Flybe flightpath flat
Flybe reported a slight drop in load factor during the quarter ended on the 31st of December, but saw total revenue under management (RUM) leap by 18.6%.
Flybe reported a slight drop in load factor during the quarter ended on the 31st of December, but saw total revenue under management (RUM) leap by 18.6%.
Load factor fell two percentage points to 59.6%, while RUM rose from £139.6m to £165.5m, on a 6.3% increase in passenger revenue and a 6.6% jump in ticket revenues. The number of seats climbed 9.8% to 3.02m from 2.75m.
The figures for Flybe UK were looking somewhat less cheery, with seats sold down 0.3%, total revenue falling by the same amount and passenger revenue down 0.1% to £130.2m. Costs per seat during the quarter climed 3.7% - excluding fuel this rose by just 1.2%.
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
Flybe Finland generated total revenues of £25.8m, comprising passenger revenue of £8.3m and other revenue, primarily contract flying for Finnair, of £17.5m.
Jim French, Flybe's Chairman and Chief Executive Officer said: "Flybe UK continues to focus on a number of initiatives to increase revenue per seat, further reduce costs and ensure capacity is optimally matched to demand. The business has grown its market share and maintained its leadership position in the UK regional and domestic markets."
The share price rose 0.78% to 65.00p by 11:55.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Ofgem proposes new energy tariffs with low or no standing changes
Standing charges have invited public backlash as households battle high energy bills
By Katie Williams Published
-
Google shares bounce on Gemini 2.0 launch
Google has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
By Dan McEvoy Published