Business Companies 29 Mar 2016 Virgin America recei ...

Virgin America receives takeover offers: Source

REUTERS | DECCAN CHRONICLE
Published Mar 29, 2016, 8:22 am IST
Updated Mar 29, 2016, 8:22 am IST
Virgin America is the US offshoot of billionaire entrepreneur Richard Branson's London-based Virgin Group
 Virgin America is the US offshoot of billionaire entrepreneur Richard Branson's London-based Virgin Group

US budget airline carrier Virgin America Inc has received acquisition interest from several companies, including JetBlue Airways Corp and Alaska Air Group Inc, a person familiar with the matter said on Monday.

Asian airline companies have also expressed interest in Virgin America, although they would have to partner with a US bidder because of foreign ownership rules governing US airlines, the person said.

Bloomberg reported earlier on Monday that Virgin America had received takeover offers from JetBlue and Alaska Air.

The source asked not to be identified because the sale process is confidential. Virgin America did not immediately respond to requests for comment, while JetBlue and Alaska Air declined to comment.

Burlingame, California-based Virgin America went public in November 2014 and now has a market capitalization of $1.37 billion.

Virgin America is the US offshoot of billionaire entrepreneur Richard Branson's London-based Virgin Group, which is involved in airlines, railroads, telecommunications, media and hospitality.

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