Flybe Group PLC Trading Statement (0305C)

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RNS Number : 0305C

Flybe Group PLC

13 October 2015

Exeter, UK

13 October 2015

Flybe Group plc ('Flybe' or 'the Group')

FLYBE CONTINUES ITS TURNAROUND WITH FURTHER GROWTH IN BOTH PASSENGER NUMBERS AND REVENUE

QUARTER 2 2015/16 TRADING

The return to growth delivered in the previous two quarters has continued in Q2, with double digit increases in seat capacity, passenger numbers and revenue:

   --     13.8% increase in seat(2) capacity to 3.0m seats (Q2 2014/15: 2.7m seats) 
   --     10.7% increase in passenger(1) numbers to 2.4m passengers (Q2 2014/15: 2.1m passengers) 
   --     c13% increase in passenger revenue(5) 

Unit revenue development has been encouraging, given the growth in seat capacity

   --     c2% increase in yield(4) 
   --     2.2 ppts decrease in load factor(3) to 78.3% (Q2 2014/15: 80.5%) 
   --     c1% decrease in revenue per seat 

Saad Hammad, Chief Executive Officer, said:

"Flybe's turnaround continues, with our third successive quarter of revenue, capacity and passenger number growth, against the very competitive market provided by other airlines and road, rail and ferry services. In our second year of transformation, Flybe's performance in its core business is on track. We are also determined to finish redeploying our surplus Ejet aircraft."

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Notes:

1. Passengers are people with an issued ticket where the ticket has charged a fare and/or a passenger surcharge and tax (if applicable). This includes people who purchase a ticket and do not show up for the flight where, as is usually the case, the ticket is non-refundable.

2. Seats represent the number of scheduled seats flown.

3. Load factor is the number of passengers divided by seats flown.

4. Passenger yield represents passenger revenue per passenger.

5. Passenger revenue represents total ticket and ancillary revenue including hard block less refunds (Passenger revenue per seat represented total ticket and ancillary revenue per seat in 2014/15)

Flybe will announce its half year results on 11 November 2015 as planned

This information is provided by RNS

The company news service from the London Stock Exchange

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October 13, 2015 02:00 ET (06:00 GMT)