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Flybe Group PLC (FLYB.L)

FLYB.L on London Stock Exchange

40.25GBp
21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Low & Bonar names Flybe finance head as next CFO
Tuesday, 18 Apr 2017 02:05am EDT 

April 18 (Reuters) - Low & Bonar Plc ::Appointment of chief financial officer.Appointment of Philip de Klerk as chief financial officer.Philip de Klerk will join the Board of Low & Bonar on Oct 2, 2017.  Full Article

Flybe Group estimates adjusted loss before tax year for FY
Wednesday, 29 Mar 2017 02:00am EDT 

Flybe Group Plc : Period has been characterised by weak demand in an uncertain consumer environment . Slowed its year-on-year seat capacity 2 growth further to 10 pct (Q3: 12.7 pct) . Although load factor 3 fell by around 1.4 ppts year-on-year in final quarter, this was an improvement compared to previous quarter's 1.7 ppts reduction . Is planning a major upgrade to its core systems . Full review of software assets and it contracts is being conducted which is expected to result in additional cost and non- cash write downs, which could impact profit by around 5 mln pounds to 10 mln pounds in current financial year . Excluding this, adjusted profit before tax for year ended 31 march 2017 is expected to be a small loss . Total cash balance remains healthy and we expect net debt to be around £75m at end of year .At this early stage, summer trading is in line with our expectations.  Full Article

Flybe third-quarter passenger revenue grows
Monday, 30 Jan 2017 02:00am EST 

Flybe Group Plc : Q3 2016/17 trading statement . Flybe delivered a solid quarter in tough trading conditions . 13.5 pct growth in passenger revenue in Q3, compared to 5.7 pct in H1 . 12.7 pct growth in Q3 seat capacity slowed against 13.5 pct growth in H1 . 2.8 pct growth in passenger yield compared to 2.0 pct decrease in H1 . 1.7 ppts decline in load factor slowed against 4.3 ppts decline in H1 . 0.2 pct increase in passenger revenue per seat against 6.9 pct decrease in H1 . Uncertain customer confidence and poor weather have contributed to a slow start to this quarter . Over three weeks into Q4, 11 pct increase in passenger revenue versus prior year . Over three weeks into Q4, 13 pct increase in seat capacity versus prior year and 1 pct decrease in yield versus prior year . Over three weeks into Q4, 38 pct of seats sold versus 38 pct in prior year and 1 pct decrease in revenue per seat versus prior year .First priority is to look to rebuild passenger unit revenue and to challenge all our costs -CEO.  Full Article

Flybe's new CEO Christine Ourmieres-Widener starts on Monday
Monday, 16 Jan 2017 02:00am EST 

Flybe Group Plc : Christine ourmieres-widener starts as chief executive officer . Christine ourmieres-widener starts as chief executive officer . Following a short handover period, simon laffin will return to being non-executive chairman on 20 january 2017. .Following a short handover period, simon laffin will return to being non-executive chairman on 20 january 2017..  Full Article

Stobart says to operate flights from London Southend via Flybe franchise deal
Thursday, 22 Dec 2016 02:00am EST 

Stobart Group Ltd : Announced its decision to operate flights from London Southend airport through Stobart Air's existing franchise arrangement with Flybe . New routes include Budapest, Milan and Venice . Further routes are expected to be added at a later date .12 new European routes are now confirmed, operating through franchise arrangement with Flybe, from May 2017.  Full Article

Flybe names Christine Ourmieres-Widener as CEO
Tuesday, 20 Dec 2016 02:00am EST 

Flybe Group Plc : Appointment of Christine Ourmieres-Widener as chief executive officer . Announces that it has appointed Christine Ourmieres-Widener as its chief executive officer, with effect from Jan. 16, 2017 .Simon laffin will return to being non-executive chairman when christine joins business.  Full Article

Flybe says franchise agreement with Loganair terminated
Monday, 21 Nov 2016 07:30am EST 

Flybe Group Plc : Its franchise agreement with Loganair to fly under Flybe brand has been terminated with effect from August 2017 . Resulting change in operations to part of Flybe's route network in Scotland is not expected to have a material impact on profits of group .Says shall announce plans on continuing to serve Scotland in due course - Executive Chairman.  Full Article

Flybe first-half adjusted pretax profit falls
Wednesday, 9 Nov 2016 02:00am EST 

Flybe Group Plc : H1 group revenue at 383.0 million stg versus 339.6 million stg . H1 adjusted profit before tax 1 of £15.9m (h1 2015/16: £21.1m) reflected impact of challenging external market conditions . H1 profit before tax of £7.0m (h1 2015/16: £22.9m) was affected by fall in sterling, increasing cost of usd loans on aircraft . 3.5% increase in seat capacity, as additional aircraft were deployed . 2.0% decrease in passenger yield to £70.58, due to careful pricing managemen . Current market capacity growth, shortages of trained pilots are emerging that put further strain on flybe's ability to grow route network . Aviation market is a turbulent one at moment and there is limited forward visibility . Board believes that flybe continues to have a clear strategy that will ensure its resilience in this market . Seat capacity up by c16% and c49% of seats sold versus. c52% in prior year for q3 trading update (as at 7th november 2016) . Yield down c5% and passenger revenue per seat down by c9% for q3 trading update (as at 7th november 2016) .H1 pretax profit 7.0 million stg versus 22.9 million stg year ago.  Full Article

Flybe says Brexit uncertainty, terrorism fears could hurt near-term
Wednesday, 27 Jul 2016 02:00am EDT 

Flybe Group Plc : Q1 15.5% increase in seat capacity to 3.2m seats (q1 2015/16: 2.8m seats) . Q1 9.2% growth in passenger numbers to 2.3 million (q1 2015/16: 2.1m passengers) . Q1 5.0% growth in passenger revenue to £155.8m (q1 2015/16: £148.4m) . Growth delivered despite slow start in april and demand headwinds stemming from fear of terrorism, and uncertainty around eu referendum vote . Co's mission is unlikely to be affected in a significant manner by form of uk's new arrangements with eu . In near term consumer uncertainty about brexit, its economic impact and repeated terrorist incidents could have materially adverse impact . Travel demand may weaken further if consumer and business confidence suffers, not least against a weaker pound. .Impact of stronger usd since eu referendum vote will have a negative impact of £2.5m on fy profit, if rates remain at current levels.  Full Article

Flybe updates on aircraft Purchase
Thursday, 14 Jul 2016 02:00am EDT 

Flybe Group Plc : N 9 june 2016, Flybe entered into a contract with Nordic Aviation Capital (NAC), to cancel obligations to lease nine used bBombardier Q400 turboprop aircraft .NAC contract had two conditions precedent. Those conditions have now been fulfilled..  Full Article

More From Around the Web

Flybe finance chief Philip de Klerk resigns to be Low & Bonar CFO

April 18 British airline Flybe Group Plc's finance chief Philip de Klerk has resigned to become the next chief financial office at performance materials manufacturer Low & Bonar.