Alaska asks DOT for review of Virgin America

 

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Alaska Airlines (Seattle/Tacoma) has once again called for a Department of Transportation (DOT) investigation into whether Virgin America (San Francisco) still qualifies as an “U.S. owned airline”. AS cited a report in the Wall Street Journal on March 9 that stated Virgin America’s U.S. owners (Black Canyon Capital LLC and Cyprus Capital Partners) had exercised their options and sold back the 77 percent share to the Virgin Group (UK). If correct this would make Virgin America a foreign owned airline and thus it could not continue to operate domestic flights. U.S. law requires that at least 75 percent of the voting shares be “owned” by U.S. citizens.