Virgin America reports loss in 2008 through September

Budget airline Virgin America, launched in 2007, a closely-held carrier partly-owned by British billionaire entrepreneur Richard Branson, has reported a $175.4 million loss for the first nine months of 2008.

In its first financial reporting in more than a year, the carrier also revealed in an e-mailed statement on Monday that it posted operating revenues of $259.9 million for the same period. It added that it filled 81.4 percent of the seats on its flights during the third quarter, and 77.6 percent during the second quarter.

On January 29, Virgin America lost its appeal to U.S. regulators to keep its financial data private. In March, the airline asked that its results not be released until annual revenues exceeded the $1 billion mark, so that rival airlines couldn’t use its results to undermine its growth.

“We’re pleased with our progress to date, especially given fuel price volatility and economic uncertainty in 2008,” said CEO David Cush, in a statement released along with the financial results. He added that the results were “consistent with our expectations.”

Larger competitors, including Delta Air Lines and American Airlines, also posted losses during the same period, blamed largely on record high fuel prices and worsening economic conditions.

Six airlines, including Delta Air Lines and American Airlines, had contacted the U.S. Bureau of Transportation Statistics, saying that Virgin America should be required to disclose financial information, as it is required of others.

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