Flybe forecasts break-even before tax for FY2015

Flybe stated (26-Jan-2015) it now expects to achieve a break-even at pre-tax profit level for FY2015. Flybe said: "We will continue to fine-tune our new routes and compete aggressively for customers. Our lower cost base provides a firm foundation for our future development. We expect to achieve around break-even at pre-tax profit level for the Full Year to March 2015, before the costs of the E195s and any impact of USD loan revaluation, but after the already announced write down of Finland JV of £9.9m and EU261 flight delay provision of £6m. The Group is well positioned for the future with a strong balance sheet and an improving core UK business." Flybe expects capacity to increase 14% year-on-year in 4QFY2015, with passenger revenue per seat to decline 3%. [more - original PR]