Recovery stock Flybe performed in line with expectations in the first three months of 2012, with the group's aviation support division enjoying a pick-up in demand.
The company, which saw its share nosedive after warning in October of a slow-down in revenues on domestic routes, said that Flybe UK is continuing to focus on a number of initiatives to increase revenue per seat, further reduce costs and ensure capacity is optimally matched to demand. In the meantime, the company has maintained its leadership position in the UK regional and domestic markets, the company claimed.
In the Aviation Support division, the maintenance, repair and operations business has seen increased demand for third party aircraft maintenance from European regional airlines and the Training Academy will benefit from the recently commissioned second flight simulator.
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
"Although market conditions remain challenging, we have a robust and flexible business model combined with clear and achievable growth plans. We remain confident about Flybe's long term future," the company said.
The group is set to reveal its full year results on June 11th.
JH
-
Why now is the right time to invest in biotechThe biotech sector holds huge potential for investors, with strong growth and attractive valuations. Here's the best way to play it.
-
Zoopla: Busiest home buying May since 2021, but property asking prices slideBuyers return to the market after the end of higher stamp duty thresholds and post-Easter lulls, but average sales are £16,000 below asking price
