3 February 2013 – trading update
The company has released an upbeat Interim Management Statement covering the third quarter. UK scheduled revenue per seat was up 2.3% and costs per seat excluding fuel and restructuring costs were down 5.2%. Revenue from white label flying in Finland jumped by 23.7%. Flybe is on are on schedule to deliver £40m of annual cost savings from Phases 1 and 2 of its ‘Turnaround Plan’ by 31 March 2014. Significant progress has also been made on the additional ‘Immediate Actions’ announced in November 2013. With forward sales for the coming Summer broadly in line with last year, the business is well positioned. BUY.