Flybe optimistic despite losses of €48m

Loss-making British low-fares airline, Flybe has claimed it remains on course to be Europe’s leading regional carrier, despite its latest set of annual results showing a near sevenfold rise in pre-tax losses to almost €50m.

The Exeter-headquartered airline — which flies all around Europe, including to six airports in Ireland — yesterday reported a pre-tax loss of £40.7m (€48m) for the 12 months to the end of March; significantly up on a loss of £6.4m posted in the previous year.

Despite that, however, revenue under management was up by more than 15% at £781.5m, although group revenue for the year was marginally down — by 0.2% — at £614.3m.