Popular Virgin America is still generally losing money, but they have some stuff to crow about. Check it, below.
Appears as if they’ll fly right through our Great Recession.
All the deets:
Virgin America Reports Fourth Quarter and Full Year 2009 Financial Results
Start-up Airline Reports Strong Performance in Second Full Year of Operations
SAN FRANCISCO, April 22– Virgin America, the award-winning start-up airline, today reported its financial results for the fourth quarter and full year 2009. While driving growth against the backdrop of a contracting industry, the start-up airline made significant top line progress in its second full year of operations. For full year 2009, Virgin America reported a $48 million operating loss on revenues of $548 million – a $140 million (or 74 percent) year-over-year improvement over 2008. In 2009, the Company also reported its first quarterly operating profit in the third quarter.
Although the revenue and demand environment remained challenging in the final quarter of 2009, Virgin America reported strong revenue performance, industry-leading load factors, and improved unit costs for the fourth quarter. The airline narrowed its operating loss by $11 million year-over-year in the fourth quarter, improving its operating margin by 10.9 points. Virgin America also reported a 47 percent increase in scheduled service capacity year-over-year.
Ever more deets, after the jump