Flybe making ‘strong progress’ on improvement plan
Flybe is feeling the benefits of a renewed focus on operating costs and fleet trimming. In a 3Q trading update of its 2017-18 financial year, the airline reported a 7.4% rise in revenue, to GBP172.8m, up from GBP160.8m for the year-ago period. Passenger numbers were up 8.1% at 2.3m; combined with a 4.2% drop in capacity at 3m seats, which resulted in a load factor of 75.8%, up from 67.2% a year ago. Passenger yield inched up 0.4% to GBP69.81, while passenger revenue per seat increased 13.3% to GBP52.92. The fleet reduction came with the handing back of four end-of-lease Bombardier Dash 8 Q400s; a further two will leave the fleet before the end of March. “We are making strong progress against our sustainable business improvement plan,” Flybe CEO Christine Ourmieres-Widener said. “During this quarter we continued with our planned fleet and capacity reductions and delivered higher load factors, increased passenger numbers and strong unit revenue performance. We expect this improvement to continue, but at a slightly lower rate in the final quarter of the year,” she said. “As we continue to reduce our fleet size—but face the impact of higher fuel prices and reduced foreign currency exchange hedging gains—we are going to be even more focused on improving our cost base.”<br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2018-02-01/unaligned/flybe-making-2018strong-progress2019-on-improvement-plan
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Flybe making ‘strong progress’ on improvement plan
Flybe is feeling the benefits of a renewed focus on operating costs and fleet trimming. In a 3Q trading update of its 2017-18 financial year, the airline reported a 7.4% rise in revenue, to GBP172.8m, up from GBP160.8m for the year-ago period. Passenger numbers were up 8.1% at 2.3m; combined with a 4.2% drop in capacity at 3m seats, which resulted in a load factor of 75.8%, up from 67.2% a year ago. Passenger yield inched up 0.4% to GBP69.81, while passenger revenue per seat increased 13.3% to GBP52.92. The fleet reduction came with the handing back of four end-of-lease Bombardier Dash 8 Q400s; a further two will leave the fleet before the end of March. “We are making strong progress against our sustainable business improvement plan,” Flybe CEO Christine Ourmieres-Widener said. “During this quarter we continued with our planned fleet and capacity reductions and delivered higher load factors, increased passenger numbers and strong unit revenue performance. We expect this improvement to continue, but at a slightly lower rate in the final quarter of the year,” she said. “As we continue to reduce our fleet size—but face the impact of higher fuel prices and reduced foreign currency exchange hedging gains—we are going to be even more focused on improving our cost base.”<br/>
