Flybe passenger traffic rise fuels lift in revenues

THE number of passengers travelling with Flybe increased in the second quarter of the year, the airline said yesterday.

In the three months to 30 June, the carrier saw passenger numbers rise by 7.7 per cent to 1.98m.

In a tough economic climate Flybe also saw revenue increase by 8.3 per cent to £160.4m. Revenue per seat also increased by 4.9 per cent to £48.09.

The group also reported an uptick in punctuality, with 87.1 per cent of flights landing on time during April, May and June – up from the 85.4 per cent recorded in the first quarter of 2010.

But Flybe’s revenues from aviation support operations fell 29.7 per cent on last year to £9.8m. The support division, formed as part of a reshuffle of the business in July, is responsible for maintenance and the firm’s training academy.

Flybe said it has hedged 79 per cent of its fuel costs for the next two years at $851 per tonne.

Jim French, chairman and chief executive of the Exeter based carrier, said: “This is a satisfactory trading and operational performance, achieved against a continuing backdrop of high fuel costs and challenging economic conditions.

“Though at an early stage of the year and with uncertain macro-economic condition the board maintains its expectations for the full year.”