Virgin America IPO takes flight as discount airline files to raise $115 million

By Renaissance Capital,

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Virgin America, a US-based low-cost airline founded by Richard Branson, filed on Monday with the SEC to raise up to $115 million in an initial public offering. The Burlingame, CA-based company, which was founded in 2004 and booked $1.4 billion in sales for the 12 months ended March 31, 2014, has not selected an exchange nor a ticker symbol. Barclays and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.

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