Virgin America reports record first quarter profit in 1Q2016

Virgin America revenue up 12% - financial highlights for three months ended 31-mar-2016:

• Total operating revenue: USD364.0 million, +11.5% year-on-year;
• Total operating costs: USD332.1 million, +6.8%;
• • Labour: USD78.9 million, +21.8%;
  • Fuel: USD67.3 million, -24.0%;
• Operating profit: USD31.9 million, +108%;
• Net profit: USD17.5 million, +36.5%;
• Passenger numbers: 1.8 million, +16.0%;
• Passenger load factor: 80.1%, stable;
• Average fare: USD182.7, -3.9%;
• Yield: USD 12.34 cents, -3.7%;
• Passenger revenue per ASM: USD 9.88 cents, -3.8%;
• Total revenue per ASM: USD 11.15 cents, -3.7%;
• Cost per ASM: USD 10.17 cents, -7.8%;
• Cost per ASM excl special items, fuel and profit sharing: USD 7.96 cents, +1.8%;
• Average stage length: 1423 miles, -0.1%. [more original PR]

Virgin America: "Virgin America performed exceptionally well as we entered 2016. We reported record first quarter net income driven by continued unit revenue out performance as compared with the domestic industry and the benefit of lower fuel costs. Importantly, we achieved these results with capacity growth of nearly 16 percent in the first quarter while also maintaining our focus on non-fuel unit costs. The proposed merger with Alaska Air Group recognizes the successful business model we have built at Virgin America in just nine short years," David Cush, President and CE. Source: Company statement, 28-Apr-2016.