Virgin America reports first second quarter net profit in 2Q2013, also reports operating profit

Virgin America revenue up 8% - financial highlights:

• Three months ended 30-Jun-2013:
• • Total operating revenue: USD376.1 million, +8% year-on-year;
  • Total operating costs: USD348.2 million, +1%;
  • • Fuel: USD133.3 million, +6%;
    • Labour: USD51.5 million, +8%;
  • Operating profit: USD27.9 million, compared to a loss of USD4.1 million in p-c-p;
  • Net profit: USD8.8 million, compared to a loss of USD31.8 million in p-c-p;
  • Passenger numbers: 1.7 million, +8%;
  • Load factor: 83.7%, +4.0 ppts;
  • Average fares: USD197.07, -1.3%;
  • Yield: USD 12.52 cents, +1.0%;
  • Passenger revenue per ASM: USD 10.48 cents, +6.2%;
  • Total revenue per ASM: USD 11.56 cents, +7.8%;
  • Cost per ASM: USD 10.70 cents, -1.4%;
  • Cost per ASM excl fuel: USD 6.61 cents, +1.8%;
• Six months ended 30-Jun-2013:
• • Total operating revenue: USD677.4 million, +10%;
  • Total operating costs: USD664.5 million, -0.4%;
  • • Fuel: USD249.9 million, +5%;
    • Labour: USD108.0 million, -0.2%;
  • Operating profit: USD12.9 million, compared to a loss of USD52.7 million in p-c-p;
  • Net profit (loss): (USD37.5 million), compared to a loss of USD107.8 million in p-c-p;
  • Passenger numbers: 3.1 million, +1.3%;
  • Load factor: 80.8%, +0.7 ppt;
  • Average fares: USD198.86, +7.4%;
  • Yield: USD 12.70 cents, +9.7%;
  • Passenger revenue per ASM: USD 10.26 cents, +10.7%;
  • Total revenue per ASM: USD 11.39 cents, +12.1%;
  • Cost per ASM: USD 11.17 cents, +1.3%;
  • Cost per ASM excl fuel: USD 6.97 cents, +4.5%;
  • Unrestricted cash: USD148.2 million. [more - original PR]

Virgin America: "Our first ever second-quarter net profit and year-to-date operating income show that our company is now poised to produce meaningful profitability. As we have reduced our growth from the 30 percent-plus level of the past few years to a more sustainable rate, our network has begun to mature into a profitable one, and our markets continue to show industry-leading RASM growth," David Cush, President and CEO. Source: Company statement, 07-Aug-2013.