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Regional airline Flybe's earnings take a £35m nosedive

by Staff Reporter

Regional airline Flybe, which flies to 16 destinations from Belfast, insisted its turnaround was on track despite posting full-year losses.

The Exeter-based carrier, which flies 66 planes, posted a pre-tax loss of £35.6m in the year to the end of March, compared with an £8.1m profit 12 months previously.

It said it was at the end of the first year of a three-year turnaround plan, as it sells off unprofitable routes after seeing passenger numbers fall in the aftermath of the financial crisis.

It added that its total losses from discounted operations amounted to £12m last year. However, the carrier flew the same number of travellers as last year, 7.7million..

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