Flybe Group reports 'solid' start to FY2017

Flybe Group reported (27-Jul-2016) the following trading update for three months ended 30-Jun-2016:

• Flybe UK revenue: GBP166.5 million, +8.8% year-on-year;
• • Passenger revenue: GBP155.8 million, +5.0%;
  • Contract flying: GBP7.8 million, +226%;
• Passenger numbers: 2.3 million, +9.2%;
• Seat capacity: 3.2 million, +15.5%;
• Load factor: 70.0%, -4.1 ppts;
• Passenger yield: GBP68.39, -3.9%;
• Revenue per seat: GBP47.95, -9.1%;
• UK cost per seat: GBP51.52, -3.2%;
• UK cost per eat excl fuel: -0.3%. [more - original PR]

Flybe: "Flybe continues to make progress despite significant external challenges. We delivered a solid quarter through vigorous commercial execution and enhanced operational delivery. The current outlook is very uncertain and we have limited forward visibility due to our late booking profile. We are yet to see the full impact on demand of the devaluation of sterling and the heightened consumer uncertainty after the Brexit vote. It is also too early to assess the potential demand impact of recent terrorist attacks," Saad Hammad, CEO. Source: Company statement, 27-Jul-2016.