Virgin America: losses contract in 1Q09; steady growth of unit revenues and lower unit costs
Virgin America reported improved financial results and better-than-expected year-on-year growth in unit revenue in 1Q09, despite a challenging economic climate in the quarter. [991 words]
Unlock the following content in this report:
- Load factor increase of 12 ppts in 1Q09; strongest ever load factors reported in Apr-2009 and May-2009
- More conservative growth strategy planned for 2009
- Cash balance slips to USD38 million; but enough to fund operations through to profitability
- Remains optimistic about future, despite significant short term challenges
Graphs and data:
- Virgin America financial highlights for three months ended 31-Mar-09
- Virgin America operating margins: 4Q07 to 1Q09
- Virgin America net losses: 4Q07 to 1Q09
- Virgin America fleet: as at Jun-2009
- Virgin America cash and cash equivalents (at beginning and end of the quarter): 3Q07 to 1Q09
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