Virgin America operating profit down 2% in 3Q2012

Virgin America revenue up 27% - financial highlights for three months ended 30-Sep-2012:

• Total operating revenue: USD368.0 million, +26.6% year-on-year;
• Total operating costs: USD352.2 million, +28.4%;
  • Fuel: USD142.9 million, +29.7%;
  • Aircraft rent: USD56.1 million, +32.3%;
  • Labour: USD43.8 million, +24.1%;
• Operating profit: USD15.8 million, -2.4%;
• Net profit (loss): (USD12.6 million), compared to a loss of USD3.3 million in p-c-p;
• Passenger numbers: 1.7 million, +23.2%;
• Load factor: 79.6%, -4.6 ppts;
• Average fare: USD199.62, +2.5%;
• Yield: USD 12.55 cents, +2.0%;
• Total revenue per ASM: USD 10.91 cents, -3.3%;
• Passenger revenue per ASM: USD 9.99 cents, -3.6%;
• Cost per ASM: USD 10.44 cents, -2.0%;
• Cost per ASM excl fuel: USD 6.20 cents, -2.8%. [more - original PR]

Virgin America: "With restructured growth, an unrivaled product and growing loyalty among business travellers, we're in a position to deliver strong performance in 2013 and beyond. With slowed growth, we will be able to focus on maximising the value of our network, instead of managing additional capacity. As we enter this period of measured growth, we expect the investment in our network to continue to provide improved financial results," David Cush, president and CEO. Source: Company statement, 16-Nov-2012.