LOS ANGELES – Despite reporting a net loss of $22.4 million in the first quarter, Virgin America is likely still on track for an initial public offering as soon as later this year. The timing is probably right for a variety of the factors. First, the airline, while not consistently profitable, is improving its financial results. Virgin America narrowed its loss by $24 million compared with 2013, while increasing operating revenue by about 4% to $313.4 million. This marked the sixth ...

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