Flybe in the red after tough year (From Daily Echo)
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Flybe in the red after tough year
1:00pm Monday 11th June 2012 in Business
Flybe chief executive Jim French
SOUTHAMPTON Airport’s largest carrier Flybe enjoyed a nine per cent share bounce this morning despite slumping to a full-year loss.
The regional airline racked up losses in the UK of £2.2 million for the year to the end of March, compared to profits of £5.7 million the previous year, as it battled a five per cent decline in the domestic market and high fuel prices.
But the carrier grew its share of its domestic market to 28 per cent after passenger numbers lifted two per cent to 7.3 million and analysts said it is set to benefit from recent falls in oil prices.
Shares in Flybe, which floated on the stock exchange 18 month ago, rose 5.5p to 67.5p.
Flybe Finland, the company's joint venture with Finnair started nearly a year ago, already operates 25 routes in six countries and has scope for further expansion amid consolidation in the industry.
Losses for the group were £7.1 million, compared to a £22.3 million profit in the previous year.
Chief executive Jim French said: ''We remain in a challenging environment. However, Flybe today is a business of real scale and substance and one which has again demonstrated its resilience.''
Andrew Fitchie, an analyst at Investec, said the company's drive to contain costs while investing in its fleet and expand overseas will ''pay off handsomely'' given time.
He revised up his forecasts, saying he expects the airline to return to profit in the current year, with a £500,000 surplus compared to his previous estimate of a £1.3 million loss.
Comments(16)
forcaster
says...
1:43pm Mon 11 Jun 12
SouthernKel
says...
1:44pm Mon 11 Jun 12
Adi Russ
says...
2:09pm Mon 11 Jun 12
Lone Ranger.
says...
2:17pm Mon 11 Jun 12
Smartiepants wrote:No they are not the only carriers but certainly are the largest.
Flybe are Southampton airport's only carrier aren't they? Everyone else has ditched them in favour of Bournemouth.
.
Having used Southampton airport and Flybe on numerous occasions i think that the airport is great and certainly more relaxed and "civilised" than Heathrow or Gatwick who cater for a different type of air traveller
OSPREYSAINT
says...
3:39pm Mon 11 Jun 12
Smartiepants wrote:Uninformed comment as usual, Eastern Airways, Aurigny, Scilly Skybus, Blue Islands and soon Vueling are among other operators. Flybe code share with a number of other Airlines, including Air France. Hurn has Ryanair, Thomson but not much else.
Flybe are Southampton airport's only carrier aren't they? Everyone else has ditched them in favour of Bournemouth.
OSPREYSAINT
says...
3:53pm Mon 11 Jun 12
richieroo
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5:20pm Mon 11 Jun 12
SouthernKel wrote:Here here!.
If they didn't charge such ridiculous prices with "add-ons" for everything, this wouldn't be happening. I've found that it actually works out cheaper to travel from Southampton to Gatwick and fly from there!
Lone Ranger.
says...
7:08pm Mon 11 Jun 12
richieroo wrote:How much cheaper??
SouthernKel wrote:Here here!.
If they didn't charge such ridiculous prices with "add-ons" for everything, this wouldn't be happening. I've found that it actually works out cheaper to travel from Southampton to Gatwick and fly from there!
Georgem
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7:25pm Mon 11 Jun 12
Lone Ranger. wrote:Good question. The convenience of getting to the airport within 10 minutes of leaving the house, and being home within 20 mins of landing trumps saving a few quid to me. There's no definitive answer.
richieroo wrote:How much cheaper??
SouthernKel wrote:Here here!.
If they didn't charge such ridiculous prices with "add-ons" for everything, this wouldn't be happening. I've found that it actually works out cheaper to travel from Southampton to Gatwick and fly from there!
OSPREYSAINT
says...
9:05pm Mon 11 Jun 12
Lone Ranger. wrote:How do you get to Gatwick?
richieroo wrote:How much cheaper??
SouthernKel wrote:Here here!.
If they didn't charge such ridiculous prices with "add-ons" for everything, this wouldn't be happening. I've found that it actually works out cheaper to travel from Southampton to Gatwick and fly from there!
Huffter
says...
10:23pm Mon 11 Jun 12
richieroo wrote:Where? Where?
SouthernKel wrote: If they didn't charge such ridiculous prices with "add-ons" for everything, this wouldn't be happening. I've found that it actually works out cheaper to travel from Southampton to Gatwick and fly from there!Here here!.
Poppy22
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1:20am Tue 12 Jun 12
Icklelady
says...
9:23am Tue 12 Jun 12
Give us an all-in price please??
Georgem
says...
9:51am Tue 12 Jun 12
Icklelady wrote:It's marketing, innit?! Every time I'm flying anywhere, people pop up and say "go to this website, flights for £25!" which is of course utter nonsense. But it WORKS. People really do fall for it, so you're not going to get an all-in price, until some airline decides that giving us the actual price up-front is advantageous to THEM.
Haven't prices (add-ons) increased recently? I went to Holland last year with flybe, from Southampton, and the add-ons were as expected; not too many but, there were some. Flying again this year, and we've decided not to take any luggage, or choose our seats because with these add-ons, it pretty much doubled the original cost of the flights!
Give us an all-in price please??
Icklelady
says...
9:57am Tue 12 Jun 12
But yeah, people do fall for it, I agree. But if an airline were to advertise saying "£50 inc tax/seat selection/bags," I'd go for that because I know that's the price.
It's frustrating having to waddle through the ticket process watching the price go up on the right every other click.
As I say, I now fly with just hand luggage, and check in early to get an ok seat.
And card payment charges?? ...There's another can of worms.
Smartiepants says...
1:33pm Mon 11 Jun 12