Steady as she goes for Flybe

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.

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"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