Flybe posts improved H1 2013/14 results

Flybe has reported £13.8m of first half pre-tax profits compare with a £1.6m loss last year. Revenue under Flybe management has risen 20.4% during the period to £477.3m, with group revenue up at £351.1m. UK Airline passenger revenue per seat improved to £50.35, cost per seat exc fuel was down 3.9% to £39.98. Flybe Finland moved to profitability, while the company succeeded in cutting MRO costs by 9.6% and significantly reducing its net debt. However, the airline has also warned of 500 job losses, despite returning to profit, as part of further cost savings. The next phase of Flybe’s restructuring