Flybe trims pre-tax loss as passenger numbers climb
Flybe reported a smaller pre-tax loss in the 12 months to the end of March on higher passenger numbers and increased revenue per seat, but it also restated its loss for the previous year to more than GBP48.5m. Additional maintenance costs, an “onerous” IT contract and weather disruption in the airline’s fourth quarter meant the company reported losses before tax of GBP9.4m for the latest financial year to March. It restates the previous year’s loss from GBP19.9m due to a lease and impairments. The “Beast from the East” UK cold snap forced the airline to to cancel 994 flights in the quarter. Despite the cold snap, passenger revenue per seat rose 10.1% to GBP53.79 and passenger volumes were up 7.7% to 9.5m. Group revenue rose 6.4% year on year to GBP752.6m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-06-20/unaligned/flybe-trims-pre-tax-loss-as-passenger-numbers-climb
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Flybe trims pre-tax loss as passenger numbers climb
Flybe reported a smaller pre-tax loss in the 12 months to the end of March on higher passenger numbers and increased revenue per seat, but it also restated its loss for the previous year to more than GBP48.5m. Additional maintenance costs, an “onerous” IT contract and weather disruption in the airline’s fourth quarter meant the company reported losses before tax of GBP9.4m for the latest financial year to March. It restates the previous year’s loss from GBP19.9m due to a lease and impairments. The “Beast from the East” UK cold snap forced the airline to to cancel 994 flights in the quarter. Despite the cold snap, passenger revenue per seat rose 10.1% to GBP53.79 and passenger volumes were up 7.7% to 9.5m. Group revenue rose 6.4% year on year to GBP752.6m. <br/>
