Flybe Group Share News (FLYB)

Flybe Group Information

There is currently no data for FLYB

Flybe H1 profit down but revenue and passenger numbers rise

Wed, 09th Nov 2016 09:09

(ShareCast News) - Flybe reported a drop in pre-tax profit in the six months to the end of September amid challenging markets, but revenue and passenger numbers rose.Pre-tax profit declined 15.9% to £7m, taking a hit from the fall in the value of the pound which increased the cost of US dollar loans on aircraft, while adjusted pre-tax profit fell 5.2% to £15.9m.Group revenue rose to £383m from £339.6m in the first half a year ago, driven by higher passenger volumes in Flybe UK, further development of White Label operations and increased revenue in Flybe Aviation Services.In Flybe UK, revenue was up 10.2% to £364.6m, with a 13.5% increase in seat capacity as additional aircraft were deployed.Meanwhile, passenger volumes rose 7.1% to 4.8m, but the load factor - which gauges how full the planes are - fell by 4.3 percentage points to 72%.Executive chairman Simon Laffin said: "We have completed the transformation, which started three years ago. Next year, for the first time since the IPO in 2010, we will have control over our aircraft capacity. We can begin to move from being a supply-driven business to a demand-driven business. This will free us for even greater focus on implementation excellence and refining route profitability."As passenger numbers are still rising across the industry, we see further revenue opportunities. The aviation market is tough at the moment, with excess seat capacity in the European short-haul market coupled with a weaker pound, and both business and consumer uncertainty impacting all airlines."Numis said the results were "encouragingly resilient", with adjusted pre-tax profit ahead of its estimate of £14.5m.At 0930 GMT, the shares were up 2.6% to 35.90p.

More News

30 Jan 2017 07:43

Flybe Q3 'solid', sees slow start to Q4

(ShareCast News) - Flybe said on Monday that it delivered a solid third quarter in tough trading conditions, but the fourth quarter has kicked off slowly due to "uncertain" customer confidence and poor weather. In the third quarter, it saw passenger growth of 13.5% versus 5.7% in the first half, whi

23 Jan 2017 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

20 Dec 2016 08:50

Flybe appoints former CityJet boss as CEO, announces new routes

(ShareCast News) - Budget airline Flybe has appointed former CityJet boss Christine Ourmieres-Widener as its chief executive officer with effect from 16 January. Ourmieres-Widener started her career in the maintenance department of Air France and between 2010 and 2015 she was the CEO of CityJet. Sin

18 Nov 2016 13:27

Broker tips: Premier Oil, Flybe, St James's Place

(ShareCast News) - Jefferies upgraded Premier Oil to 'buy' from 'hold', keeping the price target at 88p, as it reckons the company's full debt refinancing will go through. Premier said on Thursday that was in the final stages of negotiations with its banks and private bondholders on its refinancing.

18 Nov 2016 09:16

Flybe flies higher on HSBC upgrade to 'buy'

(ShareCast News) - HSBC upgraded Flybe to 'buy' from 'reduce' and lifted the price target to 55p from 20p, saying the company is in a substantially better place that it previously thought. The bank said the group's first-half, reported earlier this month, was much better than it expected with operat

10 Nov 2016 17:13

DIRECTOR DEALINGS SUMMARY: Flybe Chairman Ups Stake By 66%

9 Nov 2016 07:57

Britain's Flybe cautions Brexit vote could hurt aviation industry

Nov 9 (Reuters) - British regional airline Flybe Group Plc cautioned that the country's vote to leave the European Union could affect the aviation industry "operationally and commercially" and posed short-term challenges because of the pound's sharp slide. Flybe, which connects British reg

26 Oct 2016 11:02

Flybe chief executive Hammad fires ejector seat

(ShareCast News) - Flybe chief executive Saad Hammad has parted company from the beleaguered regional airline with its shares trading not far from all-time lows. Chairman Simon Laffin has stepped in to an executive role as the ejector seat has been pressed for Hammed, who started at the company in A

27 Jul 2016 15:38

Flybe reports sustained growth despite tough conditions

(ShareCast News) - Flybe, the largest regional airline in Europe, announced on Wednesday a good start to the year despite challenging conditions for the industry. Chief executive Saad Hammad said: "Flybe continues to make progress despite significant external challenges. We delivered a solid quarte

20 Jul 2016 15:07

UK Shareholder Meetings Calendar - Next 7 Days

20 Jul 2016 15:06

UK Earnings, Trading Statements Calendar - Next 7 Days

14 Jul 2016 07:59

Flybe Fulfils Contract Conditions With Nordic Aviation Capital

7 Jul 2016 08:36

BROKER RATINGS SUMMARY: Buy Wetherspoons, Sell Marston's - Citigroup

27 Jun 2016 08:50

BUZZ-European travel stocks stumble post-Brexit

** Shares in European travel stocks fall after several warn that Britain's vote to leave EU will hit profits ** Stoxx 600 Travel and Leisure Index among worst performing in Europe, down 4 pct, and only 2 points shy of hitting its lowest since Dec. 2014 ** EasyJet worst performer by fa

Latest Share Chat

Flybe Group Share News (FLYB)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Flybe H1 profit down but revenue and passenger numbers rise

Login to your account

Quickpicks are a member only feature

Login to your account