Virgin America cleared for take-off in 2010

The Department of Transportation (DOT) confirmed Virgin America’s financial fitness and U.S. citizenship status. The DOT issued a ruling that the airline and its proposed new ownership structure will remain fully compliant with U.S. ownership laws. U.S. law requires that domestic airlines remain under the control of U.S. citizens, with no more than 25% of the voting stock being held by foreign citizens. As a matter of policy, the DOT reviews any proposed ownership changes of over 10% of the voting stock of any U.S.-domiciled airline.