Virgin America ???

[Pelican 10]

Does anyone know the latest about these guys ??......I still can't find a good source that can give me the low down...

 

[Saabslime]

Last I heard, they were having some sort of trouble with financing. Personally, I hope they never get the thing off the ground. The last thing this industry needs right now is another player in the mix.

 

[RGC]

San Francisco Business Times

From the February 7, 2005 print edition
Virgin America faces delays
Financing, federal OK likely to push takeoff to 2006
Eric Young

Virgin America, the startup low-cost airline with operational headquarters in the Bay Area, likely won't get off the ground until 2006.

After agreeing last year to base most of its business on the Peninsula, Virgin America said service was scheduled to begin this year. But before it can take to the air, Virgin America must line up U.S. investors and get approval from the U.S. Department of Transportation -- a task that involves answering more than 22,000 questions.

"Our research shows that in the best-case scenario, we could launch between nine and 12 months after we file with DOT," said Virgin America spokeswoman Stacy Geagan. "We still have a few months when we could launch in 2005, but as we get later in the year it's possible it will be in 2006" before Virgin America carries its first passengers.

Conceived by British billionaire Richard Branson, Virgin America has said it will hire more than 1,500 flight attendants, pilots, maintenance technicians, engineers, dispatchers and other workers at its operational headquarters along the Peninsula. Another 300 people are expected to work in executive offices in New York. Anxious to attract those promised jobs, Bay Area and California officials last year offered Virgin America more than $15 million in grants and financial incentives to locate here.

The airline has 12 employees working in temporary space in Burlingame. They are helping the airline compile data to prepare for Virgin America's DOT application, said Bob Weatherly, the airline's senior vice president of flight operations.

The airline has not yet finalized a lease for its operational headquarters in the Forbes Building in Burlingame, an Equity Office Property near Highway 101, according to sources familiar with the deal.

Before the airline can submit flight applications to the federal government, it must secure financing. Weatherly, in a speech last week before San Mateo convention and visitors officials, said the airline is "well into the equity process" but declined to elaborate. Two British newspapers, citing Branson, reported within the last month that Virgin America's financing will be concluded over the next few months. Geagan would not confirm the reports.

The airline likely needs to raise at least $100 million, according to airline industry consultants, some of whom draw parallels between Virgin America and low-cost Jetblue Airways Corp. New York-based Jetblue launched in 2000 with $130 million. Under U.S. law, Branson cannot own more than 49 percent of a U.S.-based airline because he is a foreign citizen.

Some airline consultants said Virgin America might be having a difficult time lining up investors because the industry is in a slump. Globally, airlines were expected to lose $5 billion in 2004, largely due to sharp rises in fuel prices, according to the International Air Transport Association.

"Are you going to invest in an airline when everything you read says this is a bad industry?" asked Michael Boyd, president of the Boyd Group aviation consultancy.

While acknowledging the poor state of the industry, Virgin America executives said they will offer an attractive service and believe their business model will work.

"We see opportunities in attracting customers looking for low fares as well as a high-quality experience," Geagan said. "We believe that opportunity exists."

Virgin America said it will take possession of Airbus A319 and A320 aircraft later this year. Those planes seat approximately 124 and 150 passengers, respectively. The airline won't say how many they expect this year. But Fred Reid, head of the startup airline, said last year Virgin America had agreements to buy and lease up to 105 aircraft.

hope Rich Branson can get this baby off the ground soon

 

[propsarebest]

Hello, I'm Milton Drysdale
DON AND MIKE KICK @$$!!!!!!


PROUD MEMBER OF THE 4 HOUR CLUB!

 

[jobear]

There are virgins in america still?
Where?

Just kidding I saw an add for office wennie types on the Virgin site and on 350 or aviationjobboards.

Can you imagine fling a Virgin?*shuders*

Time to lay off the Meds again

Jo-vicadine-bear

 

[dogg]

hope Rich Branson can get this baby off the ground soon

Why, so we can all make less.....it is the last thing we all need as pilots.....another dirt bag low pay airline..... hope it never happens

 

[capt. megadeth]

Why, so we can all make less.....it is the last thing we all need as pilots.....another dirt bag low pay airline..... hope it never happens

My thoughts exactly

 

[AA717driver]

The last thing we need is a poorly run airline offering poor customer service screaming about a new entrant that might actually run a better airline than they can.

As for the pay being at the bottom of the scale--get in line with the people giving JB crap for their E190 pay. If you don't like it, don't apply.

I'd rather work for Richard Branson than Gerard Arpey...TC

 

[General Lee]

Fred Reid will eventually be able to get Virgin America airplanes........He really likes 50 seat RJs.....It's all about "frequency....It's the wave of the future, the wave of the future, the wave, the wave of the future........"



Bye Bye--General Lee

 

[717pilot]

General..I agree with you on that one!!

"Can we dance wif your dates?"--Animal House