10 Apr 2012 07:00
Flybe Group plc
("Flybe" or "the Group")
Pre-close trading update
Ahead of the announcement of results for the year ended 31 March 2012 on Monday 11 June 2012, Flybe, Europe's largest regional airline, is pleased to issue the following trading update.
The Group performed in line with management expectations through the final quarter of the year ended 31 March 2012.
Flybe UK continues to focus on a number of initiatives to increase revenue per seat, further reduce costs and ensure capacity is optimally matched to demand. To that end, we announced a contract flying agreement with Brussels Airlines on 8 March 2012 to provide two Bombardier Q400 aircraft. More details on revenue and cost initiatives will be provided with the full year results in June 2012. Flybe UK has maintained its leadership position in the UK regional and domestic markets.
Flybe Finland, our joint venture with Finnair, continues the expansion of its scheduled services, including routes into Sweden and Denmark, as part of our plan to develop the business into the leading Regional carrier in Northern Europe.
In our Aviation Support division, the MRO business has seen increased demand for third party aircraft maintenance from European regional airlines and the Training Academy will benefit from the recently commissioned second flight simulator.
Although market conditions remain challenging, we have a robust and flexible business model combined with clear and achievable growth plans. We remain confident about Flybe's long term future.
10 April 2012
Enquiries:
Flybe | Tel: +44 20 7457 2020 |
Jim French, Chairman & Chief Executive Officer | |
Andrew Knuckey, Chief Financial Officer | |
College Hill | Tel: +44 20 7457 2020 |
Mark Garraway | |
Helen Tarbet |