Virgin America reportedly looking for a buyer
Monday, 24 Mar, 2016
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Virgin America’s shares are on a high after reports emerged suggesting the carrier is mulling a sale of part or all of its business.
The Burlingame, CA based airline has reportedly instructed a financial advisor to pursue options, although no definite decision has been taken, according to unnamed sources, a Bloomberg report said.
It came about after Virgin received takeover interest.
The carrier, which is backed by British billionaire Richard Branson, remained tight-lipped, only saying: "As a public company, we have a policy of not commenting on any market or media speculation concerning mergers or acquisitions.”
Some analysts suggest any interested buyer may not necessarily be a competitor airline keen to consolidate.
"While information is limited at this point, we do not believe another airline would be the logical buyer of the company. given the current regulatory environment, Virgin’s lack of aircraft ownership or dominant slot holdings, among other factors,” noted Jamie Baker of JP Morgan.
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