Saturday 24 March 2018

Carrier Flybe posts profit as cost cutting pays off

Flybe plane.
Flybe plane.

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.

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