Hampshire Business
Flybe sales lifted by Finnish joint venture
9:18am Friday 10th February 2012
SOUTHAMPTON airport’s largest carrier Flybe has announced revenues rose 19 per cent to £165m in the three months to the end of last year.
The rise in Flybe’s third quarter revenue was boosted by its Flybe Finland joint venture with a Finnair.
Revenue for Flybe UK dropped 0.3 per cent to £133.7 million compared to the same time last year.
The Exeter airline last month warned of “disappointing” sales, particularly in December, amid a deteriorating UK air travel market.
Flybe’s chairman and chief executive Jim French, said: “Flybe UK continues to focus on a number of initiatives to increase revenue per seat, further reduce costs and ensure capacity is optimally matched to demand.
"The business has grown its market share and maintained its leadership position in the UK regional and domestic markets.
“The development of Flybe Finland, our new joint venture with Finnair, continues to progress well.
"This includes the expansion of scheduled services into Sweden and Denmark, as part of our plan to develop the business into the leading Regional carrier in Northern Europe.
“Although we expect market conditions to remain challenging, we have a robust and flexible business model and clear and achievable growth plans.
"We remain confident about Flybe’s long term future.”