5 NOVEMBER 2018

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Article from BTNews 5 NOVEMBER 2018

Flybe share crash

On a day when her airline's share price was at an all-time low of just 11p (it closed at 10.5p on Friday, 2 November), Flybe CEO Christine Ourmières-Widener was brave in addressing the AOA conference saying she could not answer financial questions due to London Stock Exchange rules. “As a listed company I have to abide by the LSE guidelines," she said. "Flybe will announce its interim results on 14 November.” 

The AOA conference traditionally winds up with an address by a British airline CEO.

Flybe issued a profit warning on 22 October

To put things into perspective, Flybe in 2017 carried 8.8m passengers at a load factor of 69.6%, down from 72.6% in 2016, and made a £48.5m loss. It plans to reduce its current fleet from 85 to 70 aircraft by 2020.

Ourmières-Widener was able to discuss the airline’s piloting situation, which she described as “difficult”, noting Flybe was the only British airline to train its pilots in-house. “Fortunately, with our route structure, we can offer an appointment that brings staff home every night. It is one of our strengths”.

As a one-time Air France engineer, she said she was hopeful for the Flybe “Flyshe” campaign. “Every day, we champion women in all areas of our business.”

See also COMMENT: Is Northolt the saviour for Flybe? in this issue.

www.flybe.com

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