UK passenger revenues at Flybe under a cloud - Business News - Business - Evening Standard
       

UK passenger revenues at Flybe under a cloud

More evidence of turbulence in the aviation sector emerged today as Flybe's UK passenger revenues fell in the four months since October.

Europe's biggest regional airline said UK sales were down 0.3% on a year ago to £133.7 million between the final three months of 2011 and yesterday. Last month, Flybe issued a profits warning - its third in eight months - after a sharp decline in flier numbers on internal UK flights in the weeks leading up to Christmas.

Investec, the airline's house broker, said it expects the airline to post an £8.5 million loss in the year to April. Before Christmas, it had pencilled in a profit of £6.4 million.

Flybe cut capacity by 6% last January, although it airline signed a joint venture with Finnair that helped it move into continental Europe and sent overall revenue under management in the period up by about a fifth to £165.5 million.

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