** Budget airline Flybe up 7.4 pct making it thetop LSE gainer, after co reports a strong Q1 with sustainedpassenger and revenue growth
** Co reports 9.8 pct rise in Q1 passenger numbers and 11.6pct jump in passenger revenue
** Strong Q2 outlook with 16 pct rise in seat capacity and11 pct rise in passenger revenue as at July 17
** Stock top performer on the FTSE All Share Travel &Leisure Index and second largest gainer on the FTSEAll Share Index
** Numis Securities initiates coverage with a TP of 132 p,adding that co is now ready for profitable growth and strongfree cash flow generation
** "We project c.£89m of free cash flow over the next threeyears, almost 60% of the market cap." Numis Securities analystssaid (Reuters Messaging:noor.hussain.thomsonreuters.com@reuters.net)