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Virgin America moving forward

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Jul 29, 2004
Virgin America Files to Operate Startup Carrier After Getting $177.3 Million in Funding
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.
:rolleyes:Yeah...great, just what we need! More Seats! Chalk up another "smoking hole" for this company! They could not have chosen a Worse place to be based! You know, there is a reason that Southwest goes to Oakland instead of SFO!! Big Mistake!
I wouldn't be too quick to phooey Richard Branson. He has a great track record, and I imagine has a reason for his decision.

When he started Virgin Blue in australia it was lambasted by the "experts" saying that there was no room for more capacity and they would then rattle off all the other airlines that had come and gone in aussie history. Well a few years later and he has made huge profits from Virgin Blue (I believe he sold his share now) and it is now one of only two remaining large domestic airlines in that country (the other being QANTAS).
more seats! DOOHHHH!

I think the strength og the Virgin Brand and its cool lounges will steak pax away just because they're the new kid. what's needed isn't fewer seats as much as higher yields on those seats.
Wrong Management Team

Branson might be able to run an airline but if you check the website, his "managment team" is littered with the same people that raped and ruined Delta. There's no way I'd go and work for these clowns...all they know how to do is line their own pockets.
I bet the pilot resume piles in their HR office will be sky high. With their low fares, brand new planes, excellent services, and incredibly hot FAs, these are defiantly the deadliest threats to US airline industry. I think even the mighty Southwest and Jet Blue will have a tough time to compete with that.

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