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Virgin America reports strong 3Q2013 results

13-Nov-2013 2:19 PM

Virgin America revenue up 5% - financial highlights for three months ended 30-Sep-2013:

  • Total operating revenue: USD387.3 million, +5.2% year-on-year;
  • Total operating costs: USD342.9 million, +2.6%;
    • Fuel: USD132.7 million, +7.1%;
    • Labour: USD49.4 million, -12.7%;
  • Operating profit: USD44.4 million, +181%;
  • Net profit: USD33.5 million, compared to a loss of USD12.6 million in p-c-p;
  • Passenger numbers: 1.7 million, -0.2%;
  • Load factor: 80.5%, +0.9 ppt;
  • Average fare: USD209.04, +4.6%;
  • Yield: USD 13.49 cents, +7.4%;
  • Passenger revenue per ASM: USD 10.86 cents, +8.6%;
  • Total revenue per ASM: USD 11.94 cents, +9.4%;
  • Cost per ASM: USD 10.58 cents, -1.3%;
  • Cost per ASM excl fuel: USD 6.48 cents, -4.5%. [more - original PR]

Virgin America: "Our strong financial results demonstrate the success of a series of strategic initiatives that started in late 2012. Reduced capacity growth, a focus on increasing unit revenue, and changes to our capital structure are all contributing to improving results. Although the industry overall is trending in a positive direction, it is notable that Virgin America has consistently led the US industry in RASM growth over the past year. With the leading product in the domestic skies, we are well-positioned to continue building on these results in 2014 and beyond," David Cush, President and CEO. Source: Company statement, 12-Nov-2013.