Let the losses be reported!
Virgin America Inc. must disclose financial and traffic data it sought to keep confidential over concerns that rivals would use it to better compete with the startup airline.
The U.S. Department of Transportation said that it did not agree with Virgin America's contention that release of the data "will likely cause substantial harm" to the airline.
Burlingame-based Virgin America earlier this year asked federal regulators not to make financial information available to the public -- or its rivals. Allowing other airlines to see its costs, revenue or pricing would "substantially harm its competitive position," Virgin America said in papers filed with the government.
The department regularly releases financial and traffic data about all major U.S. airlines.
Virgin America's request was criticized by rivals like United Airlines Inc. (NASDAQ:UAUA), American Airlines Inc. (NYSE:AMR), Delta Air Lines Inc. (NYSE
AL) and others. Those carriers said: "It is fundamentally unfair for those who choose to game the system to keep their traffic and financial data from competitors."
The transportation department did grant Virgin America's request to keep some data confidential. For example, the DOT will not publish figures on aircraft costs or asset depreciation.