For Hire: Ex Airline CEO and President. Completely flexible. Can dress up or dress down — depending upon the company culture and opportunity. Please call Fred Reid.

Virgin America has been given the okay to fly by the DOT.

But, as anticipated, not without restrictions.

Those restrictions include:

“**Requiring that the disinterested directors on the Virgin America board (that is, U.S. citizens) separately approve of the appointment or replacement of the trustee of Virgin Group’s shareholdings.

**Amending the voting trust agreement to require that the Trustee vote its shares proportionally to the other shareholders as to any matter that, in the opinion of the U.S. investor directors, creates a conflict of interest between the interests of Virgin Group and that of U.S. shareholders.

**Modifying the Virgin Trademark License Agreement to remove certain geographic and operational restrictions on Virgin America and the requirement that it pay royalties to the Virgin Group should the applicant conduct operations independent of the Virgin name.

**Confirming that the current CEO has terminated employment with the applicant within 90 days of the certificate being issued and any follow-on consultancy within 180 days following termination of employment.

**Submitting copies of all executed and signed agreements prior to certification.

**Reporting to the Department in advance if any additional loans (or other debt funding) are to be provided to it from the Virgin Group.”

Whew. I’m kind of surprised that the DOT took the airline up on its “sacrificial offering” to fire Reid. I’m also not sure if Richard Branson is going to be too happy about the restrictions to be placed on the Virgin Trademark License Agreement.

Then again, I guess if I were Virgin, I’d probably go with the deal and work out any infractions or problems after the fact.

Though the decision is tentative, the DOT’s rulings in such matters have historically not been overturned. The DOT said “interested parties may file an objection to the proposed decision within 21 calendar days.”

It wasn’t immediately clear just how soon Virgin America would begin flying after the obligatory 21-day period has passed.