FlyBe - 6
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fredtheanorak said "is this (BA) why FlyBe is now coming onto EzyJets radar
first Ezy moves into BHD then onto IOM. Next stop SOU
"
If the continued rumors are to be believed, EZY will be coming in just down the road at BOH rather than SOU which would cause direct competition on several routes...
Potentially interesting times ahead!!!
first Ezy moves into BHD then onto IOM. Next stop SOU"If the continued rumors are to be believed, EZY will be coming in just down the road at BOH rather than SOU which would cause direct competition on several routes...
Potentially interesting times ahead!!!
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Yessir Adfly. I think the point is that U2 are now coming at BE.
IOM is now confirmed.
Published online at 27/01/2010 12:13:53
It's been confirmed budget airline easyJet is considering operating a new route between the United Kingdom and the Isle of Man.
Airport Director Ann Reynolds says the company has made an approach with a view to setting up a route from Ronaldsway to a UK airport.
It's not yet clear which destination is being considered.
IOM is now confirmed.
Published online at 27/01/2010 12:13:53
It's been confirmed budget airline easyJet is considering operating a new route between the United Kingdom and the Isle of Man.
Airport Director Ann Reynolds says the company has made an approach with a view to setting up a route from Ronaldsway to a UK airport.
It's not yet clear which destination is being considered.
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the two rumors here in IOM is that it will be U2 6x a week LPL IOM LPL.
The other one going the rounds is that 3x a week it will do a w pattern LPL IOM LTN IOM LPL. This LTN bit sounds a load of
to me but the ramp rumor has been proven bang on about Eazys intentions so far
. Manx radio had some details on today.
The other one going the rounds is that 3x a week it will do a w pattern LPL IOM LTN IOM LPL. This LTN bit sounds a load of
to me but the ramp rumor has been proven bang on about Eazys intentions so far. Manx radio had some details on today.
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Let me see
yet the line underneath the photo says
.
Which is not the same as a confirmed route. If I were to suggest an IOM route, I think it may be to LGW and not LPL if only for a longer flying time for U2's cabin crew to sell items on board; don't forget the LPL-LTN route was popular but didn't have the long-lasting staying power of their other LPL routes.
IOM is now confirmed.
It's been confirmed budget airline easyJet is considering operating a new route between the United Kingdom and the Isle of Man
Which is not the same as a confirmed route. If I were to suggest an IOM route, I think it may be to LGW and not LPL if only for a longer flying time for U2's cabin crew to sell items on board; don't forget the LPL-LTN route was popular but didn't have the long-lasting staying power of their other LPL routes.
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Completely agree with Wingowango.
Flybe have competed with EZY on Belfast routes to GLA/EDI/NCL and LGW for some time and haven't run off on these at all. Yes there is a difference in the airport served but the multiple frequencies offered by BE catch the eye of more business passengers and therefore allow BE to compete.
In fact, the market shares for Flybe appear to have held strong. Don't get me wrong, I'm sure BE would rather EZY weren't there but they have a good strong business model that works and i'm not so sure they'll be running off in a hurry and handing the routes over.
Flybe have competed with EZY on Belfast routes to GLA/EDI/NCL and LGW for some time and haven't run off on these at all. Yes there is a difference in the airport served but the multiple frequencies offered by BE catch the eye of more business passengers and therefore allow BE to compete.
In fact, the market shares for Flybe appear to have held strong. Don't get me wrong, I'm sure BE would rather EZY weren't there but they have a good strong business model that works and i'm not so sure they'll be running off in a hurry and handing the routes over.
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Flybe FY pretax profit 12.8 mln stg vs 35.4 mln stg
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Flybe results
More detail on ther website, as follows:
Flybe, one of Europe’s largest and most successful regional aviation groups, is filing accounts for the financial year ended 31 March 2009.
Key financial and performance highlights at a glance:
The period covered by these results includes the height of the global downturn in the world’s financial markets, the spike in oil prices and the onset of global economic recession. It was also one of the most turbulent environments ever experienced by the world’s aviation industry.
Key Highlights
Group Highlights
A profitable performance in a period affected by one of the deepest and most prolonged recessions seen by the aviation industry.
Operating cash inflow before restructuring of £31.4 million generated in the year.
Airline Highlights
Passenger numbers up by 4.3% helped underpin a profitable performance.
Continued progress on Flybe’s balanced ancillary revenue strategy with a 30% increase in ancillary revenue per passenger driven by new value added streams including income from advanced seat assignment and financial services.
