Flybe falls further into the red
Airline Flybe posted increased losses in its full year results, blaming a tough operating environment, particularly in the UK.
Airline Flybe posted increased losses in its full year results, blaming a tough operating environment, particularly in the UK.
In the year to the end of March losses increased 44% on the year before to £6.2m.
Revenues were up up 3.3% to £615.3m, while passenger numbers were also up 5.8% to 7.6m
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
But Flybe said it had faced a five per cent decline in its core UK market during the year along with high fuel prices and other inflationary pressures.
The firm is being battered from all sides, including being hit by 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 continuing to increase.
However, it adopted a bullish tone, saying the firm was a "business of real scale and substance, and one which has again demonstrated its resilience".
"Flybe is well placed to take advantage of any improvement in the UK macro environment and has a strong platform in Europe to leverage, leaving the Group strongly placed for the future," it said.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
How taking a two-year career break could leave a £26k hole in your pension
Career breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Cash in on your attic: Thousands could be sitting dormant in your storage
Selling your valuables at auction could be far more lucrative than you think. We take a look at how auctions work, and some tips to help you maximise your profits