Virgin America planning to launch its IPO this year

Virgin America planning to launch its IPO this yearVirgin America has said that it is planning to launch its Initial public offering this year and the company has appointed Barclays and Deutsche Bank for managing the issue.

According to people closer to the matter, the company might launch its offer during the second half of the year. California-based airline, Virgin America, which is backed by billionaire Sir Richard Branson, is planning to go public this year following two consecutive profitable quarters. Investment banks Barclays and Deutsche Bank will manage the initial public offering that is expected to second year of the year but the company did not comment on the matter.

But Virgin America Chief Executive David Cush said, "We think we have the airline in good shape, but we'd like to get a couple of more quarters under our belt before we go out there."

The carrier is expected to report its fourth-quarter financial numbers next month and analysts are expecting positive results following two profitable quarters. Virgin America has a total of 53 aircrafts while, American Airlines, which became the world's largest carrier after merging with US Airways, has 951 planes.