The biggest news surrounding Virgin America this weekend was the roll out of in-flight WiFi with a special beta flight on Saturday. (Why yes, we were in attendance.) But more news happened to shake out Saturday that sheds light on the still-young carrier's future.
CEO David Cush told Reuters that with prices at roughly a third of the highs hit this summer, now might be the time to secure some good deals on fuel:
We see a pretty unique opportunity with what's going on in the fuel markets right now to go in and lock in some long positions. I would imagine over the course of the next several weeks that we will be going out two and three, and perhaps even four, years into the fuel market and locking in some of the prices that are there today.
Cush also revealed that Virgin America probably won't turn a profit until 2011; previously VA was aiming to make money by 2010. There might not be a chance to revise that date again: After asking investors for another infusion of capital in October, there's currently enough cash in the bank to last another three years.
Related Stories:
· Virgin America Sees Fuel Hedge Opportunity [Jaunted]
· Virgin America Could Scrap Chicago Plans [Jaunted]
[Photo: Virgin America]]]>