Big va 1st quarter loss

[a320drivr]

35.5 million

 

[fifinella]

On a positive note, VA is the official airline for the San Francisco Lesbian, Gay, Bisexual, Transgender Pride Celebration for the 3rd year in a row. Congratulations!

Virgin America Named Official Airline of SF Pride Parade's 40th Anniversary





San Francisco's Hometown Airline Proudly Partners with SF Pride Parade for Third Consecutive Year

http://photos.prnewswire.com/prn/20090123/VIRGINAMERICALOGO

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SAN FRANCISCO,June 23 /PRNewswire/ -- Virgin America, the only airline headquartered in San Francisco, today announced a partnership with SF Pride, the nation's largest LGBT event, for the third year in a row. As the "Official Airline of SF Pride," Virgin America will once again partner with the local LGBT Pride Celebration Committee for the world-famous, one-of-a-kind SF Pride Parade and Celebration for the organization's historic 40th year.
(Logo: http://photos.prnewswire.com/prnh/20090123/VIRGINAMERICALOGO)
(Logo: http://www.newscom.com/cgi-bin/prnh/20090123/VIRGINAMERICALOGO)
"As San Francisco's hometown airline, SF Pride is one of our favorite events of the year – and we couldn't be more proud to again be a part of this celebration and support SF Pride's important work to educate the Bay Area and celebrate the LGBT community. The spirit that surrounds SF Pride is like nothing else," said Porter Gale, Vice President of Marketing at Virgin America. "In addition, to our fabulous, award-winning float, we're pleased to welcome SF Pride attendees who are flying in from all over the nation in high style."
Virgin America will partner with SF Pride for yet another memorable presence at this year's historic parade. In addition to the hundreds of Virgin America teammates who will take to the streets for the parade, Virgin America will show that it knows how to make an entrance on Market Street with its "Fabulous Flights. Fabulous Fares" float and our DJ "50 Pound Note," a local San Francisco DJ and also is an employee at Virgin America. Last year's Virgin America float took home the award for "Absolutely Fabulous Musical Contingent."
In addition to the rocking parade party, Virgin Group Founder Sir Richard Branson is asking Pride-goers to submit their ultimate Beauty Queen Acceptance speech – with the best entry scoring the seat of honor onboard our Pride float on June 27. Sir Richard posted a special video on Virgin America's Facebook page about the contest today at: www.facebook.com/VirginAmerica .
The airline will welcome onboard those traveling from all over the country who will take part in the festivities. Special SF Pride guests will kick off their journey to the event in fabulous style on board Virgin America's new planes, which feature hip moodlighting, custom-designed leather seats, touch-screen personal entertainment systems with on-demand food and beverage ordering and Skymall shopping, and of course WiFi on every flight. This year's parade-goers can update their Facebook status, Tweet, and chat with fellow Pride-Paraders on Virgin America's seat-to-seat chat system while onboard their Virgin America flight at 35,000 feet en route to San Francisco.
"We're so excited to have Virgin America 'onboard' again this year," said Amy Andre, Executive Director of SF Pride. "Virgin America's support for our community – and our organization – is truly something to be proud of."
This year marks the 40th Anniversary of SF Pride, which will be held this coming weekend June 26-27, 2010.
Virgin America is poised for continued major growth and expects to add over 1,000 employees in the next two years and take delivery of six additional aircraft in 2010. By the end of 2011, the airline expects that its fleet will have grown by almost two-thirds. Virgin America recently announced the addition of routes to Toronto (starting June 23) and Orlando (fall of 2010) and plans to launch at least three more new destinations in 2010. The airline's decision to headquarter in San Francisco and subsequent growth has made San Francisco International Airport (SFO) one of the nation's few growing airports. In 2011, the airline will become one of two anchor tenants in SFO's newly designed Terminal Two.
EDITORS NOTE: Virgin America is a U.S. controlled and operated airline. Sir Richard Branson's Virgin Group is a minority share investor in Virgin America.
About Virgin America: Headquartered in San Francisco and launched in August 2007, Virgin America is one of the fastest growing start-up U.S. airlines of all time and currently employs over 1600 people. Virgin America offers guests attractive fares and a host of innovative features. The airline's base of operations is San Francisco International Airport's International Terminal. The airline's 28 new Airbus A320-family aircraft offer interactive in-flight entertainment systems and power outlets near every seat for electronic gear. Virgin America offers in-flight internet service on every flight and hosts the largest in-flight entertainment library in the U.S. skies via its touch-screen Red™ seatback system. Elevate is Virgin America's first-of-its-kind loyalty program, which offers guests the ability to redeem points for any unsold seat — on any Virgin America flight, at any time. For more: www.virginamerica.com

SOURCE Virgin America
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[a320drivr]

I thought jb had that honor?

 

[clickclickboom]

By the way JB is the gayest airline on the planet just to clear that up

Why cant this country have a heterosexual celebration day?


On another note VA has a -14.7% margin. That is just horrid. I am sure Q2 will not be as bad but going into fall we will see a repeat of Q1. How long will VA dump seats at a loss to gain market share? Will the revenue stay strong when they are forced to raise fares by over $100 just to break even?

Branson has the bucks but how long does this charade go on? 50? 75 jets?

 

[N1atEcon]

Whats the deal with all this month long celebration crap?

Gay pride month, black history month ect.

How about: My great grandparents sold everything, got on a ship, sailed acroos the Atlantic and then filled out the paperwork, learned english and then became a legal US citizen day?

 

[Pitot]

They ended the Q4 last year with $22 million in cash and $107 million in an irrevocable line of credit. They must have gone with the line of credit huh?

 

[ualdriver]

Here's there consolidated statement from their website. I wonder if they secure additional liquidity somehow?

 

[kf4amu]

They ended the Q4 last year with $22 million in cash and $107 million in an irrevocable line of credit. They must have gone with the line of credit huh?

A loss doesnt necessarily equate to a cash expense.

 

[NEDude]

They ended the Q4 last year with $22 million in cash and $107 million in an irrevocable line of credit. They must have gone with the line of credit huh?

A quote from the press release:

"The airline ended the first quarter of 2010 with $28 million in unrestricted cash and $102 million in total liquidity."

Cash position improved in the first quarter, up $6 million.

Another quote:
“Despite the near doubling of fuel costs during the quarter, our top line progress continues to exceed our expectations and we remain on track for full year operating profit in 2010”

 

[Splert]

A quote from the press release:

"The airline ended the first quarter of 2010 with $28 million in unrestricted cash and $102 million in total liquidity."

Cash position improved in the first quarter, up $6 million.

My income still doesn't cover my expenses but I paid my electric bill with my credit card and deposited cash into my savings and I still have $14,300 credit limit on my Capital One card.

Another quote:
“Despite the near doubling of fuel costs during the quarter, our top line progress continues to exceed our expectations and we remain on track for full year operating profit in 2010”

Operating profits are neat but net income is better. I don't think VA has ever generated a net income.