Virgin America is nearly 3, and still losing money

A Virgin America passenger carrier. Credit sillygwalio.

By Joe Brancatelli

Privately-held Virgin America Airlines would have you believe it’s going great guns as it celebrates its third anniversary in August. But the facts, as reflected in the first quarter results that the airline released last month, tell a different story. Yes, the airline registered $147 million in revenue in the first quarter, a 46 percent jump compared to the first quarter of 2009. And, yes, its load factor passed 75 percent despite a huge jump in seat capacity. Yet it rang up $22 million in operating losses compared to $30 million in the first quarter of 2009. Its net loss for the quarter was $35 million, only fractionally better than the $40 million net loss it rang up last year.

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