Report: JetBlue, Alaska Air Launch Bids for Virgin America

virgin americaThe rumored buyout of Virgin America took another step forward Monday with news that JetBlue Airways Corp and Alaska Air Group Inc have launched takeover bids for the airline, Reuters reports. 

Late last week Bloomberg reported that British entrepreneur Sir Richard Branson was considering selling the airline

According to analysts cited by Reuters, a deal would boost the airline's footprint and help it compete against the big three U.S. airlines -- American Airlines, Delta and United Airlines -- who have seen significant gains from industry consolidation. Additionally, a potential buyer would benefit from Virgin America's accounts with big tech companies like Facebook and Google, and JetBlue, in particular, would expand its presence on the West Coast

Read the Reuters story here, and keep visiting for further updates on this developing story.