KANSAS CITY, Feb 20, 2011 /AP/ — MetroAir Virtual Airlines and parent company Stratosphere Group, Inc. today reported its results for 2010:
On the eve of our 5th anniversary, 2010 proved to be another successful year at MetroAir. We generated net income of $165.6 million and an operating margin of 6.7% â€“ an improvement of more than $50 million compared to 2009. We ended the year with nearly $900 million in cash and short term investments â€“ one of the strongest liquidity positions in the U.S. airline industry. These results demonstrate the benefits of our disciplined growth strategy, driving our highest net income in company history. We remain committed to achieving long term success and profitability through sustainable growth and positive free cash flow. This commitment drives our focus on managing capital expenditures, rationalizing capacity, maximizing revenue and controlling costs while preserving and expanding our brand to all corners of the globe.
The full report is available here.