I want to make sure as many people as possible know about Jet Blue's and Virgin's po0licies regarding bikes. They each not only have a very low bike (baggage) fee, but also are the only ones I know of who don't require a bike to be partly disassembled and packed in a box!
See the picture, for how Jet Blue accepted my bike. I've never used Virgin, but their wording is very similar to Jet Blue's: Pedals must be removed and handlebars must be turned sideways and secured. That's it!
I chose to add padding, which was pipe insulation and some bubble wrap, and I secured my front wheel to the back wheel so it wouldn't roll or pivot. A friend didn't do this step, and his front wheel must have gotten spun all the way around, and the speedometer/computer cable was wrenched out and broken. My bike was great!
So simple to take it off the oversize luggage belt, snip off tape that held the pipe insulation, add pedals and turn handlebars and tighten.
Our only caveat would be to print out or be able to show the baggage people what their own rules are, since we almost were turned back at check-in, at the baggage drop-off. The person at the computer didn't know their policy, but luckily a manager was passing by and assured her it was fine. Another employee came and carried away my bike as a s3econd one took away a surfboard.
I think this way is best, and the bikes will be taken better care of than packed in a box. They certainly were easier to get ready to ride after we landed!