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flybe pax down 1% due to weather in Dec-2010 quarter

14-Feb-2011 12:16 PM

flybe revenue up 1.5% - financial highlights for the three months ended 31-Dec-2010 (The Herald/UK Airport News/The Press and Journal, 12-Feb-2011):

  • Revenue: GBP139.5 million, +1.5% year-on-year;
    • Extra charges: GBP22.8 million, +11.2%;
  • Passenger revenue per seat: +4.1%;
  • Underlying performance: “Positive”;
  • Passenger numbers: 1.7 million, -1.2% against a forecast 4.8% increase prior to snow-related disruptions;
  • Market share*: 27%, +2 ppts.

* For year to Dec-2010

flybe stated it incurred GBP6 million in losses due to snow-related airport closures and schedule disruptions which led to the cancellation of 1980 flights during the period. The carrier also stated its Jan-2011 results are off to a good start with a 9% increase in seat capacity.

flybe said ancillary revenues were the primary driver of revenue growth in the Dec-2010 quarter, offsetting the weather-induced fall in passenger numbers (Financial Times, 12-Feb-2010). Passenger numbers in the quarter fell 1.2% to 1.7 million but revenues increased as spend per passenger grew.

flybe: "The group's plans for expansion into continental Europe are progressing well, including our discussions with other European carriers,” Jim French, Chairman and CEO. Source: The Herald, 12-Feb-2011.