Virgin America Set For $320m IPO

Virgin America will offer 13.3 million shares at $21–$24 a share when it goes public.

Details of the carrier’s IPO were published on Monday (November 3) alongside its Q3 results, which revealed that the airline’s earnings before tax had grown 18 per cent year on year and its operating margin had improved 1.4 percentage points to 12.9 per cent.

Virgin America has confirmed it expects to generate $320m from its IPO.

Hedge fund PAR Investment Partners has reportedly agreed to buy $52m of the shares.

Virgin America plans to have 43.2 million shares in total, which would put the carrier’s value at $1bn.

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