Completion of the fleet rationalisation programme (May 2009) which underpins Flybe’s competitive position in the regional airline market. The programme saw 76 aircraft either introduced or retired over a 26 month period leaving Flybe with an average fleet age of under 3 years (May 2009).
Successful launch of our first franchised operations as Loganair began to operate under the Flybe brand during the year. The move helps to cement Flybe’s position in the Scottish aviation market.
Flybe successfully completed the integration of the BA Connect business, realising substantive synergies in overhead and maintenance rationalisation, while enjoying the full economic benefits of substituting 50 seat jets with Flybe’s preferred 78 seat Q400 product.
Flybe was awarded 2009 Regional Airline of the Year by Air Transport World, the first UK airline to hold this title since 1996.
Maintenance, Repair and Overhaul Business-Aviation Services (MRO)
Continued strong progress in our MRO business which was recognised as European Airline MRO of the Year in 2009 by Aviation Week. The unit enjoyed a profitable year with 70% of its revenue now coming from third party customers.
Training Business
In 2009 Flybe took its first steps towards developing a strong aviation training business by securing funding for the building of a new Training Academy, to be based at Exeter, and expected to be completed by the end of 2010.
Jim French, Chairman and Chief Executive, commented: “The Flybe business model was put to the ultimate test during the year and I am delighted to report that it came through with flying colours. In my 40 years in the industry, I have never experienced such a difficult environment and, in that context, we can rightly regard the result for the year as a success. I am proud that Flybe was one of few major airlines to announce a profit in the year.
“Whilst steering Flybe through economic turbulence, we also remained focussed on developing our business and brand. The management team continues to demonstrate both clear strategic focus and agility and I believe this will ensure that Flybe will be one of a handful of European airlines to emerge stronger and more competitive as the recession comes to an end.”
Looking ahead, Mr French added: “Flybe has continued to prove the resilience of its business model and strategy by recording good profits for the half year period to 30 September 2009. The airline is winning market share in a number of key markets and we are seeing substantial rationalisation by our competitors in our key domestic market place. In the first half of 2009/10, Flybe became the UK’s number one domestic airline. The airline is having a good recession and is well positioned to harvest the benefits when more benign economic conditions return. The airline has successfully completed the financing of all its current fleet in the year and has no new aircraft to finance until April 2011- putting it in an enviable position among European airlines.
“The MRO business, Aviation Services, has capitalised on the excellent reputation of the Flybe brand and has expanded the geographic range of its services to Greece where it has supported the start up of the new ‘Olympic Air’. This has been very beneficial during the current financial year and has provided the platform for further developments of this kind.
“The aviation training business has made solid progress and work has commenced on building our flagship Training Academy in Exeter.
“In 8 years since 2002, Flybe has reviewed and invested in every single aspect of its business and as a result is well positioned as the UK and European economies emerge from recession.”
Looks pretty solid to me and nice to see an aviation CEO being upbeat!
Flybe, one of Europe’s largest and most successful regional aviation groups, is filing accounts for the financial year ended 31 March 2009.
Key financial and performance highlights at a glance:
- Profit before tax of £12.8 million* (2007/08: £35.4 million*)
- Growth in turnover of 6.8% to £572.4 million (2007/08 £535.9 million).
- Growing passenger volume, up to 7.3 million passengers (2007/08 7.0 million).
- Growing ancillary revenues per passenger by 30% to £10.37 (2007/08 £7.97).
The period covered by these results includes the height of the global downturn in the world’s financial markets, the spike in oil prices and the onset of global economic recession. It was also one of the most turbulent environments ever experienced by the world’s aviation industry.
Key Highlights
Group Highlights
A profitable performance in a period affected by one of the deepest and most prolonged recessions seen by the aviation industry.
Operating cash inflow before restructuring of £31.4 million generated in the year.
Airline Highlights
Passenger numbers up by 4.3% helped underpin a profitable performance.
Continued progress on Flybe’s balanced ancillary revenue strategy with a 30% increase in ancillary revenue per passenger driven by new value added streams including income from advanced seat assignment and financial services.
Completion of the fleet rationalisation programme (May 2009) which underpins Flybe’s competitive position in the regional airline market. The programme saw 76 aircraft either introduced or retired over a 26 month period leaving Flybe with an average fleet age of under 3 years (May 2009).
Successful launch of our first franchised operations as Loganair began to operate under the Flybe brand during the year. The move helps to cement Flybe’s position in the Scottish aviation market.
Flybe successfully completed the integration of the BA Connect business, realising substantive synergies in overhead and maintenance rationalisation, while enjoying the full economic benefits of substituting 50 seat jets with Flybe’s preferred 78 seat Q400 product.
