The initial public offering (IPO) of Virgin Blue, the low-fare Australian airline, half owned by UK entrepreneur Richard Branson, has finally got underway six months after it was planned to launch.

The offer, which was due to launch in the first half of this year, has been more than 10 times oversubscribed. The demand for shares reflects the success of the airline, which has captured 30% of the Australian domestic market in three years after an initial investment of only A$10m (€.6.1m).