I don't believe that they have scheduled a call yet. Most airlines announce their earnings call about a month and a half out.....I know that's the case with AS
, US and AA
. I went to multiple web-sites looking for this information and Virgin does not have an investor relations link (I am guessing this is due to their financial backing set-up) so there was no info on their web-site. The only information that was available came with this quote from their 1Q report:
"The airline has seen significant year-over-year increases in traffic, bookings and average fares in the second quarter of 2011. The airline will release its second quarter results later this summer. "
Also, as identified in a thread after VX
's 1Q release:
"The airline ended the quarter with $25 million in unrestricted cash and $54 million in total liquidity."
I don't know, this is just not making a whole lot of sense to me. If their second quarter is not profitable, their third quarter likely will not be pretty as fuel has been consistently higher in Q3
than in Q2
. I know airlines brace for the revenue hit that occurs during the fall months after the summer travel season ends and if VX
doesn't have a profitable quarter, 25 million wont cut it as evidenced by a 29 million dollar loss in Q1.
On top of all of this, they launched service to ORD
in this quarter.....we know what AA
did to fares in these markets and with fuel where it has been, the negative pressure on earnings could be nasty.
Their 1Q report occurred on June 10 so we should be seeing something very soon. I cant see how their performance is sustainable but they have proven that they are persistent and I expect that they will fight on until the absolute end. They have tons of new jets coming on line in the next 12 months and that is not cheap....this means hiring, training and the opening of new stations.....all of these have an astronomical cost. My bet is that we will hear of yet another sizable cash infusion in the not too distant future......that is the only way that they will be able to capitalize on the new aircraft coming their way.
American Airlines, US Airways, Alaska Airlines, Northwest Airlines, America West Airlines, USAFR