Tuesday, July 14, 2009
The Financial Times reported last week that Virgin America is seeking regulator approval to receive capital from a new group of U.S. investors. See Justin Baer, Virgin America Moves to Head Off Challenge, Fin. Times, July 10, 2009 (available here). The move comes in response to a petition filed earlier this year by Alaska Airlines, Virgin's chief rival, for the Department of Transportation to conduct a fresh review of whether the carrier still meets U.S. citizenship purity rules after its chief American investors reportedly sold their shares back to the U.K.-based Virgin Group. See previous discussion on the blog here, here, and here. No word yet as to when the DOT will render a decision on the matter.