Virgin American shares are climbing in their trading debut.
The shares opened at $27 – $4 higher than the price that the airline set – and then jumped as high as $29 in early dealings Friday on the Nasdaq stock market.
The timing of the IPO by the Richard Branson-backed airline could hardly be better. Airlines stocks have soared as the carriers reap huge profits thanks to full planes, rising revenue and falling fuel prices. After years of losing money, Virgin America is now profitable.