Virgin America Selects Reval for Commodities Hedging
New York, NY, USA - 8 March 2011
Domestic airline Virgin America has selected Reval’s Software-as-a-Service (SaaS) solution to support the derivative risk management and hedge accounting of its commodities portfolio, announced Reval (www.reval.com), the global leader of corporate financial risk management solutions.
“Reval is well known for the depth of its expertise and the strength of its SaaS solution,” said Virgin America SVP and Chief Financial Officer Holly Nelson. “This kind of support will be important to automate our risk management process as we expand across North America.” With the straight-through processing workflow of Reval’s SaaS solution, Virgin America will be able to seamlessly adopt hedge accounting under the requirements of ASC 815, automate the testing of its fuel hedging program and report on its performance.
“Virgin America is an innovative leader and a growing airline,” says Reval Managing Director, Americas, Jeff Stacey. “We are very happy to provide them with the best product and service to support their strategic business goals.”