Company Overview of Virgin America Inc.
Virgin America Inc. provides scheduled air travel services. As of December 31, 2014, it provided services to 21 airports in the United States and Mexico with a fleet of approximately 53 Airbus single-aisle aircraft, including of 10 Airbus A319s and 43 Airbus A320s. The company was formerly known as Best Air Holdings, Inc., and changed its name to Virgin America Inc. in November 2005. Virgin America Inc. was incorporated in 2004 and is headquartered in Burlingame, California.
555 Airport Boulevard
Burlingame, CA 94010
Founded in 2004
Key Executives for Virgin America Inc.
Chief Executive Officer, President and Director
Total Annual Compensation: $665.0K
Chief Financial Officer and Senior Vice President
Total Annual Compensation: $403.0K
Chief Operating Officer and Director of Operations
Total Annual Compensation: $410.0K
Senior Vice President, General Counsel and Corporate Secretary
Total Annual Compensation: $335.0K
Senior Vice President of People & In-Flight Services
Total Annual Compensation: $335.0K
Compensation as of Fiscal Year 2014.
Virgin America Inc. Key Developments
Virgin America Inc. Provides Preliminary Operating Guidance for the Fourth Quarter and Tax Rate Guidance for the Year Ended December 31, 2015
Feb 5 16
Virgin America Inc. provided preliminary operating guidance for the fourth quarter and tax rate guidance for the year ended December 31, 2015. The company expects a tax rate of approximately 38.5% for full year 2016 but does not anticipate any material cash taxes in 2016 as the company’s federal net operating loss carry-forwards of approximately $690.0 million are expected to offset cash income taxes.
For the quarter, the company’s preliminary calculations for passenger revenue per available seat mile (PRASM) indicate a decrease of approximately 5.1% versus the fourth quarter of 2014. PRASM in the fourth quarter of 2015 was negatively impacted by weaker than expected demand in the month of December and a continued low fare environment in the markets that the company serves from Dallas Love Field. Total RASM (inclusive of other revenue) decreased approximately 4.7% versus the fourth quarter of 2014.
Virgin America Launches Daily Flights from Los Angeles to Hawai'i
Feb 2 16
Virgin America announced that it will service to Hawai'i with daily nonstop flights from Los Angeles International Airport (LAX) to Honolulu, Oahu on May 5, 2016, and Kahului, Maui on June 14, 2016. Virgin America's expanded Hawai'i service also offers roundtrip connections between OGG and Newark Liberty International Airport (EWR), Washington Dulles International Airport (IAD), Boston Logan International Airport (BOS), San Diego International Airport (SAN), Dallas Love Field (DAL), Chicago O'Hare International Airport (ORD), JFK, SEA, and LAS. The daily, nonstop flights will be operated with new Airbus A320 aircraft that Virgin America began taking delivery of last year, which are equipped with fuel-saving, 'sharklet' wingtip devices, allowing the airline to operate flights more efficiently, especially over longer haul routes.
Virgin America Inc. Reports Traffic Results for the Month and Full Year Ended December 2015
Jan 11 16
Virgin America Inc. reported traffic results for the month and full year ended December 2015. For the month, the company reported revenue passenger miles of 928,960,000 against 872,675,000 a year ago. Available seat miles were 1,151,885,000 against 1,053,863,000 a year ago. Passenger load factor was 80.6% against 82.8% a year ago. Onboard passengers were 629,000 against 574,000 a year ago.
For the year, the company reported revenue passenger miles of 10,436,184,000 against 10,074,456,000 a year ago. Available seat miles were 12,690,791,000 against 12,240,319,000 a year ago. Passenger load factor was 82.2% against 82.3% a year ago. Onboard passengers were 7,036,000 against 6,507,000 a year ago.
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