Virgin America begins selling shares to the public on Friday, and the timing of the IPO could hardly be better.
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Airlines are reaping huge profits thanks to full planes, rising revenue and falling fuel prices. After years of losing money, Virgin America is now profitable.
The Richard Branson-backed airline is pricing the shares at $23, near the middle of its announced range of $21 to $24 each, which will raise more than $300 million before expenses. They will trade on the Nasdaq stock market under the ticker symbol "VA."