VIRGIN AMERICA SEES POSITIVE EARNINGS

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By TESTCustomwebLP TESTCustomwebLP November 10, 2010 21:26

VIRGIN AMERICA SEES POSITIVE EARNINGS

Virgin America has posted positive earnings for the period between July and September. The three-year old start up earned $7.5 million, compared with a loss of $5.9 million a year ago. Revenue for the same period jumped 28% to $202 million. Passenger revenue per mile also rose by 20%, which David Cush, chief executive of the airlines, credited to higher fares. He also stated that it will grow its fleet aggressively next year and hopes to expand to Chicago and Newark. Consequently the fleet will increase from 28 Airbus planes to 47 by the end of 2011, which will boost capacity by 35%.

Fuel prices remain the airlines biggest concern and as such the airline has hedged prices for 86% of its fuel the rest of 2010.

Over the next two months, Virgin America will begin services to Dallas, Los Cabos and Cancun in Mexico.

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By TESTCustomwebLP TESTCustomwebLP November 10, 2010 21:26
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