Virgin America Net Profit Jumps On Higher U.S. Travel, Lower Costs
Virgin America Inc (VA.O), a low-cost airline partly owned by Richard Branson, reported a 76 percent jump in quarterly profit, helped by higher U.S. travel and lower fuel costs.
The company’s net income rose to $65 million in the second quarter ended June 30, from $37 million a year earlier.
However, earnings per share fell to $1.47 from $11.92 due to a higher number of shares outstanding in the latest quarter.
Total operating revenue rose 0.5 percent to $400.9 million.