Exeter-based regional airline, Flybe, have today released its financial results for the year ended 31st March 2017 which shows their annual turnover has surpassed £700 million – a 13.4% increase.
The airline also reported that passenger numbers had increased by 7.6% to 8.8m and a stable passenger yield of £70.20. However, a £6.7 million adjusted loss before tax was also announced.
Over the last year, Flybe was named by OAG as the best UK airline for punctuality and launched a new franchise partnership and joint venture with Eastern Airways and Blue Islands.
New routes from Scotland to London Heathrow were also announced and signed new codeshares with Virgin Atlantic, Air Berlin, Air India and Singapore Airlines.
A reduction in the fleet size will start by returning for 2017/18 as a result of the figures however Flybe claim that this will enable them to become a more customer centric business and concentrate the business on profitable routes.
Flybe CEO, Christine Ourmieres-Widener said: “I am truly passionate about the airline industry and I see tremendous opportunities for Flybe to connect and engage with communities and to establish a reputation for excellence in serving our customers.
“We will be successful in delivering by continually focusing on our costs, increasing our knowledge about who our customers are and what makes them tick, achieving industry-leading operational excellence and implementing a great digital platform.”