Flybe Q3 revenue declines nearly 4%

Flybe has announced a 3.8% decline in third quarter revenue to £126.8million with future passenger sales per seat down 3%. Shares in Flybe lost a quarter of their stock market value yesterday after the decline was announced, falling to as low as 70.5p at one point over  concerns about the future sales at the airline. Despite its cost-cutting plan – which included re-organising its route network – Flybe veered back to a loss after incurring extra costs and a charge for exiting its Finland joint venture, as well as increased competition at London City airport. Flybe said it expects to