Virgin America: ownership issue rears its ugly face again - CFO departs

Virgin America's compliance with US citizenship requirements has been a concern since Sir Richard Branson first mooted the establishment of his airline brand in the USA. It was a significant point of controversy and debate during the carrier's certification proceeding prior to operations commencing in 2007. The US Department of Transportation (DoT) initially determined that Virgin America did not comply with the regulations, and required the company to restructure before granting initial certification. [1487 words]

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This report contains the following subheadings:

• Richard Branson has apparently not had any day-to-day involvement with the running of the airline.
• Calls for investigation
• Original complaint gains support
• Challenging time to seek new investors
• CFO departure
• Virgin America "exceeding expectations"
• Profitable quarters expected in 2009; break-even target back to 2010 timeframe
• Service to ninth city: Orange County

This report contains the following charts and tables:

• Virgin America fleet: as at Mar-09