Virgin America 2Q loss $31.7 million

[ackattacker]

Kind of old news, not sure why it never got posted.

This brings their total loss for the first half of the year to over $100 million, on operating revenue of around $600 million, despite the cost of fuel going down vs 2011. That's just plain bad, although the spin in the press release is priceless as they try to find good things to say.

I hate to predict bad things happening to good pilots, but at this point their total debt must me threating to swallow them up. They are paying roughly $300,000 per day just to service their debt and have shown no signs of profitability.

http://www.virginamerica.com/press-release/2012/virgin-america-2012-second-quarter-results.html

 

[N1atEcon]

Sir Richard will just write another check. It is like reading RJET's financials: Frontier is doing great and is the only part of our holdings that are making money, did we mention it is for sale?

 

[freightdogfred]

The age old secret of making a small fortune in the airline biz- start out with a large one

 

[ackattacker]

Sir Richard will just write another check. It is like reading RJET's financials: Frontier is doing great and is the only part of our holdings that are making money, did we mention it is for sale?

I dunno, Sir Richard might be distracted by his other sinking ship right now.

 

[redflyer65]

I thought they started the quarter with less than 100 million left in the bank. How many more negative quarters can they have?

Doesn't look too good for that IPO.

 

[tzskipper]

I thought they started the quarter with less than 100 million left in the bank. How many more negative quarters can they have?

Doesn't look too good for that IPO.

They ended Q2 with $82m in unrestricted cash. The folks I know there feel Q3 will be shown to be profitable and Q4 should be breakeven to profitable.

Probably a rhetorical question, but what the F drives certain individuals to sound like they would look forward to dancing on the graves of lost jobs, given the chance?

S

 

[Ex737Driver]

They ended Q2 with $82m in unrestricted cash. The folks I know there feel Q3 will be shown to be profitable and Q4 should be breakeven to profitable.

Probably a rhetorical question, but what the F drives certain individuals to sound like they would look forward to dancing on the graves of lost jobs, given the chance?

S

Nobody wants to dance on any pilots grave, except maybe for scabs. I think the point is a large number of us are quite tired of seeing another start-up paying lower than an established carrier, sub-standard benefits, and job protections and career expectations that add up to zilch. Point in case, People Express is attempting to resurface on the East coast again. Why? Not because it will provide good pilot jobs but because some schmo thinks he/they can make some money doing it.

 

[bluefin]

Branson is waiting for some sort of cabotage relaxation in the future and then viola! he has a network inside the US, just like Virgin Australia!

 

[Flyer1015]

Nobody wants to dance on any pilots grave, except maybe for scabs. I think the point is a large number of us are quite tired of seeing another start-up paying lower than an established carrier, sub-standard benefits, and job protections and career expectations that add up to zilch. Point in case, People Express is attempting to resurface on the East coast again. Why? Not because it will provide good pilot jobs but because some schmo thinks he/they can make some money doing it.

VA's pay and benefit package is better than several other A320 operators out there, including legacies.

 

[Eagle757shark]

Nobody wants to dance on any pilots grave, except maybe for scabs. I think the point is a large number of us are quite tired of seeing another start-up paying lower than an established carrier, sub-standard benefits, and job protections and career expectations that add up to zilch. Point in case, People Express is attempting to resurface on the East coast again. Why? Not because it will provide good pilot jobs but because some schmo thinks he/they can make some money doing it.

It's called Captialism! People don't start airlines to "Provide good pilot Jobs". You really believe that? It's a business that hopefully can compete and become profitable. They pay what the market will allow. They charge what the customer is willing to pay. That's what American Captialism in a free market society is all about.