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Virgin America 2Q2011 loss widens

19-Sep-2011 12:05 PM

Virgin America revenue up 46% – financial highlights:

  • Three months ended 30-Jun-2011:
    • Revenue: USD268.5 million, +45.6% year-on-year;
    • Operating costs: USD274.5 million, +48.5%;
      • Fuel: USD113.3 million, +61.5%;
      • Aircraft leases: USD41.8 million, +49.7%;
      • Labour: USD33.9 million, +30.1%;
    • Operating profit (loss): (USD6.0 million), compared to a loss of USD430,000 in p-c-p;
    • Net profit (loss): (USD21.7 million), compared to a loss of USD15.5 million in p-c-p;
    • Passenger numbers: 1.3 million, +32.9%;
    • Load factor: 82.9%, +1.0 ppt;
    • Average fare: USD192.79, +11.0%;
    • Total revenue per ASM: USD 10.97 cents, +11.9%;
    • Passenger revenue per ASM: USD 10.09 cents, +13.4%;
    • Yield: USD 12.17 cents, +12.1%;
    • Cost per ASM: USD 11.21 cents, +14.1%;
    • Cost per ASM excl fuel: USD 6.59 cents, +8.2%;
    • Average stage length: 1563 miles, +3.0%;
  • Six months ended 30-Jun-2011:
  • Revenue: USD469.7 million, +41.8%;
  • Operating costs: USD505.2 million, +43.0%;
    • Fuel: USD196.6 million, +57.7%;
    • Aircraft leases: USD80.2 million, +43.7%;
    • Labour: USD66.2 million, +24.2%;
  • Operating profit (loss): (USD35.5 million), compared to a loss of USD22.1 million in p-c-p;
  • Net profit (loss): (USD66.66.3 million), compared to a loss of USD51.1 million in p-c-p;
  • Passenger numbers: 2.3 million, +23.6%;
  • Load factor: 79.5%, +0.5 ppt;
  • Average fare: USD188.25, +16.2%;
  • Total revenue per ASM: USD 10.16 cents, +12.0%;
  • Passenger revenue per ASM: USD 9.31 cents, +13.5%;
  • Yield: USD 11.71 cents, +12.8%;
  • Cost per ASM: USD 10.93 cents, +13.0%;
  • Cost per ASM excl fuel: USD 6.67 cents, +6.5%;
  • Average stage length: 1576 miles, +4.8%. [more]

Virgin America: “The next 12 months are an important growth phase for Virgin America as we increase our fleet to 52 aircraft and expand our network. Our teammates continue to rise to the challenge of growing our company. We are executing well on our long–term vision for Virgin America, with added frequency in our core markets and new warm weather destinations. Our strong revenue performance, loyal following of flyers and the cost leverage we gain with growth, will allow us to continue building a successful airline as we emerge from our current growth cycle,” David Cush, President and CEO. Source: Virgin America, 16-Sep-2011.