Virgin America Shows a Profit

Virgin America yesterday reported its financial results for the third quarter of 2013 with operating income of $44.4 million and net income of $33.5 million on total revenue of $387.3 million. The airline posted an operating margin of 11.5 percent – a 7.2 point improvement for the third quarter, driven largely by a 9.4 percent growth in revenue per available seat mile (“RASM”) over the year-earlier period. Third Quarter 2013 Financial Highlights

• Virgin America reported $33.5 million in net income compared to a year-ago loss of $12.6 million, an improvement of $46 million.
• The Company significantly outpaced all U.S. carriers with year-over-year RASM growth of 9.4 percent on a 3.9 percent decrease in capacity. Virgin America has now led the industry in RASM growth every month since October 2012.
• Load factor increased by 0.9 points and yield increased by 7.4 percent year-over-year.
• Operating revenue was $387.3 million, an increase of 5.2 percent from the third quarter of 2012.:cool: