Virgin America reports operating profit growth but net decline in 2Q2016

Virgin America revenue up 6% - financial highlights:

• Three months ended 30-Jun-2016:
• • Total operating revenue: USD425.7 million, +6.2% year-on-year;
  • Total operating costs: USD356.6 million, +7.0%;
  • • Labour: USD83.1 million, +11.2%;
    • Fuel: USD74.4 million, -20.6%;
  • Operating profit: USD69.2 million, +2.2%;
  • Net profit: USD38.1 million, -41.4%;
  • Passenger numbers: 2.1 million, +15.6%;
  • Load factor: 85.8%, +0.7 ppt;
  • Yield: USD 11.93 cents, -9.7%;
  • Total revenue per ASM: USD 11.54 cents, -7.9%;
  • Passenger revenue per ASM: USD 10.23 cents, -9.0%;
  • Cost per ASM excl fuel: USD 7.65 cents, +2.3%;
  • Average fare: USD180.92, -9.2%;
  • Average stage length: 1450 miles, +2.0%;
• Six months ended 30-Jun-2016:
• • Total operating revenue: USD789.7 million, +8.6%;
  • Total operating costs: USD688.6 million, +6.9%;
  • • Labour: USD162.0 million, +16.1%;
    • Fuel: USD141.7 million, -22.3%;
  • Operating profit: USD101.1 million, +21.7%;
  • Net profit: USD55.6 million, -28.6%;
  • Passenger numbers: 3.9 million, +15.7%;
  • Load factor: 83.1%, +0.4 ppt;
  • Yield: USD 12.11 cents, -7.1%;
  • Total revenue per ASM: USD 11.36 cents, -6.0%;
  • Passenger revenue per ASM: USD 10.07 cents, -6.6%;
  • Cost per ASM excl fuel: USD 7.87 cents, +2.6%;
  • Average fare: USD181.74, -6.8%;
  • Average stage length: 1437 miles, +1.0%;
  • Total assets: USD1896 million;
  • Cash and cash equivalents: USD601.1 million;
  • Total liabilities: USD1011 million. [more - original PR]