MIAMI This morning, Virgin America filed for an initial public offering after posting its first annual profit.

The airline, partly owned by Richard Branson, gave a placeholder fund-raising target of $115 million, a figure used only to determine filing fees. Although, the number of shares and price has not been determined yet.

Last year, the carrier reported its first yearly profit which was $10.1 million.

Virgin America started operations 2007, and it currently operates flights to 23 cities with more than 50 Airbus A319s and A320s, and the airline consistently ranks at or near the top of surveys as one of the top airlines in the US.