Flybe announced a pre-tax profit of ”35.4m for 2007-2008, an increase of ”20m compared with the previous year.
The airline, one of the largest regional carriers in Europe, said its figures for the first quarter of the new financial year also showed ”strong growth.”
Flybe said turnover for the financial year ending March 31 was ”535.9m, a 46% rise on the figure for 2006-2007.
The carrier said it was going from ”strength to strength” with pre-tax earnings of ”12.2m for the first quarter and an 18% increase in passengers numbers compared with the same period last year.
Jim French, Flybe”s chairman and ceo, said the 2007-2008 had been a ”transformational” for the airline with the successful integration of BA Connect which it bought from BA.
The airline, 45% of whose passengers on business, said it was now flying 7m passengers a year to 190 destinations across Europe.
Mr French added: ”With current fuel costs at 24% of total costs, Flybe”s fuel costs represent one of the lowest percentage burdens in the industry.
” With one of the most fuel-efficient fleets and a passenger base that is less dependent upon discretionary leisure spend, Flybe is continuing to perform strongly in the current difficult environment.
” In the first quarter”s trading of this year, both revenues and operating profits were significantly higher than in the same period last year.”
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