Exactly! The way to make a little money in the airline business is to start with a lot!
737

 

[skykid]

I for one would love to see this airline fail miserably. Does that make me a bad person?

No!! I'm with you - until they get pilots on the payroll I will be hoping Branson falls flat on his face. All we need is another LCC with shiny new jets setting a new standard in lousy compensation.