Flybe posts record profits

Flybe has announced record pre-tax profits of 35.4m for the year ending March 31. The result was well above the 20m it recorded in the previous 12 months.

Flybe has announced record pre-tax profits of £35.4m for the year ending March 31. The result was well above the £20m it recorded in the previous 12 months.

The budget airline has also seen a 46% rise in turnover to £535.9m.

Earlier this year, Flybe announced pre-tax profits of £12.2m for the first quarter of this financial year, a 14% increase from the same period last year.

The airline says its fuel bill, comprising 24% of total costs, has been “one of the lowest percentage burdens” in aviation industry. Flybe became one of Europe’s biggest airline in 2008 after integrating BA Connect.

Chairman and chief executive Jim French describes this year as “transformational” due to its positive financial results and the BA Connect acquisition.

The airline says that with its resilient customer base and fuel-efficient aircrafts it has “defied the downturn in leisure traffic affecting other airlines”. Business travellers make 45% of Flybe passengers, forming its largest customer sector.

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