VA's Financials?
09-06-2008, 06:21 PM
#1
On Reserve
Thread Starter
Joined APC: Mar 2008
Posts: 16
VA's Financials?
When is VA going to post their financials?
09-06-2008, 06:35 PM
#2
Banned
Joined APC: Sep 2007
Posts: 1,480
They don't. They're privately held and are not required to.
09-09-2008, 04:32 PM
#3
Gets Weekends Off
Joined APC: Jul 2007
Posts: 160
Not quite true......
They are required to report their DOT numbers including balance sheets and cash flows. This is a DOT requirement. They tried to fight it saying reporting would cause "substantial competitive harm". The request was denied by the DOT, stating that to do so would be "highly unfair to other reporting carriers".
Virgin America has yet to file a form 41 with the DOT reporting the required data.
http://boardingarea.com/blogs/joesha...in-america.pdf
They are required to report their DOT numbers including balance sheets and cash flows. This is a DOT requirement. They tried to fight it saying reporting would cause "substantial competitive harm". The request was denied by the DOT, stating that to do so would be "highly unfair to other reporting carriers".
Virgin America has yet to file a form 41 with the DOT reporting the required data.
http://boardingarea.com/blogs/joesha...in-america.pdf
09-14-2008, 05:11 PM
#4
AAmerican Way for AA Pay
Joined APC: Oct 2005
Position: B-737 Pilot
Posts: 1,617
Originally Posted by Green Banana
Not quite true......
They are required to report their DOT numbers including balance sheets and cash flows. This is a DOT requirement. They tried to fight it saying reporting would cause "substantial competitive harm". The request was denied by the DOT, stating that to do so would be "highly unfair to other reporting carriers".
Virgin America has yet to file a form 41 with the DOT reporting the required data.
http://boardingarea.com/blogs/joesha...in-america.pdf
They are required to report their DOT numbers including balance sheets and cash flows. This is a DOT requirement. They tried to fight it saying reporting would cause "substantial competitive harm". The request was denied by the DOT, stating that to do so would be "highly unfair to other reporting carriers".
Virgin America has yet to file a form 41 with the DOT reporting the required data.
http://boardingarea.com/blogs/joesha...in-america.pdf
09-15-2008, 02:47 AM
#5
Line Holder
Joined APC: Mar 2008
Posts: 60
Originally Posted by B757200ER
100% true, GB. They'll have to release it soon.
09-15-2008, 04:24 AM
#6
Gets Weekends Off
Joined APC: Jan 2007
Posts: 401
Just to set the record straight Fishfreighter & Green Bananna, VA has been filing the forms under confidentiality all along. An appeal was filed to the finding you linked to GB.
The last two paragraphs of the linked letter tell the tale. The DOT is still working the appeal. Don't ask me any whys or for any updates, I don't know and wouldn't say here if I did. I will say I see no signs of impending financial doom from line ops.
Rest assured the board of directors is well aware of the financials.
The last two paragraphs of the linked letter tell the tale. The DOT is still working the appeal. Don't ask me any whys or for any updates, I don't know and wouldn't say here if I did. I will say I see no signs of impending financial doom from line ops.
Rest assured the board of directors is well aware of the financials.
09-17-2008, 01:53 PM
#7
Gets Weekends Off
Joined APC: Jul 2007
Posts: 160
Originally Posted by A320 Pilot
I guess once you and Capt.GB see the financial report of Virgin America,you will be getting in line to come on board.
09-17-2008, 07:09 PM
#8
Gets Weekends Off
Joined APC: Jan 2006
Posts: 1,542
Originally Posted by A320 Pilot
I guess once you and Capt.GB see the financial report of Virgin America,you will be getting in line to come on board.
I have been around this industry a long time. I have seen many airlines start up, make or loose money, and either succeed or go down the tubes.
In all that time, I have never seen a worse financial statement than VA's first 1.5 month loss of $38 million dollars during a quarter when most major airlines made $250 million or more.
VA is still flying today because Sir Richard and other investors are pumping hundreds of millions of dollars into it. Have they turned a profit yet? Noway!
09-17-2008, 08:35 PM
#9
Line Holder
Joined APC: Apr 2008
Posts: 93
Flyer,
To expand a little on the quarter that you are concerned about, I believe that VA only derived revenues for approximately 1/2 of it (revenue generation started on 08/07/07, the quarter covered all of July, August and September).
So, long story short.... There was a full quarter of expenses and only a half quarter of revenue to offset those expenses.
Hopefully sheds a little light on the loss.
To expand a little on the quarter that you are concerned about, I believe that VA only derived revenues for approximately 1/2 of it (revenue generation started on 08/07/07, the quarter covered all of July, August and September).
So, long story short.... There was a full quarter of expenses and only a half quarter of revenue to offset those expenses.
Hopefully sheds a little light on the loss.
09-18-2008, 07:21 AM
#10
Line Holder
Joined APC: Mar 2007
Posts: 41
Originally Posted by iahflyr
Yeah, because the last report was so shockingly good.
I have been around this industry a long time. I have seen many airlines start up, make or loose money, and either succeed or go down the tubes.
In all that time, I have never seen a worse financial statement than VA's first 1.5 month loss of $38 million dollars during a quarter when most major airlines made $250 million or more.
VA is still flying today because Sir Richard and other investors are pumping hundreds of millions of dollars into it. Have they turned a profit yet? Noway!
I have been around this industry a long time. I have seen many airlines start up, make or loose money, and either succeed or go down the tubes.
In all that time, I have never seen a worse financial statement than VA's first 1.5 month loss of $38 million dollars during a quarter when most major airlines made $250 million or more.
VA is still flying today because Sir Richard and other investors are pumping hundreds of millions of dollars into it. Have they turned a profit yet? Noway!
