Virgin America reports first operating profit in 3Q2009; expects annual profit in 2010

Virgin America continues to report significantly improved financial results in the three months ended Sep-2009 (3Q2009), with the carrier reporting its first quarterly operating profit, a double-digit year-over-year revenue improvement, record load factors and improved unit costs in the quarter. [1693 words]

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This report contains the following subheadings:

• Notable operating profit turnaround; improved net loss in 3Q2009
• Significant top line progress
• “Record” load factors
• But cash levels shrink
• Fort Lauderdale becomes the carrier’s 10th city
• Sets sights for more growth
• To add six to eight aircraft in 2010
• An end in sight for the carrier’s ownership debacle? Ownership structure expected to be approved by year-end
• Codeshare agreement with South African Airways

This report contains the following charts and tables:

• Virgin America financial highlights for three months ended 30-Sep-2009
• Virgin America operating margins: 4Q2007 to 3Q2009
• Virgin America revenue growth and cost growth: 4Q07 to 3Q09
• Virgin America revenue per ASM and cost per ASM: 4Q07 to 3Q09
• Virgin America ASM growth and passenger load factor: 4Q07 to 3Q09
• Virgin America destination map: Dec-2009
• Virgin America fleet: as at Dec-2009