Flybe Pre-Tax Profit Rises 14per Cent to GBP12.2m

By DOUGLAS HAMILTON

FLYBE, the discount airline that has a franchise deal with Scotland’s Loganair, yesterday shrugged off the soaring cost of aviation fuel and posted pre-tax earnings of GBP12.2m for the first quarter of the financial year, an increase of 14per cent on the same period in 2007.

The regional carrier, which flew seven million passengers last year, said that its investment in new fuel-efficient aircraft had paid off, resulting in a reduction in operating costs. It also relied less on the leisure market and more on business travel.

Mike Rutter, the group’s chief commercial officer, told The Herald: “We are not trying to be a mini BA (British Airways) or Ryanair. We are concentrating on specific sections of the market and are we are not trying to do everything.”

The airline, which operates out of Aberdeen, Glasgow and Edinburgh airports in Scotland, also released annual results for the year to the end of March.

For the full year, Flybe reported a GBP35.4m pre-tax profit, after successfully integrating BA Connect, the loss-making regional arm of British Airways bought by the company in March last year.

Originally published by Newsquest Media Group.

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