Flybe completes three year transformation programme

Flybe executive chairman Simon Laffin confirmed (09-Nov-2016) Flybe completed its three year transformation programme. Mr Laffin also stated: "Next year, for the first time since the IPO in 2010, we will have control over our aircraft capacity." He commented the aviation market is "tough at the moment", due to excess seat capacity in the European short-haul market and the weaker pound, coupled with business and consumer uncertainty affecting all airlines. However, Mr Laffin said Flybe possesses a robust balance sheet and cash position, and will continue to "cautiously test routes" to maximise returns from existing capacity. [more - original PR]