12 AUGUST 2013
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
+44 (0)20 8952 8383
© 2020 Business Travel News Ltd.
Exeter-based Flybe, which claims to be Europe’s largest regional airline, has announced its Interim Management Statement for the period to 7 August 2013, incorporating its performance in the first quarter ended 30 June 2013. As reported in BTN 5 August Saab Hammed joined as Chief Executive on 1 August, with effectively a free hand to revive the fortunes of the loss making carrier. These are the old management's last results.
The airline says that trading was in line with expectations with revenue under management up 18.5% to £229m due to increased contract flying activity in Flybe Finland, Flybe’s joint venture with Finnair. Group revenue increased by 0.7% to £164.2m
Flybe’s share of the UK regional market (excluding London) was encouraging coming in at 55% versus 51.2%.
“Following on the management changes (see Paul Simmons to join Flybe in this issue) and current with the cost reduction programme, the new leadership team has commenced a full review of the group’s operations and will report in due course on the future strategic development and direction of the business”, the statement concluded. www.flybe.com
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
No one has commented yet, why don't you start the ball rolling?