Virgin America Posts Yearly Loss; Eyes Possible IPO

Discount airliner Virgin America said it’s close to turning around its financial losses and could be ready for an initial public offering as early as next year. Although a privately held company, Virgin America is announcing these financial results in advance of the DOT quarterly reports. The airline reported its first-ever fourth quarter operating profit in the quarter ending in December 2012, with a 4.4 point improvement in operating margin over the fourth quarter of 2011. In addition, Virgin America improved financial results in the first quarter of 2013, significantly narrowing its operating loss from the same period the year prior….