Virgin America reports second quarter 2012 financial results

Virgin America reported its financial results for the second quarter of 2012. Total operating revenue for the second quarter grew by 29% to $347m on a capacity increase of 32%. The Company narrowed its operating loss to $4m for the second quarter, and improved earnings before interest, depreciation and amortization, and aircraft rental expense (EBITDAR) by 44%, to a record high of $54m. EBITDAR margin for the second quarter rose to 16%, a 1.7 point year-over-year improvement. Year-to-date Virgin America reported total revenue of $614m, a 31% increase year-over-year. Operating loss for the six months ended June 30, 2012, was $53m. Year-to-date the Company has achieved EBITDAR of $61m, an improvement of 23% over the first six months of 2011.