Flybe reported a 10% fall in passenger revenue in the three months to the end of June following a 17% reduction in capacity on a year ago.
However, Flybe described its results for the first quarter of the financial year as “encouraging” and “in line with management expectations”.
In an interim statement this morning, the regional carrier said: “The trading performance shows the benefits of our disciplined approach across four areas: capacity, revenue, costs and organisation. We also continue to prepare the business for future growth.”
Flybe highlighted its capacity discipline following a reduction of 500,000 seats on a year ago, amid widespread industry concerns of overcapacity among airlines.
It reported a 9% improvement in aircraft utilisation, “with block hours per operating aircraft increased from 7.1 to 7.8 hours”.
The airline also reported an increase of 9.5% year on year in passenger revenue per seat – which rose to £52.79 over the quarter.
Flybe’s average load factor was also up just over 9% to almost 76%.
The carrier reported a 16.6% reduction in costs year on year.
Chief executive Saad Hammad (pictured) said: “Flybe’s momentum continues, with an encouraging start to the year.
“We have launched a number of new routes and products, re-launched our brand and announced a number of exciting strategic developments with new partners.
“We have achieved a significant amount in the quarter, with substantially more to do in the months ahead.”