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Article: United States: Virgin America has lost $270M.
- Article from:
- TendersInfo
- Article date:
- February 3, 2009
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Byline: kusumv03
In its first earnings report in more than a year, Virgin America Inc. said it lost $175.4 million over the first three quarters of 2008. The Burlingame-based airline booked $259.6 million in revenue during the same period. When added to figures from 2007, Virgin America has lost $270.2 million on sales of $311.7 million since it began service in August 2007.
Virgin America officials said the figures were in line with expectations for the startup company, which employs about 1,200 people at San Francisco International Airport and elsewhere around the country.
This is an industry with very high start-up costs and where large ...