Flybe reports operating loss in FY2012
Flybe reports (11-Jun-2012) the following financial highlights for the 12 months ended Mar-2012:
- Group revenue: GBP615.3 million, +3.3% year-on-year;
- Ticket revenue: GBP461.3 million, +3.2%;
- Ancillary revenue: GBP104.3 million, +5.5%;
- Staff: GBP116.4 million, +5.5%;
- Fuel: GBP106.4 million, +15.0%;
- Operating profit/(loss): (GBP4.9 million), compared to a loss of GBP0.9 million in p-c-p;
- Profit/(loss) before tax: (GBP6.2 million), compared to a loss of GBP4.3 million.
- Passenger numbers: 7.6 million, +5.8%;
- Load factor: 61.9%, +0.2 pt;
- Passenger yield: GBP77.21, +1.4%. [more – original PR]
The carrier attributed its after tax loss of GBP6.4 million to a “challenging operating environment” (TTG Digital, 11-Jun-2012). Flybe chairman and CEO Jim French said the result was “disappointing” however, “It is a testament to the Group’s business model and its resilience that, despite the continued decline in the UK domestic air travel market, which totals some 20% since 2007, combined with significant cost increases - the annualised price of oil being the highest ever recorded in history, airport infrastructure costs increasing significantly above RPI and also government taxation through Air Passenger Duty (APD) continuing to increase - the Group’s overall operating loss for the year was limited to GBP4.9 million".