Flybe back in the black

Dino D'Amore
By Dino D'Amore June 10, 2016 19:30

Flybe back in the black

Flybe has posted its first profit in six years, which is the first time since it floated on the London stock exchange in 2010. Passenger revenues were up by 8.2% in the year to April, and pre-tax profits were £2.7 million compared with a £35.6 million loss the year before. Chief executive of Flybe, Saad Hammad, who was brought in from easyJet to turn around Flybe’s fortunes almost three years ago, said the airline  was “now a much more resilient business and well-positioned for profitable growth”. Going forward Flybe would do very well indeed to remain in the black given that routes in and out of France account for 12% of its total capacity. Also easyjet and Ryanair’s recent price cuts may yet affect Flybe on a number of international routes.

Dino D'Amore
By Dino D'Amore June 10, 2016 19:30