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 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.”