Virgin America is reportedly considering a sale.
According to Bloomberg, citing sources familiar with the matter, the airline is reaching out to potential buyers about a sale of some or all of the company.
The stock surged by as much as 12% in trading Wednesday after the news.
The company, which is owned by Richard Branson’s Virgin Group, went public less than two years ago. It was valued at about $1.4 billion based on the stock’s closing price of $30.67 on Tuesday.
It flies to destinations in the US and Mexico.
The company has not responded to Business Insider’s request for comment.
Here’s a chart showing the stock’s spike right after the report on Wednesday: