Virgin America operating profit halved in 4Q2014, but increases in FY2014

Virgin America revenue up 3% - financial highlights:

• Three months ended 31-Dec-2014:
• • Total operating revenue: USD372.2 million, +3.4% year-on-year;
  • Total operating costs: USD362.1 million, +7.7%;
  • • Fuel: USD118.5 million, -4.8%;
    • Labour: USD82.0 million, +55.1%;
  • Operating profit: USD10.1 million, -57.2%;
  • Net profit: USD3.9 million, -72.7%;
  • Passenger numbers: 1.6 million, +2.7%;
  • Passenger load factor: 81.2%, +2.7 ppts;
  • Average fare: USD204.33, -1.4%;
  • Yield: USD 13.39 cents, -1.8%;
  • Passenger revenue per ASM: USD 10.87 cents, +1.5%;
  • Total revenue per ASM: USD 12.23 cents, +3.7%;
  • Cost per ASM: USD 11.90 cents, +8.0%;
  • Cost per ASM excl special items, profit sharing and fuel: USD 7.16 cents, +4.2%;
• 12 months ended 31-Dec-2014:
• • Total operating revenue: USD1490 million, +4.6%;
  • Total operating costs: USD1394 million, +3.7%;
  • • Fuel: USD499.1 million, -1.6%;
    • Labour: USD257.4 million, +31.0%;
  • Operating profit: USD96.4 million, +19.2%;
  • Net profit: USD60.1 million, +493%;
  • Passenger numbers: 6.5 million, +2.8%;
  • Passenger load factor: 82.3%, +2.1 ppts;
  • Average fare: USD204.27, +0.3%;
  • Yield: USD 13.19 cents, +0.4%;
  • Passenger revenue per ASM: USD 10.86 cents, +3.1%;
  • Total revenue per ASM: USD 12.17 cents, +4.6%;
  • Cost per ASM: USD 11.38 cents, +3.6%;
  • Cost per ASM excl special items, profit sharing and fuel: USD 7.02 cents, +2.9%. [more - original PR]

Virgin America: "The Company expects capacity, as measured by available seat miles, to increase by approximately 2.0 percent to 3.0 percent for the first quarter of 2015 as compared to the first quarter of 2014. Based on current revenue trends, the Company expects PRASM to change between -1.0 percent and +1.0 percent versus the first quarter of 2014. The Company expects CASM excluding fuel and profit sharing to increase between +1.0 percent and +3.0 percent versus the first quarter of 2014." Source: Company statement, 18-Feb-2015.