What We Know About Reported Bids for Virgin America

— -- The airline industry may end up with some strange bedfellows given that two carriers on opposite coasts reportedly hope to acquire Virgin America Inc.

Takeover offers for California-based Virgin America Inc. are due by the end of this week from regional airline Alaska Air and JetBlue, the Wall Street Journal reported.

The Journal, citing an unnamed source, said a preferred buyer could emerge as early as this week, though a final deal could take longer. Bloomberg reported last week that British Virgin Group founder Richard Branson was working with an adviser for a potential partial or full sale of the U.S. airline.

Representatives of Alaska Airlines, based in SeaTac, Washington, and JetBlue, based in Long Island City, New York, declined to comment to ABC News, saying they don’t talk about market "rumors or speculation."

Virgin America has also stayed tight-lipped about the reports.

"As a public company, we have a policy of not commenting on any market or media speculation concerning mergers or acquisitions involving Virgin America," a Virgin America spokeswoman said in a statement.

JetBlue may be one of the most likely buyers, according to a research note by Cowen and Company analyst Helane Becker last week. She cites their similar fleets (with A320 and A321 aircrafts), product offerings and transcontinental operations. She added that it's unlikely the Justice Department would allow the larger carriers to acquire the company, but they might "look favorably" upon the combination of two smaller carriers, which could make the industry more competitive.

"Given its size, Virgin America has historically been a price taker, not a price leader," she wrote. "We believe a combined JetBlue and Virgin America would give the combined company some pricing power."

Virgin America, based in Burlingame, California, launched service in August 2007. When it went public on Nov. 14, 2014, its stock soared more than 30 percent. London-based Virgin Group and U.S. investment firm Cyrus Capital Partners control more than half of Virgin America's NASDAQ-traded shares, and the company is completely separate from British airline Virgin Atlantic.