Article from BTNews 25 JUNE 2018
Flybe fighting back
Results which saw an adjusted loss of £19.2m for the year to 31 March, three times more than in 2016/17, but an improvement in loss before tax to £9.4m and group revenue up 6.4% to £752.6m were reported by Flybe last week.
CEO Christine Ourmières-Widener said the airline had made significant progress during her first full year in office. “With our fleet size under control, we are already delivering improvements to passenger yield, load factors and revenue,” she added.
“Our Sustainable Business Improvement Plan, launched last year, is enhancing the business in a number of key areas including network decision-making, revenue management and commercial performance.”
Profitability, however, had been impacted by higher maintenance costs, IT investment and the poor weather in the final quarter.
Looking ahead, she said: “We now have a new senior management team in place, with greater aviation experience, and we are all focused on delivering the business plan through continued improvements to revenue, a renewed focus on cost reduction and therefore achieving profitability.”
On the growth front, Flybe has launched a direct flight between Doncaster Sheffield Airport and Belfast with a journey time of less than 1hr, offering five flights a week on the route.
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