16 NOVEMBER 2015

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Article from BTNews 16 NOVEMBER 2015

Flybe results and new routes

Now Europe’s largest regional airline, Flybe announced its half year results last Wednesday (11 September).  Group revenue was up 10.3% to £339.6m with profit before tax of £22.9m (H1 2014/15: loss of £3.3m). 

Cash generation improved in H1 with overall net inflow from operating activities of £21.3m (H1 2014/15: £6.5m). 

There was an 11.2% increase in revenue to £330.9m driven by 13.1% increase in seat capacity to 5.9m seats with passenger numbers 10.2% to 4.5m.

Saad Hammad, Chief Executive Officer, said:  "Our turnaround is on course with a very encouraging performance in the first half. We have returned to profit by delivering significant revenue growth through capacity investment and improved commercial execution, while reducing unit cost.  We are also pleased to have resolved all our key legacy issues with the completion of Project Blackbird (The deployment of its surplus Embraer 195s  (See BTN 9 November). The benefits from this will start to come through next financial year."

The airline has also announced its 2016 summer schedule featuring 143 routes, 17 of which are brand new including eight destinations from Doncaster Robin Hood Airport.  In total, passengers have a choice of over 3,000 flights a week.  www.flybe.com

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