Flybe revenues buoyed by more passengers, ticket sales
Flybe saw increase passenger numbers and burgeoning ticket receipts driving heady revenues.
Airport news for Flights,Edinburgh on 18/08/2011.
Flybe enjoyed healthy revenues in the last quarter, despite the twin challenge of a sagging economy and skyrocketing prices for fuel. In the three months ending June, the carrier managed to boost both passenger numbers and revenues from ticket sales, helping to offset the drag of a challenging aviation industry and worldwide recession.
The regional airline, which is based in Exeter, carried some two million passengers in the most recent quarter, an increase of 7.7 per cent over the same period in 2010, excluding the disruption caused by the volcanic ash cloud. The airline currently offers flights through a number of airports, including Bristol, Birmingham, Doncaster, Exeter, Cardiff, the East Midlands and Edinburgh.
The carrier reported a 3.4-per-cent increase in average ticket income, to £62.27, over the quarter. Total revenues for the period hit £160.4 million, up 8.3 per cent from the same period a year ago.
Jim French, CEO at Flybe, said trading conditions at the moment look 'encouraging'. Forward ticket sales covering the three-month period to 6 October are up by an impressive 6 per cent.
It was only a few months ago, in May, that the airline issued a profit warning. The carrier said then that it was struggling with high oil prices, heavy weather conditions and the sluggish economy.
Now however, Mr French says the group would maintain its forecast for the year, even with the continued concerns about the economy. Ahead of this latest update, brokers had been expecting Flybe's full-year profits to be somewhere between 23 million
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