Exhibit 99.1

VIRGIN AMERICA REPORTS FIRST QUARTER 2016 EARNINGS
Company Reports Record First Quarter Pre-Tax Income, with a 171 Percent Increase Year over Year
San Francisco - April 28, 2016 - Virgin America (NASDAQ: VA) today reports its financial results for the first quarter 2016. Key highlights include:
First quarter 2016 net income excluding special items1 was $18.4 million, an increase of 74.5 percent from the first quarter of 2015. Operating income and operating margin excluding special items were $33.2 million and 9.1 percent, improving 152.8 percent and 5.1 points, respectively.
On a GAAP basis, net income was $17.5 million. Operating income and operating margin on a GAAP basis were $31.9 million and 8.8 percent, respectively.
Fully diluted earnings per share excluding special items was $0.41. On a GAAP basis, fully diluted earnings per share was $0.39.
On April 1, 2016, subsequent to quarter end, Virgin America entered into a merger agreement with Alaska Air Group, Inc.
"Virgin America performed exceptionally well as we entered 2016," said David Cush, Virgin America's President and Chief Executive Officer. "We reported record first quarter net income driven by continued unit revenue outperformance as compared with the domestic industry and the benefit of lower fuel costs. Importantly, we achieved these results with capacity growth of nearly 16 percent in the first quarter while also maintaining our focus on non-fuel unit costs. The proposed merger with Alaska Air Group recognizes the successful business model we have built at Virgin America in just nine short years."
First Quarter 2016 Financial Highlights
Capacity: Available seat miles (ASMs) for the first quarter of 2016 increased 15.8 percent year-over-year compared with the first quarter of 2015. Virgin America took delivery of two new Airbus A320 aircraft in the first quarter of 2016, ending the quarter with 60 total Airbus A320-family aircraft of which 58 were in service, compared to 53 aircraft in service at the end of the first quarter of 2015.
Operating Revenue: Total operating revenue was $364.0 million, an increase of 11.5 percent over the first quarter of 2015.
Revenue per Available Seat Mile (RASM): Passenger revenue per available seat mile (PRASM) decreased 3.8 percent compared to the first quarter of 2015, to 9.88 cents, driven by a 3.7 percent decrease in yield. Total RASM decreased 3.7 percent year-over-year.
Cost per Available Seat Mile (CASM): Total CASM excluding special items decreased 8.8 percent compared to the first quarter of 2015, to 10.13 cents. A decrease in fuel costs was the primary factor in the decline in CASM. Salaries, wages and benefits costs included a $3.4 million accrual for teammate profit sharing and related payroll taxes. CASM excluding special items, fuel costs and profit sharing for the quarter increased 1.8 percent year-over-year, to 7.96 cents. Total CASM on a GAAP basis decreased 7.8 percent compared to the first quarter of 2015, to 10.17 cents.
Fuel Expense: Virgin America realized an average economic fuel cost per gallon including taxes and the impact of hedges of $1.57, which was 35.9 percent lower year-over-year.
Special Items: Special items in the first quarter of 2016 consist of $1.6 million of costs related to the merger agreement with Alaska Air Group, Inc., signed on April 1, 2016 and an aggregate of $0.4 million of out-of-period fuel related adjustments.
Operating Income: First quarter 2016 operating income excluding special items was $33.2 million, an increase of 152.8% compared to the first quarter of 2015. The Company’s operating margin excluding special items of 9.1 percent improved by 5.1 points year-over-year.
Income before Taxes: Pre-tax income excluding special items was $29.4 million during the first quarter of 2016, an increase of 170.8% versus the first quarter of 2015.
Net Income: Net income excluding special items for the first quarter increased by 74.5 percent year-over-year to $18.4 million. The Company recorded a provision for income taxes excluding special items of $10.3 million in the first quarter of

1 Please see "GAAP to Non-GAAP Reconciliations" for reconciliations of non-GAAP financial measures used in this release and the reasons management uses these measures.

The following information was filed by Virgin America Inc. (VA) on Thursday, April 28, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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