Exeter-based airline Flybe has announced plans to expand into Europe after agreeing a deal with aircraft manufacturer Embraer to buy up to $5 billion of new planes.
The low-cost airline is to spend $1.3 billion on 35 Embraer E Series aircraft, with the option to buy another 65 at $2.3 billion, and has purchase rights on a further 40 to the tune of $1.4 billion.
Chief commercial officer, Mike Rutter, said Flybe's successful business model was exportable to the European markets and that the expansion would open up a range of business destinations on the Continent.
Talking this morning to ABTN, he said: "We have identified a couple of markets that could be particularly welcoming, but you won't be surprised to know I won't be going into any details yet.
"But in essence we will be seeking to replicate what we do here in the UK, so the model will remain the same. It will be about domestic flying and it'll be about European business cities."
Rutter said announcements regarding the expansion would be made over the next six or seven months.
The first aircraft will be delivered in September next year with the final scheduled delivery on firm orders being made in March 2017.
Flybe recently concluded a strategic alliance with Air France to sit alongside an existing deal with British Airways (Flybe bought BA Connect in 2007).
"So, basically the aircraft and the strategic alliances are now in place," said Rutter.
"We are the number one or the number two for most corporate PLCs in the UK, in terms of their total air procurement, and this aircraft gives us the opportunity to open up a new range of European business cities, particularly from the UK regions."
He said 28% of Flybe's overall bookings come through intermediaries such as travel management companies, and a further 10% through corporate booking tools and fare scraping technology.
"[The 175] is an 88-seat aircraft that has good range performance. It will allow us to [fly to] more German regional cities from the UK, the same for France, the Netherlands, Scandinavia - a long term target - and Spain."
www.flybe.com