Flybe's second quarter revenue takes off

(ShareCast News) - Budget airline Flybe said it was continuing its turnaround as it posted double-digit growth in passenger numbers and revenue.In the second quarter of its financial year, the carrier posted a 10.7% year-on-year increase in passenger numbers to 2.4m, while seat capacity rose 13.8% to 3m seats.Passenger revenue rose 13% year-on-year, although load factor, a gauge measuring the number of seats filled on aircraft, declined from 80.5% to 78.3%."Flybe's turnaround continues, with our third successive quarter of revenue, capacity and passenger number growth, against the very competitive market provided by other airlines and road, rail and ferry services," said group chief executive Saad Hammad."In our second year of transformation, Flybe's performance in its core business is on track."Flybe shares were up 6.15% to 82.00p at 0850 BST on Tuesday.