Virgin America reports third quarter 2015 earnings

Virgin America has reported net income of $73.0m, excluding special items, during the third quarter of 2015, compared to $31.3m from the third quarter of 2014. Operating income and operating margin excluding special items were $75.0m and 18.2%, respectively. Total operating revenue was $410.9m, an increase of 1.3% over third quarter of 2014. Passenger revenue per available seat mile (PRASM) decreased 2.7% compared to the third quarter 2014, to 11.05 cents. Year-over-year PRASM decline was driven by a 1.0 point decrease in load factor and a 1.8% decrease in yield. Total RASM decreased 1.6% year-over-year. On a GAAP basis, net