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British carrier Flybe posts profit as cost cutting pays off
June 11, 2014 / 6:16 AM / 3 years ago

British carrier Flybe posts profit as cost cutting pays off

June 11 (Reuters) - Flybe Group Plc, the operator of Europe’s largest regional airline, swung to a full-year profit as cost-cutting measures it undertook paid off.

The carrier, which operates flights mainly within the UK and Ireland, reported a pretax profit, its first since 2011, of 8.1 million pounds ($13.6 million) for the year ended March 31.

For the year-earlier period, Flybe reported a pretax loss of 41.1 million pounds.

Group revenue rose 1 percent to 620.5 million pounds, said Flybe, which began a turnaround programme last January. ($1 = 0.5956 British Pounds) (Reporting by Esha Vaish in Bangalore; Editing by Gopakumar Warrier)

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