Virgin America faces another setback to its hoped-for start-up by the end of the year after Transportation Department (DoT) regulators ordered it to file more specifics of its relationship with Virgin Atlantic founder Richard Branson and to detail the exact ownership stakes of all investors and their nationalities. Opponents, led by Continental Airlines and the Air Line Pilots Association, argue that Virgin America would not meet US limits on foreign investment. The proposed start-up’s application has been under DoT review since January. Virgin America was established in 2004 and had planned to launch in mid-2005.
Source: Airline Business