June 23, 2014
Virgin America reports first quarter 2014 financial results
Virgin America reported its financial results for the first quarter of 2014. The airline significantly narrowed its net loss from the same period in 2013 with a 51.8% year-over-year improvement. Virgin America reported total operating revenue of $313.4m, an increase of 4.0% over the first quarter of 2013. First quarter 2014 operating loss of $13.1m was a $1.9m improvement over Virgin America’s operating loss in the year prior. Operating margin improved by 0.8% year-over-year. Virgin America reported a net loss of $22.4m for the quarter, compared to a net loss a year ago of $46.4m, resulting in a $24.0m year-over-year improvement. Unrestricted cash was $132.9m as of March 31st, 2014, an increase of $74.8m since March 31st, 2013.