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Flybe plots European expansion

Flybe saw third quarter revenue rise by 1.5% to £139.5 million despite pre-Christmas severe weather disruption.


The regional carrier previously disclosed that the snow chaos in November and early December had cost it an estimated £6 million.


Passenger numbers in the three months to the end of December were down by 1.2% to 1.7 million. Without the weather disruption, the carrier believes passengers would have increased by 4.8% to 1.8 million.


Ticket yield in the quarter was up by 5.2% to £63.68, with ancillary yield up by 12.6% to £13.45.


Passenger revenue per seat rose by 4.1% to £47.51.


The airline’s market share of the UK domestic market for the year to December 2010 was 27%, up from 25% in 2009.


Chairman and chief executive Jim French said the airline’s plans for expansion into continental Europe are “progressing well, including our discussions with other European carriers”.


He said: “Despite the unprecedented adverse weather and uncertain economic conditions, I am pleased to report growth in the group’s revenue, passenger yields and revenue per seat in the quarter.


“The group’s successful flotation was a significant achievement for Flybe and was accomplished in a very challenging IPO market.


“The successful introduction of the code and capacity share agreement with Air France was a major step forward in our plans to develop services in Europe and I look forward to broadening this relationship further.”


 

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