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%.

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%.

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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