Flybe was awarded 2009 Regional Airline of the Year by Air Transport World, the first UK airline to hold this title since 1996.
Maintenance, Repair and Overhaul Business-Aviation Services (MRO)
Continued strong progress in our MRO business which was recognised as European Airline MRO of the Year in 2009 by Aviation Week. The unit enjoyed a profitable year with 70% of its revenue now coming from third party customers.
Training Business
In 2009 Flybe took its first steps towards developing a strong aviation training business by securing funding for the building of a new Training Academy, to be based at Exeter, and expected to be completed by the end of 2010.
Jim French, Chairman and Chief Executive, commented: “The Flybe business model was put to the ultimate test during the year and I am delighted to report that it came through with flying colours. In my 40 years in the industry, I have never experienced such a difficult environment and, in that context, we can rightly regard the result for the year as a success. I am proud that Flybe was one of few major airlines to announce a profit in the year.
“Whilst steering Flybe through economic turbulence, we also remained focussed on developing our business and brand. The management team continues to demonstrate both clear strategic focus and agility and I believe this will ensure that Flybe will be one of a handful of European airlines to emerge stronger and more competitive as the recession comes to an end.”
Looking ahead, Mr French added: “Flybe has continued to prove the resilience of its business model and strategy by recording good profits for the half year period to 30 September 2009. The airline is winning market share in a number of key markets and we are seeing substantial rationalisation by our competitors in our key domestic market place. In the first half of 2009/10, Flybe became the UK’s number one domestic airline. The airline is having a good recession and is well positioned to harvest the benefits when more benign economic conditions return. The airline has successfully completed the financing of all its current fleet in the year and has no new aircraft to finance until April 2011- putting it in an enviable position among European airlines.
“The MRO business, Aviation Services, has capitalised on the excellent reputation of the Flybe brand and has expanded the geographic range of its services to Greece where it has supported the start up of the new ‘Olympic Air’. This has been very beneficial during the current financial year and has provided the platform for further developments of this kind.
“The aviation training business has made solid progress and work has commenced on building our flagship Training Academy in Exeter.
“In 8 years since 2002, Flybe has reviewed and invested in every single aspect of its business and as a result is well positioned as the UK and European economies emerge from recession.”
Looks pretty solid to me and nice to see an aviation CEO being upbeat!
Last edited by Drink Up Thee Cider; 29th Jan 2010 at 12:57. Reason: adding a title
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and with commentary
UK's Flybe edges into profit despite tough climate
UK regional carrier Flybe just managed to break even in its last financial year, with a pre-tax profit of £100,000 ($160,000) after exceptional charges.
The airline says it sustained "unprecedented" losses for the fourth quarter to March 2009. But it adds that it achieved "good" profits in the subsequent half-year to September 2009.
For the year ending 31 March 2009, excluding the exceptional charges, Flybe turned in a pre-tax figure of £12.8 million, a fall of 63%. It achieved a 6.8% rise in turnover to £572 million as passenger numbers increased to 7.3 million.
The airline defends its performance, stating that the period covered the peak of the financial downturn and the sharp rise in fuel prices.
Fuel costs over the year increased by 36%, and accounted for half of the £59 million rise in expenses, to £504 million.
The onset of the recession also affected the airline's business routes, with domestic traffic suffering "significant declines" from UK airports.
Chief executive Jim French says that, given the difficult environment, the carrier can "rightly regard the result for the year as a success". He adds that the carrier is "having a good recession" and is "well-positioned to harvest the benefits" when better economic conditions return to the market.
UK regional carrier Flybe just managed to break even in its last financial year, with a pre-tax profit of £100,000 ($160,000) after exceptional charges.
The airline says it sustained "unprecedented" losses for the fourth quarter to March 2009. But it adds that it achieved "good" profits in the subsequent half-year to September 2009.
For the year ending 31 March 2009, excluding the exceptional charges, Flybe turned in a pre-tax figure of £12.8 million, a fall of 63%. It achieved a 6.8% rise in turnover to £572 million as passenger numbers increased to 7.3 million.
The airline defends its performance, stating that the period covered the peak of the financial downturn and the sharp rise in fuel prices.
Fuel costs over the year increased by 36%, and accounted for half of the £59 million rise in expenses, to £504 million.
The onset of the recession also affected the airline's business routes, with domestic traffic suffering "significant declines" from UK airports.
Chief executive Jim French says that, given the difficult environment, the carrier can "rightly regard the result for the year as a success". He adds that the carrier is "having a good recession" and is "well-positioned to harvest the benefits" when better economic conditions return to the market.