Flybe Group in the red in FY2015

Flybe Group revenue down 7% - financial highlights for 12 months ended 31-Mar-2015:

• Revenue: GBP574.1 million, -7.5% year-on-year;
• • Flybe UK: GBP550.7 million, -8.2%;
  • • Passenger: GBP528.6 million, -4.6%;
  • Contract flying: GBP11.6 million, -28.4%;
• Operating costs: GBP565.7 million, -5.7%;
• • Flybe UK: GBP539.7 million, -9.7%;
  • • Fuel and aircraft: GBP283.3 million, -10.3%;
• Operating profit (loss): (GBP12.7 million), compared to a profit of GBP1.3 million in p-c-p;
• Profit (loss) before tax: (GBP35.6 million), compared to a profit of GBP8.1 million in p-c-p;
• Net profit (loss): (GBP35.7 million), compared to a profit of GBP8.0 million in p-c-p;
• Total assets: GBP560.3 million;
• Cash and cash equivalents: GBP177.9 million;
• Total liabilities: GBP420.3 million. [more - original PR]

Flybe: "We have just completed the first full financial year of our three year transformation plan. Despite a more challenging environment than anticipated, significant progress has been made. There is much more to do, but I am keen to put on record my thanks to all our pilots, cabin crew, engineers and everyone in the field and at HQ in Exeter for their commitment and effort. Flybe is back on track to recovery and profitable growth," Saad Hammad, CEO. Source: Company statement, 10-Jun-2015.