California-based low-cost carrier Virgin America said it posted its first-ever Q4 operating profit in the quarter ending in December 2012 with a 4.4 point improvement in operating margin over the fourth quarter of 2011.
The carrier this week reported its financial results for the fourth quarter of 2012, full-year 2012, and the first quarter of 2013.
In addition, Virgin America improved financial results in Q1 ´13, narrowing its operating loss from the same period the year prior.
For Q1 ´13, Virgin America reported a 69% year-over-year improvement in operating results compared with the first quarter of 2012, driven by an 18% growth in RASM.
Virgin America achieved its first-ever Q4 operating profit with USD 5.1m of operating income, an improvement of USD 13.2m, compared with the fourth quarter of 2011.
Q4 ´12 revenue per available seat mile increased by 9 %, the highest in the domestic industry. Available seat miles increased by 16%, primarily the result of increases to the fleet size early in 2012.
The airline recorded operating revenues of USD 350.4m in Q4 ´12, a year-over-year increase of 27%.