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Flybe reports sharp rise in 1HFY2012 profits

10-Nov-2011 1:55 PM

Flybe revenue up 6% – financial highlights for six months ended 30-Sep-2011:

  • Revenue: GBP341.6 million, +6.4% year-on-year;
    • Revenue under management: GBP350.2 million, +9.1%;
    • Ancillary: GBP58.4 million, +11.7%;
  • Operating costs: GBP324.9 million, +4.9%;
    • Fuel: GBP55.9 million, +9.6%;
    • Others: GBP224.8 million, +4.9%;
  • Operating profit: GBP16.2 million, +43.4%;
  • Profit after tax: GBP14.6 million, +105.6%;
  • Passenger numbers: 4.2 million, +5.0%;
  • Load factor: 65.6%, +1.6 ppt;
  • Passenger yield: GBP76.06, +3.3%;
  • Passenger revenue per seat: GBP49.88, +5.8%;
  • Cost per seat*: GBP50.76, +0.6%;
  • Total assets: GBP398 million, -3.9% when compared to period ended 31-Mar-2011;
  • Cash and restricted cash: GBP88 million, -17.0% when compared to period ended 31-Mar-2011;
  • Debt: GBP67 million, -20.2% when compared to period ended 31-Mar-2011;
  • Other liabilities: GBP218 million, -1.8% when compared to period ended 31-Mar-2011. [more – original PR]

*At constant currency

Flybe: "In Flybe UK, trading conditions remain challenging, as expected. Forward ticket sales revenue for winter 2011/12 is currently down 1% year-on-year, while our capacity management programme means seats flown will be down by 6% against the previous year. We will continue to monitor closely trends and review our flying programme to ensure that capacity remains optimally matched to demand. Across the Flybe Group including Flybe Finland, however, we are expecting an increase in scheduled seat capacity managed by Flybe in winter 2011/12 of 7% year-on-year, with a similar increase in passengers,” Jim French, chairman and CEO. Source: Flybe, 09-Nov-2011.