Virgin America, launched in August 2007, in the black for first time

Virgin America achieved profitability for the first time in the third quarter, posting net income of $7.5 million, reversed from a $5.9 million net loss in the year-ago period.

Quarterly revenue soared 28% to $202.1 million, outpacing an 18.5% increase in expenses to $181.1 million, producing operating income of $21 million, more than four times greater than a $5.1 million operating profit in the September 2009 quarter. "Our progress toward profitability in just our third year of operations remains impressive, especially given both a global recession and a historic run-up in oil prices since our August 2007 launch," President and CEO David Cush said in a statement.  READ MORE:    ATWOnline