Flybe expected to announce stock market float or sale
Airline Industry Information, May 25 2005
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AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
UK-based low-cost airline Flybe is expected to signal its intention to either float on the stock exchange or put itself up for sale in the next few weeks.
The airline, which restructured after a difficult post-9/11 period which saw it accumulate massive losses, is also set to announce that it should make a profit for the first time in five years. The airline has made little secret of the fact that it wanted to find a buyer as soon as it hit profit after its restructure.
Flybe's marketing director Mike Rutter said that the airline was expanding at a rapid but sustainable rate after trading figures showed a 35% increase in passenger numbers in the summer of 2004 along with an increase in passenger yield of 10%, reports The Evening Standard.
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