Carrier Flybe posts profit as cost cutting pays off
Flybe Group Plc (FLYB.L), the operator of Europe's largest regional airline, swung to a full-year profit as cost-cutting measures it undertook paid off.
The carrier, which operates flights mainly within the UK and Ireland, reported a pretax profit, its first since 2011, of 8.1 million pounds ($13.6 million) for the year ended March 31. [ID:nRSK3406Ja]
For the year-earlier period, Flybe reported a pretax loss of 41.1 million pounds.
Group revenue rose 1 percent to 620.5 million pounds, said Flybe, which began a turnaround programme last January.