December 27, 2014 6:00 PM ET

Airlines

Company Overview of Virgin America Inc.

Company Overview

Virgin America Inc., a low-cost airline, provides scheduled air travel services in the continental United States and Mexico. As of March 31, 2014, it operated through a fleet of 53 Airbus single-aisle aircraft, including ten Airbus A319s and 43 Airbus A320s. The company was formerly known as Best Air Holdings, Inc., and changed its name to Virgin America Inc. in November 2005. Virgin America Inc. was incorporated in 2004 and is headquartered in Burlingame, California.

555 Airport Boulevard

Burlingame, CA 94010

United States

Founded in 2004

2,428 Employees

Phone:

650-762-7000

Key Executives for Virgin America Inc.

Chief Executive Officer
Age: 54
Total Annual Compensation: $657.5K
Chief Financial Officer and Senior Vice President
Age: 44
Total Annual Compensation: $398.8K
Senior Vice President
Age: 58
Total Annual Compensation: $331.5K
Senior Vice President of People & In-Flight Services
Age: 61
Total Annual Compensation: $331.5K
Senior Vice President of Planning & Sales
Age: 54
Total Annual Compensation: $306.5K
Compensation as of Fiscal Year 2013.

Virgin America Inc. Key Developments

Virgin America Begins New Daily Nonstop Seasonal Service Between New York's John F. Kennedy International Airport and Fort Lauderdale International Airport

Virgin America announced it has begun new daily nonstop seasonal service between New York's John F. Kennedy International Airport and Fort Lauderdale International Airport. In addition to the new seasonal daily service to Fort Lauderdale, the airline is adding a second weekly flight to its seasonal service between JFK and Palm Springs.

Virgin America Announces Codeshare Deal with China Eastern Airlines Corp. Ltd

Virgin America and China Eastern announced a codeshare agreement to offer seamless booking and travel from Shanghai, China to multiple destinations across the United States. The new agreement will see China Eastern place its two-digit flight code (MU) on a range of Virgin America routes from Los Angeles and San Francisco - including West Coast flights to Boston, Chicago, Dallas Love Field, Fort Lauderdale, Las Vegas, Newark, New York (JFK), Seattle, San Diego and Washington Dulles (IAD). This will open a world of choice and convenience for travel between Asia, China, and the United States, offering a one-stop booking process and one-stop check-in, including seamless boarding passes and baggage handling for the entire journey. Codeshare flights can be booked for travel from December 17, 2014. The two airlines also announce that starting next year the two airlines will launch reciprocal frequent flyer benefits. Members of China Eastern's frequent flyer program will be able to earn Eastern Miles when traveling on all Virgin America flights and redeem their Eastern Miles for reward flights on all Virgin America routes. Members of Virgin America's Elevate frequent flyer program will also be able to earn Elevate points when flying across China Eastern's network as well as redeem their Elevate points for international reward flights on any route operated and marketed by China Eastern.

Virgin America Reports Preliminary Operational Results for the Month and Year to Date Ended November 2014

Virgin America reported preliminary operational results for the month and year to date ended November 2014. For the month, the company’s revenue passenger miles were 789,884,000 compared to 719,479,000 reported in the same period a year ago. Available seat miles were 1,001,984,000 compared to 988,724,000 a year ago. Passenger load factor was 78.8% compared to 72.8% a year ago. Onboard passengers were 522,000 compared to 476,000 a year ago. For the year to date, the company’s revenue passenger miles were 9,202,961,000 compared to 8,956,067,000 reported in the same period a year ago. Available seat miles were 11,186,456,000 compared to 11,194,863,000 a year ago. Passenger load factor was 82.3% compared to 80.0% a year ago. Onboard passengers were 5,934,000, compared to 5,769,000 a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 19, 2014
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