With revenue and passenger traffic up, Flybe sets sights on European expansion

Flybe, Europe's largest regional airline, announced that it recorded strong gains in revenue and passenger numbers in its fiscal first quarter (Apr-2011 to Jun-2011) and expects to post an annual profit compared to last year's loss. The regional LCC also stated it has made "excellent" progress on its strategic growth plans, with the acquisition of Finncomm Airlines in the quarter. But investors are not fully comfortable with the carrier's plans, selling the stock down since its listing at the end of last year.