Virgin America reported its financial results for the third quarter of 2011. During a period of significantly higher fuel prices, Virgin America reported a $16.2m operating profit for the quarter, resulting in a 6% operating margin. The airline achieved strong revenue growth, with a 44%increase in operating revenue as compared to the third quarter of 2010. Virgin America reported a $3.3 million net loss and unrestricted cash of $24m. Total fuel costs for the quarter increased by 86% and the Company’s average price per gallon of fuel increased by 43% year-over-year. The increase in fuel costs was the primary factor in a $4.8m decrease in Virgin America’s operating income, as compared to the third quarter of 2010.
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Tamar Jorssen
Vice President Sales & Marketing
+1.778.213.8543
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Richmond, BC V6X 3M1
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada