Virgin America reports third quarter 2014 earnings

Virgin America reported its financial results for the third quarter of 2014 with an operating income of $52.3m and net income of $41.6m. The airline posted an operating margin of 12.9% – a 1.4 point improvement over the third quarter of 2013, driven largely by a 5.5% growth in revenue per available seat mile (RASM) over the prior year period. Net income for the quarter increased 24.2% year-over-year, from $33.5m to $41.6m. Virgin America’s year-to-date net income improved by $60.2m from a net loss of $4.0 million for the nine months ended September 30th, 2013, to net income of $56.2m for the nine months ended September 30th, 2014. Unrestricted cash was $184.5m as of September 30th, 2014.