Virgin America Q1 net profit up 37% to US$17.5m
Virgin America posted a Q1 2016 net profit of US$17.5m, up 36.5% from a net profit of $12.8m in Q1 2015. The carrier’s results were “driven by continued unit revenue outperformance as compared with the domestic industry and the benefit of lower fuel costs,” Virgin America president and CE David Cush said. It is the airline’s eighth consecutive quarter of profitability. Virgin America’s net income excluding special items charged in the 2016 Q1 was $18.4m, up 74.5% year-over-year (YOY). The special charges were primarily related to the proposed merger with the Alaska Air Group. Q1 operating revenue was $364m, up 11.5% YOY; total operating expenses for the quarter were $332.1m, up 6.8% YOY. Operating profit for the quarter was $31.9m, more than doubling the airline’s Q1 2015 $15.4m operating income. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-29/unaligned/virgin-america-q1-net-profit-up-37-to-us-17.5m
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Virgin America Q1 net profit up 37% to US$17.5m
Virgin America posted a Q1 2016 net profit of US$17.5m, up 36.5% from a net profit of $12.8m in Q1 2015. The carrier’s results were “driven by continued unit revenue outperformance as compared with the domestic industry and the benefit of lower fuel costs,” Virgin America president and CE David Cush said. It is the airline’s eighth consecutive quarter of profitability. Virgin America’s net income excluding special items charged in the 2016 Q1 was $18.4m, up 74.5% year-over-year (YOY). The special charges were primarily related to the proposed merger with the Alaska Air Group. Q1 operating revenue was $364m, up 11.5% YOY; total operating expenses for the quarter were $332.1m, up 6.8% YOY. Operating profit for the quarter was $31.9m, more than doubling the airline’s Q1 2015 $15.4m operating income. <br/>
