November 24, 2014 3:31 AM 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

2,500 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 Inc. Reports Unaudited Consolidated Financial and Production Results for the Third Quarter and Nine Month Ended September 30, 2014

Virgin America Inc. reported unaudited consolidated financial and production results third quarter and nine months ended September 30, 2014. For the quarter, revenue passenger miles were 2,685 million, compared to 2,612 million reported in the same period a year ago. Available seat miles were 3,217 million, compared to 3,243 million, a year ago. Passenger load factor was 83.5% compared to 80.5% a year ago. Onboard passengers were 1,680,000, compared to 1,685,000 a year ago. RASM increased 5.5% compared to the third quarter of 2013, to 12.60 cents. Year-over-year RASM growth was driven by a 0.6% increase in yield and a 3.0 point increase in load factor. For the first nine months ended August 2014, revenue passenger miles were 7,602,768,000, compared to 7,417,451,000 reported in the same period a year ago. Available seat miles were 9,196,355,000, compared to 9,190,756,000 a year ago. Passenger load factor was 82.7% compared to 80.7% a year ago. Onboard passengers were 4,888,000, compared to 4,752,000 a year ago. For the third quarter of 2014, the company reported operating income of $52.325 million against $44.396 million, a year ago. Net income was $41.608 million against $33.503 million, for the same period of last year. Total operating revenue was $405.534 million against $387.345 million for the same period of last year. Income before taxes was $42.320 million against $33.503 million for the same period of last year. For the nine months, total operating revenue was $1,117,769,000 against $1,064,750,000 for the same period of last year. Operating income was $86.320 million against $57.292 million, for the same period of last year. Net income was $56.237 million against net loss of $4.036 million, for the same period of last year. Income before taxes was $57.265 million against loss before taxes of $4.036 million for the same period of last year.

Virgin America Launches its New Service from New York's LaGuardia Airport with Four Daily Nonstop Flights to Dallas Love Field

Virgin America launched its new service from New York's LaGuardia Airport (LGA) with four daily nonstop flights to Dallas Love Field (DAL). From today, the airline is now servicing all three major airports in New York, providing guests with more choice and convenience when travelling from the East Coast, with now up to 20 flights departing the New York metropolitan area each day. Virgin America has already built a loyal following of bi-coastal flyers with its nonstop flights from LAX and SFO to New York's John F. Kennedy International Airport (JFK) and Newark Liberty International Airport (EWR). Virgin America's new LGA service is perfectly tailored to the modern business traveler -- offering both business-friendly amenities onboard and convenient airport options. Dallas' beautifully renovated Love Field is a 10-minute car ride to that city's downtown business district and LaGuardia offers convenient access for those headed to or from Manhattan. Virgin America will be the only carrier on the Dallas Love Field to LaGuardia routes to offer a consistent, upscale product on every flight -- with three classes of service (including a First Class cabin and a Main Cabin Select premium economy service) as well as fleetwide WiFi, power outlets at every seat, confirmed seating, an award-winning full service food menu and touch-screen seatback entertainment available for every guest. To kick off the new flights, Virgin America is offering a celebratory "Go Nonstop to the Big Apple" fare sale with fares starting from $89.

Virgin America Launches Codeshare Arrangement with China Airlines

Virgin America announced the implementation of a codeshare arrangement with China Airlines that will offer customers seamless bookings and travel between Taipei, Taiwan, elsewhere in Asia and multiple destinations across the United States. The new codeshare agreement, involves China Airlines placing its two-letter airline code (CI) on a range of Virgin America markets including flights between Los Angeles and/or San Francisco to Boston, Chicago, Dallas Love Field, Fort Lauderdale, Las Vegas, Newark, New York (JFK), Seattle and Washington Dulles (IAD).

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