Virgin America caps the theme for US carriers in 2Q2011: falling profits on rising revenues

After losing approximately USD40,000 in the first quarter, Virgin America continued its loss record in the second quarter with USD21 million in net losses, worse than the USD15 million posted in 2Q2010. The airline cited rising fuel costs but, as with its peers, said its operating loss - USD5.6 million - came on rising revenues. Yield alone rose 12.1% to 12.17 cents. The disclosure of Virgin's financials brings to a close the second quarter reporting season which had but a single theme - falling profits on rising revenues - as fuel conspired once again to test airlines.