Shares of Virgin America Inc VA, the low-cost airline, popped higher Tuesday following its IPO debut last Friday.
Shares of the company opened for trading at $33.73 after pricing its IPO at $23. Shares flew higher to $36.58 before cooling off a bit, trading at $36.11.
Virgin America was trading with a valuation above $1.54 billion, making it more valuable than some of its peers including Skywest Solutions Inc that trades at a valuation slightly above $600 million.
The IPO comes at a healthy time for the airline industry following a mostly better-than-expected quarterly earnings season.
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