Virgin America in profit for the first time
For the first time since its 2007 launch, Virgin America has reported its first ever full-year profit.
The California based airline said net income was $10.1 million, reversing losses of $145.4 million in 2012.
It carried 6.3 million passengers in 2013, up slightly from 6.2 million in 2012 while average fares rose 4.3% to $204.
Revenue per available seat mile increased by 8% over the year
After years of breakneck expansion, 2013 was a year of consolidation, focusing on existing routes and improving cost efficiencies.
The bottom line was also helped with fuel costs down by 5% and it also restructured debt, lowering interest rate payments.
CEO David Cush called 2013 "a year of tremendous progress" and recently said the company may be ready for a public listing later this year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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