Flybe’s plans to expand routes around Europe are being held back by a shortage of trained pilots.
The Exeter-based carrier has just started flying on a new route from London City to Dusseldorf, as part of its new winter schedule. But competition for pilots from other airlines is restricting its growth ambitions.
The regional airline said: “With the current market capacity growth, shortages of trained pilots are emerging that put further strain on Flybe's ability to grow the route network.”
Despite increasing revenue by 12.8 per cent to £383 million during the six months to September 30, Flybe’s pre-tax profit dropped from £22.9 million to £7 million year-on-year with “business and consumer uncertainty impacting all airlines”.
Flybe has also been affected by the drop in the value of the pound against the US dollar because it has to pay its aircraft loans in dollars.
Executive chairman Simon Laffin, who is running Flybe following the departure of former CEO Saad Hammad last month, admitted the market is “tough at the moment” due to “excess seat capacity in the European short-haul market”.
“As passenger numbers are still rising across the industry, we see further revenue opportunities,” added Laffin.
“Over the next 12 months, we will open our first European base in Dusseldorf and continue to cautiously test routes to maximise the returns from our existing capacity.”