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7-May-2012 1:58 PM

Virgin America reports operating loss narrows in 4Q2011

Virgin America revenue up 45% - financial highlights:

  • Three months ended 31-Dec-2011:
    • Total operating revenue: USD276.8 million, +45.2% year-on-year;
    • Total operating costs: USD284.9 million, +41.0%;
      • Fuel: USD111.0 million, +76.7%;
      • Aircraft rents: USD46.9 million, +31.3%;
      • Labour: USD36.7 million, +28.7%;
    • Operating profit (loss): (USD8.1 million), compared to a loss of USD11.4 million in p-c-p;
    • Net profit (loss): (USD30.8 million), compared to a loss of USD25.1 million) in p-c-p;
    • Passenger numbers: 1.4 million, +28.7%;
    • Load factor: 82.4%, -0.9 ppt;
    • Average fare: USD184.75, +14.6%;
    • Revenue per ASM: USD 10.42 cents, +12.2%;
    • Passenger revenue per ASM: USD 9.56 cents, +13.9%;
    • Yield: USD 11.60 cents, +15.3%;
    • Cost per ASM: USD 10.73 cents, +8.9%;
    • Cost per ASM excl fuel: USD 6.55 cents, -3.4%;
    • Average stage length: 1567 miles, -0.9%;
  • 12 months ended 31-Dec-2011:
    • Total operating revenue: USD1037 million, +43.2%;
    • Total operating costs: USD1065 million, +44.5%;
      • Fuel: USD417.8 million, +69.4%;
      • Aircraft rents: USD169.5 million, +39.3%;
      • Labour: USD138.3 million, +27.0%;
    • Operating profit (loss): (USD27.4 million), compared to a loss of USD12.4 million in p-c-p;
    • Net profit (loss): (USD100.4 million), compared to a loss of USD68.7 million in p-c-p;
    • Passenger numbers: 5.0 million, +28.7%;
    • Load factor: 81.5%, stable;
    • Average fare: USD189.05, +12.8%;
    • Revenue per ASM: 10.52 cents, +11.2%;
    • Passenger revenue per ASM: USD 9.65 cents, +12.6%;
    • Yield: USD 11.84 cents, +12.7%;
    • Cost per ASM: USD 10.80 cents, +12.3%;
    • Cost per ASM excl fuel: USD 6.56 cents, +2.5%;
    • Average stage length: 1571 miles, +1.6%. [more – original PR]

Virgin America: "Our core markets are profitable and we expect the new 2011 capacity to turn profitable in 2012,” David Cush, president and CEO. Source: Virgin America, 04-May-2012.

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