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Flybe full year results

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Shaping a sustainable future
Flybe, Europe’s largest regional airline, has released its financial results for the year ended 31st March 2017.
The airline has reported the following financial results:
Passenger numbers increased by 7.6% to 8.8m
13.4% increase in group revenue to £707.4m (£623.8m in 2015/16)
Stable passenger yield at £70.20
3.0ppts lower load factor to 69.6%, reflecting the 12.3% increase in capacity
£6.7m adjusted loss before tax
Operationally, during the year Flybe:
Was again named by OAG as the best UK airline for punctuality (on time performance) and placed sixth worldwide
Launched a new franchise partnership and joint venture with Eastern Airways and a new franchise agreement with Blue Islands in the Channel Islands
Launched new routes from Scotland to London Heathrow
Signed new codeshares with Virgin Atlantic, Air Berlin, Air India and Singapore Airlines
Flybe is well placed as it enters 2017/18 as it will be in control of its capacity going forward.
Flybe reached its peak fleet size of 85 in May 2017. Reduction in the fleet size will start by returning six end-of-lease Q400s in 2017/18. This will enable Flybe to become a more customer centric business and for the first time concentrate the business on profitable routes
Flybe has a clear business plan, which will form the foundation of a longer term plan to become the best regional airline in Europe.
Implementing a clear strategy is about returning to the core of what really works for the airline. We will make Flybe a sustainable business that operates the best routes and at the best times to suit the needs of our customers. We will stay true to our mission to connect people and businesses with safe, reliable and affordable travel.

Flybe CEO, Christine Ourmieres-Widener said: “I am truly passionate about the airline industry and I see tremendous opportunities for Flybe to connect and engage with communities and to establish a reputation for excellence in serving our customers. We will be successful in delivering by continually focusing on our costs, increasing our knowledge about who our customers are and what makes them tick, achieving industry-leading operational excellence and implementing a great digital platform. Flybe has a great future, both as Europe’s largest regional airline and as the reference for people working in the airline industry.”

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