Flybe Says Conditions Remain Challenging

January 11, 2012

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Flybe, Europe's largest regional airline, reported a higher first-half profit, but said trading conditions remained tough and forward ticket sales for winter were lower year-over-year.

Seats flown were up 3 percent at 6.4 million in the first half, but down more than 1 percent excluding the impact of last year's volcanic ash disruption.

A number of airlines suffered last year after being hit by disruptions caused by ash from volcanic eruptions in Iceland.

In October, the company issued a profit warning saying there was a significant slowdown in sales across its UK domestic network in September.

Flybe, which operates 83 aircraft from 14 UK airport bases, on Wednesday posted a first-half profit of GBP£14.3 million, compared with GBP£8.2 million last year.

Revenue increased about 6 percent to GBP£341.6 million.

(Reuters)