Uh oh!! Virgin America
#11
Gets Weekends Off
Joined APC: Mar 2011
Posts: 244
THey did not make money, they lost 12 million, 3 times last years loss. They achieved an operating profit, but not a profit.
#12
Gets Weekends Off
Joined APC: Aug 2007
Position: Skeptical
Posts: 378
Virgin America Cuts Airbus Order, Delays 30 Jets - Bloomberg
Wider Loss
Virgin America also reported that its third-quarter net loss widened to $12.6 million from $3.3 million a year earlier. Revenue jumped 27 percent to $368 million. The closely held company ended the period with $75 million in unrestricted cash.
Virgin America also reported that its third-quarter net loss widened to $12.6 million from $3.3 million a year earlier. Revenue jumped 27 percent to $368 million. The closely held company ended the period with $75 million in unrestricted cash.
#13
On Reserve
Joined APC: Nov 2012
Posts: 16
It's too bad...They are a great airline and a pleasure to fly. I remember 2 years ago I wanted to get in very badly just to be apart of something new and stay with them forever. Needless to say I have changed my mind. There is no way I would relocate for them for fear of my losing my job. I personally am worried for them.
#14
#15
Gets Weekends Off
Joined APC: Jul 2010
Position: window seat
Posts: 12,522
Wild crazy rumor alert!!!! XXX Airline buys (or "partners with" to keep it legal) Virgin Atlantic to get coveted Heathrow slots; has to take Virgin America as part of the deal to give Branson et. al. a face saving exit...and operates them separtely until phase out so as to avoid even the slimmest chance of a relative SLI.
#16
Banned
Joined APC: Oct 2012
Position: 36N15
Posts: 323
What do they have? $82M unrestricted cash on hand? Looks like Virgin will need ANOTHER large cash infusion to make it through the winter. But, I guess if you're Richard Branson, $1B here and there is chicken feed.
Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
#17
Banned
Joined APC: Oct 2008
Posts: 1,857
What do they have? $82M unrestricted cash on hand? Looks like Virgin will need ANOTHER large cash infusion to make it through the winter. But, I guess if you're Richard Branson, $1B here and there is chicken feed.
Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
#18
Gets Weekends Off
Joined APC: Jul 2008
Posts: 4,911
What do they have? $82M unrestricted cash on hand? Looks like Virgin will need ANOTHER large cash infusion to make it through the winter. But, I guess if you're Richard Branson, $1B here and there is chicken feed.
Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
#20
Banned
Joined APC: Oct 2010
Posts: 1,222
I remember a few years ago, a Netjets pilot told me that Warren Buffett doesn't mind operating Netjets at a loss since it's a tax write-off. That couldn't be more further from the truth. In the end, Netjets laid off a third of their force. Virgin Atlantic will not be around long term losing money.
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