Virgin America was purchased by Alaska Air for 2.6 billion. Alaska Air was in a bidding War with Jet Blue. Alaska air was the 8th biggest Airline based on traffic so it'll probably go up because with Virgin America purchase, the combined airline will have roughly 1200 departures a day. Last quarter, Virgin had reported a 190 million profit. This was a 600% increase from the year before.
Virgin America was launched in 2007 by Richard Branson. Virgin America went public in 2014. So 9 years turned this company into 2.6 billion? Good job Richard. Well done. Looks like Alaska Air is trying to build a monopoly and catch up with American Airlines...
http://money.cnn.com/2016/04/04/investing/virgin-america-alaska-air-deal/index.html
Virgin America takes a completely different approach to flying, and it's very consumer demand based rather than standard. I find this very interesting, like how cars became more attractive once that they got the hang of making standard cars!
ReplyDeleteShara Jeyarajah
Richard Branson is a smart business man he brings a personalty to his companies and has a unique brand. It has definitely paid off.
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