Virgin America Reports 400% Increase in Profit
Virgin America announced financial results for the second quarter of 2014. The airline’s operating profit in the second quarter was $36.983 million, a significant year-over-year increase of over 400% from $8.849 million in the second quarter of 2013.
Passenger revenue in the second quarter also increased, up by 4.9% year-over-year to $357.619 million from $341.027 million in the same period last year. Passenger revenue per available seat mile, or Prasm, increased by 6.6% year-over-year.
The airline’s traffic in the second quarter was 2.719 billion revenue passenger miles, or RPMs, a slight year-over-year decrease of 0.1% from 2.723 billion RPMs in the second quarter of 2013. Capacity for the quarter also dropped, down 1.6% to 3.202 billion available seat miles, or ASMs, from 3.253 billion ASMs last year.
Meanwhile, passenger load factor in the second quarter increased by 1.2 percentage points to 84.9% from 83.7% in the second quarter of 2013.
(Photo: Accura Media Group)