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Virgin America

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Virgin America

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Organization Structure

An offspring of Sir Richard Branson's Virgin Group, Virgin America took flight just as high fuel prices and a recession rocked the airline industry. In 2007 the carrier launched service from San Francisco to Los Angeles and New York, and now serves more than a dozen destinations in the US as well as Canada and Mexico with a fleet of 25-plus Airbus A320 jets. It competes as a low-fare carrier, but distinguishes itself from rivals by providing first-class service and myriad in-flight entertainment options. In 2010 Virgin America's ownership shifted; a group of US investors picked up a 75% stake (including an affiliate of Cyrus Capital which holds more than a 55% stake). The remaining 25% is held by Virgin Group.

Parent Company

A parent company is a company that has enough voting stock in another company to control management and/or operations.