Virgin America reports fourth quarter 2012 and first quarter 2013 financial results

Virgin America achieved its first-ever fourth quarter operating profit with $5.1m of operating income, an improvement of $13.2m, compared with the fourth quarter of 2011. The airline recorded operating revenues of $350.4 million in the fourth quarter, a year-over-year increase of 27%. EBITDAR increased to $65.1m in the fourth quarter, a year-over-year improvement of 54%. The airline held $76m in unrestricted cash as of December 31, 2012. In the first quarter 2013 Virgin America reduced its operating loss by $33.6m or 69% year-over-year, posting a modest operating loss of $15m. Operating revenues were $301.3m, an increase of 13% from the first quarter of 2012. EBITDAR increased seven fold to $44.7m from $6.5m in the same period a year-ago. Unrestricted cash was $58m as of March 31, 2013.