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Virgin America: losses contract in 1Q09; steady growth of unit revenues and lower unit costs

17-Jun-2009

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]

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Subheadings:

  • 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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