Virgin America reports 1Q2011 financial results

10-Jun-2011. Virgin America today reports its financial results for the first quarter of 2011. Against the headwinds of significantly higher fuel prices and the resumption of its rapid growth, Virgin America reported a $29.5 million operating loss with its operating margin remaining steady at (14.7) percent. The airline reported strong revenue performance with $201 million in revenues for the first quarter – a 37 percent jump in revenue versus the first quarter of 2010. Virgin America continued to deliver significant unit revenue performance even as it ramped up in new markets, with a 12 percent improvement in revenue per available seat mile (RASM) year-over-year – a period in which the domestic industry’s RASM increased by 10 percent. The airline’s mature capacity RASM growth exceeded this, with performance in the carrier’s established markets improving by 20 percent year-over-year. During the quarter, the carrier’s scheduled capacity increased by 23 percent, compared to the domestic industry’s average capacity increase of one percent for the same period.