Virgin America reports Q2 results

admin
By admin August 13, 2014 19:30

Virgin America reports Q2 results

Virgin America reported a $37 million net profit for the second quarter, quadrupling the airline’s $8.9 million net income recorded during Q2 2013. The successful second quarter offsets the carrier’s $22.4 million net loss in the first quarter, bringing Virgin America’s year-to-date (six-month) net income to $14.6 million—a reversal from the $37.5 million half-year net loss the company posted during 2013.

The San Francisco-based carrier’s second  quarter revenue grew 6.1% year-on-year to $398.8 million as expenses rose 1% to $351.7 million, resulting in operating income of $47.1 million, a 69.1% rise from $27.9 million during Q2 2013.

Virgin America’s second quarter traffic slipped 0.1% year-on-year to 2.7 billion RPMs. Capacity decreased 1.6% to 3.2 billion ASMs; the passenger load factor for the quarter came to 84.9%, up 1.2% year-on-year. The airline carried 1.73 million passengers during the second quarter, down 0.1% year-on-year. Yield grew 5% year-on-year to 13.15 cents.

On July 28th, Virgin America filed a registration statement with the Securities and Exchange Commission announcing its intent to launch an IPO. The number of shares to be offered and the price range for the proposed offering are still to be determined.

admin
By admin August 13, 2014 19:30