In Europe it takes at least 5 years operating with loss before even thinking about making a profit when starting an Airline and these first 5 years are seen as normal investment time.

Virgin america is showing better than expected numbers and the budget is if I recall to make a yearly $250 million loss per year the first 3 operating years. I dont know in what fiscal year they are at the moment.........

Loadfactor numbers is extremly important in a startup even if operating with loss. This to establish the brand and get the operation going. Growth and more effective operations gives the profit after a few years if loadfactor numbers are good........ticket prices etc can always be changed when the brand is established but if you do not have the loadfactor you cannot do anything........