Virgin America reports second quarter 2011 financial results

For the second quarter of 2011 Virgin America recorded a $6.0 million operating loss and an operating margin of (2.2)%.  The airline achieved revenue growth during the quarter, with a 46% increase in operating revenue as compared to the second quarter of 2010. Total fuel costs increased by 62% and the Company’s average price per gallon of fuel increased by 26% year-over-year.  The increase in fuel costs were the primary factor in a $5.6 million increase in Virgin America’s operating loss, as compared to the second quarter of 2010. The airline ended the quarter with $26 million in unrestricted cash and $53 million in total liquidity.