Tuesday, July 14, 2009

Virgin America Looks for New Investors

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.

http://lawprofessors.typepad.com/aviation/2009/07/the-financial-times-reported-last-week-that-virgin-america-is-seeking-regulator-approval-to-receive-capital-from-a-new-group.html

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