Virgin America reportedly picks banks for IPO

This story is sourced from Pro
See more Pro news »

Virgin America has reportedly appointed Barclays and Deutsche Bank to support an initial public offering set for later this year.

UK business daily the Financial Times, citing people familiar with the situation, reports the US carrier last month interviewed half a dozen banks to support an IPO. It suggests an IPO could come as early as the second half of this year. Virgin America could not immediately be reached for comment.

Talk of an IPO comes as the airline appears set to record its first full-year profit. Virgin America reported an operating profit of $57.3 million at the nine-month stage and a small net loss over the same period. But it said at its third quarter results that it expects to post a small net profit for 2013 as a whole.

Virgin America was launched 2007 and generated revenues of more than $1.3 billion in 2012. It operates a fleet of more than 50 Airbus narrowbodies.