Virgin America boosts Q2 operating profit to $47m

Washington DC
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Virgin America has posted a 69.1% surge in second quarter operating profit to $47.1 million, as the airline prepares to go public.

Operating revenue at the Burlingame, California-based carrier grew 6.1% to $399 million for the period, while operating expenses rose 1% to $351 million.

The carrier's net profit for the second quarter more than tripled to $37 million, up from $8.85 million a year ago.

Passenger revenue per available seat mile rose 6.6% to 11.17 cents, and the carrier's cost per available seat mile excluding fuel increased 3.9% to 6.87 cents.

Passenger traffic at the carrier declined 0.1% during the quarter and capacity was down 1.6%, resulting in a 1.2 percentage point growth in load factor to 84.9%.

Virgin America filed for an initial public offering in July, almost seven years after it launched flights.