March 29 Airline Flybe Group Plc has
reduced flying capacity and cut costs as weak demand, pricing
pressures and poor weather conditions dented fourth-quarter
revenue, it said on Wednesday.
The British airline said it expects to report an adjusted
loss before tax for the year ended 31 March 2017 due to a charge
of 5-10 million pounds ($6.2-$12.4 million) for a systems
Estimated passenger revenue rose by 9.8 percent in the final
quarter, compared with 13.5 percent in third quarter, Flybe
"The period has been characterised by weak demand in an
uncertain consumer environment, together with price competition
arising from overcapacity amongst airlines and sharpened price
activity from rail operators," Flybe said.
Operational cancellations and industrial action mainly by
French air traffic controllers also hit revenue, the company
Flybe estimated slower year-on-year seat capacity growth of
10 percent for the fourth quarter from 12.7 percent in the third
Load factor is estimated to fall by around 1.4 percentage
points in the three months to March 31, an improvement on the
1.7 percentage point fall in the previous quarter.
($1 = 0.8073 pounds)
(Reporting by Arathy S Nair in Bengaluru, editing by Louise