Virgin America's profit rises on lower fuel costs
Virgin America posted a jump in its earnings on a sharp drop in fuel costs, the latest airline to benefit from low oil prices. Virgin America said fuel costs fell 33% in the latest quarter, while unit revenue declined 5.1%. Capacity expanded during the quarter by 10% compared with the same period last year. During the quarter, Virgin—which launched service last year from its base in San Francisco to Honolulu and Maui—said it planned to expand that service to those airports from Los Angeles this spring. The quarter's profit included a noncash gain of US$173.5m related to an income tax allowance. The company posted a profit of $190.9m, up from $3.9m a year earlier. Revenue climbed 5.2% to $391.5m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-19/unaligned/virgin-americas-profit-rises-on-lower-fuel-costs
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Virgin America's profit rises on lower fuel costs
Virgin America posted a jump in its earnings on a sharp drop in fuel costs, the latest airline to benefit from low oil prices. Virgin America said fuel costs fell 33% in the latest quarter, while unit revenue declined 5.1%. Capacity expanded during the quarter by 10% compared with the same period last year. During the quarter, Virgin—which launched service last year from its base in San Francisco to Honolulu and Maui—said it planned to expand that service to those airports from Los Angeles this spring. The quarter's profit included a noncash gain of US$173.5m related to an income tax allowance. The company posted a profit of $190.9m, up from $3.9m a year earlier. Revenue climbed 5.2% to $391.5m. <br/>
