Flybe continues search for profitable role — July 2018

Europe’s leading regional carrier, Flybe, is attempting to find a clear strategy in a small but complex market, and to achieve at least a break-even financial result.

Flybe’s latest financials (to end March 2018) showed another loss, the norm for the past eight years. Total revenue increased by 6% to £752.6 and the headline pre-tax loss was more than halved from £19.9m to £8.1. Unfortunately, this loss reduction was only on paper. Operating losses grew from £2.4m to £13.5m. Changes in non-cash items, mainly the valuation of dollar loans into sterling and a provision for Embraer 195 leases, were positive relative to the previous year, hence the apparent net loss improvement.