weasel_lips
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Fuel prices drag down Virgin America’s financials
Date: Friday, September 16, 2011, 4:12pm PDT
Related:
Virgin America is battling higher fuel costs
Battling high fuel prices, Virgin America Inc. said its second quarter net loss grew to $21.7 million.
The Burlingame-based carrier said its loss grew almost 40 percent from $15.5 million during the year-ago quarter.
Second quarter sales grew almost 46 percent to $268.5 million. Also its average fare rose to $192.79, up 11 percent.
Fuel prices continue to bedevil the company. “Fuel costs continue to weigh on our financial performance even as we achieve and exceed our revenue targets,” said Virgin America CEO David Cush.
Fuel costs rose 62 percent during the quarter.
The company continues its growth trajectory. In the past year the carrier has added flights to Dallas, Chicago, Los Cabos and Cancun, Mexico. The company’s major hubs are San Francisco and Los Angeles.
The company plans to add planes to its fleet. Virgin America has 38 Airbus A-320s and expects to end the year with 46.
Date: Friday, September 16, 2011, 4:12pm PDT
Related:
Virgin America is battling higher fuel costs
Battling high fuel prices, Virgin America Inc. said its second quarter net loss grew to $21.7 million.
The Burlingame-based carrier said its loss grew almost 40 percent from $15.5 million during the year-ago quarter.
Second quarter sales grew almost 46 percent to $268.5 million. Also its average fare rose to $192.79, up 11 percent.
Fuel prices continue to bedevil the company. “Fuel costs continue to weigh on our financial performance even as we achieve and exceed our revenue targets,” said Virgin America CEO David Cush.
Fuel costs rose 62 percent during the quarter.
The company continues its growth trajectory. In the past year the carrier has added flights to Dallas, Chicago, Los Cabos and Cancun, Mexico. The company’s major hubs are San Francisco and Los Angeles.
The company plans to add planes to its fleet. Virgin America has 38 Airbus A-320s and expects to end the year with 46.