Connect and get the inside scoop on Airline Companies

Welcome to Airline Pilot Forums - Connect and get the inside scoop on Airline Companies

If this is your first visit, be sure to check out the FAQ. Join our community today and start interacting with existing members. Registration is fast, simple and absolutely free.


User Tag List

Closed
 
Thread Tools Search this Thread
Old 09-06-2008, 06:21 PM   #1  
On Reserve
Thread Starter
 
thumbiman's Avatar
 
Joined APC: Mar 2008
Posts: 16
Default VA's Financials?

When is VA going to post their financials?
thumbiman is offline  
Old 09-06-2008, 06:35 PM   #2  
Banned
 
Joined APC: Sep 2007
Posts: 1,448
Default

They don't. They're privately held and are not required to.
Fishfreighter is offline  
Old 09-09-2008, 04:32 PM   #3  
Gets Weekends Off
 
Green Banana's Avatar
 
Joined APC: Jul 2007
Posts: 159
Default

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
Green Banana is offline  
Old 09-14-2008, 05:11 PM   #4  
AAmerican Way for AA Pay
 
B757200ER's Avatar
 
Joined APC: Oct 2005
Position: B-737 Pilot
Posts: 1,614
Default

Quote:
Originally Posted by Green Banana View Post
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
100% true, GB. They'll have to release it soon.
B757200ER is offline  
Old 09-15-2008, 02:47 AM   #5  
Line Holder
 
A320 Pilot's Avatar
 
Joined APC: Mar 2008
Posts: 60
Default

Quote:
Originally Posted by B757200ER View Post
100% true, GB. They'll have to release it soon.
I guess once you and Capt.GB see the financial report of Virgin America,you will be getting in line to come on board.
A320 Pilot is offline  
Old 09-15-2008, 04:24 AM   #6  
Gets Weekends Off
 
Fred Flintstone's Avatar
 
Joined APC: Jan 2007
Posts: 399
Default

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.
Fred Flintstone is offline  
Old 09-17-2008, 01:53 PM   #7  
Gets Weekends Off
 
Green Banana's Avatar
 
Joined APC: Jul 2007
Posts: 159
Wink

Quote:
Originally Posted by A320 Pilot View Post
I guess once you and Capt.GB see the financial report of Virgin America,you will be getting in line to come on board.
Allready got hired. Passed it up. Looking at a furlough now. Time will tell
Green Banana is offline  
Old 09-17-2008, 07:09 PM   #8  
Gets Weekends Off
 
iahflyr's Avatar
 
Joined APC: Jan 2006
Posts: 1,194
Default

Quote:
Originally Posted by A320 Pilot View Post
I guess once you and Capt.GB see the financial report of Virgin America,you will be getting in line to come on board.
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!
iahflyr is offline  
Old 09-17-2008, 08:35 PM   #9  
Line Holder
 
tzskipper's Avatar
 
Joined APC: Apr 2008
Posts: 93
Default

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.
tzskipper is offline  
Old 09-18-2008, 07:21 AM   #10  
Line Holder
 
Saabstory's Avatar
 
Joined APC: Mar 2007
Posts: 41
Default

Quote:
Originally Posted by iahflyr View Post
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!
Loose money?.....where....WHERE???? Gotta get some!
Saabstory is offline  
 
 
 

 
Closed
 



Thread Tools Search this Thread
Search this Thread:

Advanced Search



All times are GMT -8. The time now is 03:13 PM.