Virgin America reports 46% increase in revenue year-over-year

Virgin America reported its financial results for the first quarter of 2010. The airline reported revenue increase of 46% versus the first quarter of 2009. Unit revenue increased by 21% year-over-year. The airline reported a $22 million operating loss on revenues of $147 million during the quarter. Virgin America narrowed its operating loss by $9 million year-over-year in the first quarter, improving its operating margin by 15.5 points.