24-Jun-2013 2:09 PM

Flybe falls deeper into the red in FY2013

Flybe revenue stable – financial highlights for 12 months ended 31-Mar-2013:

  • Revenue: GBP614.3 million, -0.2% year-on-year;
    • Flybe UK: GBP575.2 million, -2.2%;
    • Flybe Finland: GBP167.2 million, +163%;
  • Operating costs:
    • Flybe UK: GBP594.1 million, +0.9%;
    • Net airport costs, en route charges ad ground operations: GBP200.1 million, -2.3%;
    • Aircraft ownership and maintenance: GBP134.2 million, -7.9%;
    • Fuel: GBP22.6 million, +15.2%;
    • Labour: GBP85.9 million, +0.6%;
  • Operating profit (loss): (GBP34.3 million), compared to a loss of GBP4.9 million in p-c-p;
  • Profit (loss) before tax: (GBP40.7 million), compared to a loss of GBP6.2 million in p-c-p;
    • Flybe UK: (GBP28.9 million), compared to a profit of GBP1.1 million in p-c-p;
  • Net profit (loss): (GBP41.8 million), compared to a loss of GBP6.4 million in p-c-p;
  • Total assets: GBP405.8 million, -2.3%;
  • Cash and cash equivalents: GBP23.3 million, -45.7%;
  • Total liabilities: GBP357.7 million, +9.8%. [more - original PR]

Flybe: “Our results for 2012/13, while expected, are nonetheless disappointing. During the year, we have taken difficult decisions as part of our turnaround plan, which have affected all our people. Challenging as they have been, these decisions were critical to ensuring the future success of Flybe,” Jim French, Chairman and CEO. Source: Company statement, 21-Jun-2013.