Virgin America sets sights on Toronto. Financial performance improving

After giving JetBlue a little heartburn on its transcontinental routes, Virgin America wants to do the same to Air Canada and the other North American legacies. It is spreading its wings in its first expansion into international routes with new services to Toronto Pearson International Airport from San Francisco and Los Angeles, from 23-Jun-2010. The move comes as Virgin America edges closer to posting consistently profitable operations across its network. [1709 words]

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This report contains the following subheadings:

• "Eat and drink with your relatives; do business with strangers" - Greek Proverb
• Virgin America reports loss in second full year of operation
• Fourth quarter loss, following quarter of profitability in third quarter
• Driving growth against the backdrop of a contracting industry
• To continue focus on unit cost reductions
• But cash levels shrink
• Sets sights for more growth
• Optimistic of improved revenue environment, but profitability remains a challenge

This report contains the following charts and tables:

• Virgin America financial highlights for 12 months ended 31-Dec-2009
• Virgin America financial highlights for three months ended 31-Dec-2009
• Virgin America operating loss margins: 4Q2007 to 4Q2009
• Virgin America revenue growth and cost growth: 4Q2007 to 4Q2009
• Virgin America ASM growth and passenger load factor: 4Q2007 to 4Q2009
• Virgin America revenue per ASM and cost per ASM: 4Q2007 to 4Q2009
• Virgin America current network capacity (seats) by destination: Apr-2010
• Virgin America fleet: Apr-2010