Originally Posted by
Systemized
Virgin America is set up for failure.
The industry can only hope.
Originally Posted by
KoruPilot
How do you figure that?
Here's how:
Originally Posted by
KoruPilot
Results are as below:
Third Quarter 2011 Reporting Highlights:
Operating results: The airline reported a $16.2 million operating profit in the third quarter and a $3.3 million net loss. The airline's yield per passenger mile was 12.3 cents , up 10 percent compared to the third quarter of 2010.
Virgin America's average fare increased 5 percent over the prior year. ($3.3 million net loss)
Cash: The airline ended the quarter with $24 million in unrestricted cash and $42 million in total liquidity. This excludes the latest debt facility, which closed in December 2011..($3.3 million net loss)
No matter how much lipstick you apply, a pig is still a pig. Remember, ONE PROFITABLE QUARTER in
4 years.
Originally Posted by
More Bacon
As a privately-held company, are they held to the same accounting standards as a publicly traded company?
They're certainly not held to the same reporting standards, therefore they can cook the books.