September 25, 2012
Virgin America reports second quarter 2012 financial results
Virgin America reported its financial results for the second quarter of 2012. Total operating revenue for the second quarter grew by 29% to $347m on a capacity increase of 32%. The Company narrowed its operating loss to $4m for the second quarter, and improved earnings before interest, depreciation and amortization, and aircraft rental expense (EBITDAR) by 44%, to a record high of $54m. EBITDAR margin for the second quarter rose to 16%, a 1.7 point year-over-year improvement. Year-to-date Virgin America reported total revenue of $614m, a 31% increase year-over-year. Operating loss for the six months ended June 30, 2012, was $53m. Year-to-date the Company has achieved EBITDAR of $61m, an improvement of 23% over the first six months of 2011.