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
Virgin America Announces Operating Results for the Month and Year to Date Ended April 2015
May 7 15
Virgin America announced operating results for the month and year to date ended April 2015. For the month, the company reported revenue passenger miles of 889,380,000 compared to 865,293,000 a year ago. Available Seat Miles were 1,041,964,000 compared to 1,029,492,000 a year ago. Passenger Load Factor was 85.4% compared to 84.1% a year ago. Onboard Passengers were 587,000 compared to 560,000 a year ago.
For the year to date, the company reported revenue passenger miles of 3,146,075,000 compared to 3,064,121,000 a year ago. Available Seat Miles were 3,860,839,000 compared to 3,806,758,000 a year ago. Passenger Load Factor was 81.5% compared to 80.5% a year ago. Onboard Passengers were 2,110,000 compared to 2,040,000 a year ago.
Virgin America Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Operating Guidance for the Second Quarter of 2015
Apr 30 15
Virgin America Inc. reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported total operating revenue of $326,351,000 against $313,390,000 for the same period a year ago. Operating income was $15,383,000 against operating loss of $13,131,000 for the same period a year ago. Income before taxes was $13,110,000 against loss before taxes of $22,305,000 for the same period a year ago. Net income was $12,786,000 or $0.29 per diluted share against net loss of $22,354,000 or $31.86 per diluted share for the same period a year ago. On non-GAAP basis, operating income was $13,120,000, income before taxes was $10,847,000 and net income was $10,523,000. Net income, excluding special items for the first quarter of 2015, was $10.5 million, which is a year-over-year increase of $32.9 million from a net loss recorded in the first quarter of 2014. Operating cash flow for the quarter was $33.1 million, which was a major improvement over operating cash flow of just $4.3 million in the first quarter of 2014. Cash used in investing activities during the quarter was $9.5 million, and that was primarily for predelivery payments on upcoming aircraft deliveries as well as routine CapEx to support the operation.
For the period, the company reported available seat miles of 2,819 million against 2,777 million for the same period a year ago. The company reported revenue passenger miles of 2,257 million against 2,199 million for the same period a year ago.
The company’s expectations for the second quarter of 2015 are based on currently available information. The company expects capacity, as measured by available seat miles, to decrease by approximately 0.0% to 1.0% for the second quarter of 2015 as compared to the second quarter of 2014. Based on current revenue trends, the company expects Passenger revenue per available seat mile (PRASM) to decrease between 0.0% and 2.0% versus the second quarter of 2014. The company expects CASM excluding fuel and profit sharing to increase between 8.0% and 10.0% versus the second quarter of 2014. CASM excluding fuel and profit sharing is increasing in the second quarter due to a decrease in average stage length year-over-year of approximately 4.0%, additional maintenance costs expected during the quarter, and previously announced increases in salaries, wages and benefits. The company is targeting a full year 2015 increase in CASM, excluding fuel and profit sharing, of approximately 7.0% to 9.0%, primarily due to the previously announced increase in salaries, wages and benefits and to a decrease in average stage length. In 2016, the company is currently targeting CASM, excluding fuel and profit sharing, to remain flat year-over-year.
Virgin America Inc. to Report Q1, 2015 Results on Apr 30, 2015
Apr 16 15
Virgin America Inc. announced that they will report Q1, 2015 results at 2:00 PM, GMT Standard Time on Apr 30, 2015